Banks to announce record profit of 29.2 billion
The recovery in net interest income and commercial dynamism drive results, despite macroeconomic uncertainty.
Spanish banks are set to report a record third quarter, with six listed banks expected to post a combined profit of over 29,200 million euros, a 15% increase from the same period last year. Santander is expected to see a 21% increase in profit to 12,544 million euros, boosted by the sale of its Polish business. BBVA, CaixaBank, and Bankinter are also expected to report double-digit growth in profit, while Unicaja and Sabadell are expected to see more modest increases.
The banks' results will be influenced by factors such as interest rates, credit demand, and cost discipline, with investors watching for signs of impact from economic uncertainty in countries such as Brazil and Argentina.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
