Santander Bank reported a profit, globally, of 2,571 million euros in the first quarter of 2023, which represented a growth of 1% compared to the same period of 2022.
This result for the quarter, highlighted the institution, was affected by the charge of a temporary tax on income obtained in Spain, for an amount of 224 million euros.
“Excluding this impact, the profit for the period would amount to 2.795 million euros, 10% higher than that of the first quarter of 2022,” he specified.
Mexico, the fourth that contributed the most
Of the 2,571 million euros obtained in the first quarter of 2023, Banco Santander México contributed 359 million, 44% more than in the same period of 2022.
With that, Mexico It was the fourth country that contributed the most to the group in the quarter, below Brazil, whose contribution was 469 million in the period; Spain with 466 million and the United Kingdom with 395 million. The United States was ranked fifth with 300 million, but with an annual drop of 49%.
By region, Europe contributed 1,189 million euros (42%) in the period, North America 627 million (22%) and South America 790 million (28%). The rest was contributed by Digital Consumer Bank with 244 million (8%).
In Mexico, good evolution in the individual portfolio
In its financial report, regarding Mexico, the group indicated that it continues to strengthen its position in value-added products, in order to increase customer loyalty. “We maintain a good evolution in the portfolio of individuals.”
There, it was highlighted that the beginning of 2023 has continued to surprise upwards, with solid growth in investment, consumption of services and exports.
In the same way, it was mentioned that inflation in Mexico has begun to moderate, both the general index and the subjacent one, although still with high rates.
Good expectation for 2023
“Santander has started the year strong, with results that allow us to confirm the good expectations announced for 2023,” said the Mexican Héctor Grisi Checa, CEO of Banco Santander globally.
It was the first presentation of quarterly results of the financial group headed by the Mexican.
“We have the medium-term objective that the global business contribute more than 40% to the group’s income,” Grisi said in a video.
bank is solid
Regarding the doubts that the markets have recently shown about banking (after the bankruptcy of the American Silicon Valley Bank and the intervention of the giant Credit Suisse), the CEO of Santander stated that the sector as a whole is strong, and that the problems that have emerged are limited to a small number of entities.
“Santander is a solid bank and very well prepared to manage these turbulences, since we have more than 160 million clients and our assets are highly diversified between countries and businesses,” he said.
Goes for 200 million customers by 2025
Within the framework of the presentation of results for the first quarter of the year, Banco Santander recalled that, globally, it aspires to increase the number of customers by 40 million to reach 200 million in 2025, while the goal is that 125 million are active.
“This progress should contribute to increasing revenues by around 7-8% per year on average in constant euros between 2023-2025”, he pointed out.
