Banco Santander breaks its own record by earning 11,076 million euros in 2023, 15% more

Banco Santander obtained a net profit of 11,076 million euros in 2023, 15% more than the previous year.

This is a new historical record for the entity, achieved thanks to the strong growth in income, especially in Europe, the increase in the number of clients and cost control.

In a statement sent this Wednesday to the Spanish stock market supervisor, the CNMV, the bank explains that in the fourth quarter alone, profit increased by 28% year-on-year and reached 2,933 million euros.

Santander increased profitability and value for its shareholders, with a return on tangible capital (RoTE) of 15.1%, 1.7 percentage points higher than in 2022; an earnings per share (EPS) of 0.65 euros, 21.5% more, and a tangible book value (TNAV) per share of 4.76 euros at the end of the year.

BY: Mian Saeed Ahmed Khan