Banco Santander Q2 Profit Falls; Reaffirms FY Outlook - Quick Facts

(RTTNews) - Banco Santander (BNC.L, BSBR, SAN) reported Wednesday that its second-quarter attributable profit was 1.28 billion euros, lower than 2.54 billion euros a year ago.

In the latest quarter, restructuring costs were 475 million euros and a contribution of 120 million euros was made to the European Resolution Fund.

Profit before tax for the quarter was 2.95 billion euros, down from 3.00 billion euros a year ago. Net operating income declined to 5.70 billion euros from 6.19 billion euros last year.

Loan-loss provisions were 2.21 billion euros, down from 2.51 billion euros a year ago.

Looking ahead, Banco Santo reaffirmed its outlook for an increase in earnings and total dividend per share in 2016, despite worse than expected economic conditions.