Banco Santander earned a net profit of € 7.810 million ($ 8.9 billion) in 2018, an increase of 18% over the prior year, with Latin America being the driver of the group.
As the bank said today at the National Securities Exchange Commission (CNMV), the Spanish stock market regulator grew by 2.6 million of connected customers – those who consider Santander as its main entity – in the course of 2018 – while digital customers increased 6.6 million, representing 32 million.
An entity led by Ana Botin earned a net profit of US $ 4,228 million ($ 4,831 million) in Latin America, down 1.6% less than in the previous year, although without the impact of the exchange rates of the currencies of the countries where it operates, earnings increased by 16.5%.
Brazil again was the country contributing more to this account, $ 2,976 million, 2.4% more. Santander Brazil This represented a 26% contribution to the group's global contribution.
Similarly, the area's annual accounts were again affected by accounting adjustments, which require high inflation Argentina, bringing a profit of 84 million euros ($ 96 million), which is almost 77% less than in 2017.
"Latin America continues to be an important driver of group growth, with good progress, especially in Brazil and Mexico," said Botin.
In general, the Bank of Latin America has characterized "good development" both in terms of interest margin and commission, "as well as volume growth and greater exposure of the client to which the" cost of credit "is added.
According to countries, after Brazil, Mexico has made a profit of $ 869 million, 7% more, while Chile gained 614 million euros ($ 702 million), an increase of 4.9%.
The Grupo Santander also operates in the United States, where it earned EUR 552 million ($ 631 million), up 35.4% thanks to "favorable business development" and progress in regulatory issues.
In general, gross loans and advances to Group clients across Latin America grew by 2.4% in 2018, while client funds – deposits and investment funds – rose 1.3%.
The Latvian Group working group grew last year by 1,182 employees to 90,196, while the branch network fell by 105 and amounted to 5,803.