Banco Santander received a net profit of EUR 7,810 million (USD 8,900 million) in 2018, 18% more than a year earlier, while Latin America was a group driver.
As the CNB reported today to the National Securities Market Commission (CNMV), the Spanish stock market regulator grew by 2.6 million connected clients – those who consider Santander as the main entity – while the digital users increased by 6, 6 million, to 32 million.
The entity under the leadership of Ane Botín received a net profit of EUR 4.228 million in Latin America, down 1.6% on the previous year, though without the impact of the currency exchange rate. Where it works, earnings would increase by 16.5%.
Brazil is the country that contributed to this account, USD 2.976 million, 2.4% more. Santander Brazil It represents a contribution of 26% of the global benefit of the group.
Likewise, yearly account areas are again affected by accounting adjustments that require a high inflation requirement Argentina, resulting in a profit of 84 million euros ($ 96 million), almost 77% less than in 2017.
"Latin America is still an important driver of the Group's growth, with good progress, especially in Brazil and Mexico," Botín said.
In general, the bank's business in Latin America was marked by "good evolution" and interest margin and commissions, "as well as the volume growth and greater involvement of the clientele, to which" credit cost improvement "is added.
By countries, after Brazil, Mexico has earned $ 869 million, 7% more, while Chile has earned 614 million euros ($ 702 million), an increase of 4.9%.
Grupo Santander also operates in the United States, where it earned 552 million euros ($ 631 million), 35.4% more, thanks to "favorable business development" and regulatory progress.
In general, gross loans and advances to Group customers throughout Latin America rose by 2.4% in 2018, while client and deposit funds and mutual funds increased by 1.3%.
Group employees in Latin America grew by 1,182 employees last year at 90,196, while the branch network fell by 105 and amounted to 5,803.