Banco Santander Q1 Profit Up 8%, But EPS Down - Quick Facts

(RTTNews) - Spanish commercial bank Banco Santander, S.A. (SAN, BNC.L) said it has made 1.30 billion euros of profit in the first quarter 2014, a 8.1% increase, compared with last year's 1.205 billion euros, reflecting higher revenues, lower costs and provisions and more satisfied customers. On the other hand, first-quarter earnings per share were 0.113 euros, down 1.9%, compared with 0.116 euros a year earlier.

Santander's basic revenues, that is net interest income plus fee income, totaled 9.32 billion euros in the first quarter, down 4% year-on-year. Excluding the exchange rate impact, revenues went up 7% compared with the first quarter 2013.

Quarterly net interest income decreased 3.0% year-over-year to 6.99 billion euros, from 7.21 billion euros.