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Santander 9 mth net profit down 66 pct on property writedowns
MADRID Oct 25 (Reuters) - The euro zone's biggest bank Santander on Thursday reported 9 month net profit of 1.8 billion euros ($2.3 billion), down 66 percent on the year ago period, as it wrote down 5 billion euros of losses on bad real estate investments in Spain.
The bank said it had now absorbed 90 percent of the government-enforced writedowns related to property assets.
Santander reported net interest income of 23 billion euros, up 7 percent on the year-ago period and in line with a Reuters polled forecast. ($1 = 0.7711 euros) (Reporting By Sonya Dowsett; Editing by Julien Toyer)
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