Santander's first-half net profit rises 29 percent
MADRID, July 30
MADRID, July 30 (Reuters) - Spain's biggest bank Santander on Tuesday said net profit rose 29 percent in the first six months of 2013 to 2.25 billion euros ($2.98 billion), in line with analysts' expectations.
The bank, which makes half of its profit in Latin America, said net interest income, a measure of its earnings from loans, fell 13 percent in the period to 13.37 billion euros.
Santander said it planned to always maintain a 'fully-loaded' Basel III capital ratio of 9 percent - which takes into account changes that have to be made by 2019 under stricter international capital rules being phased in as of 2014.
The bank had previously guided that it would reach a 'fully-loaded' Basel III capital ratio of 8 percent by the end of the year. ($1 = 0.7545 euros) (Reporting by Sarah White; Edited by Fiona Ortiz)
- Tesla prevails in top Massachusetts court over direct sales
- Obama to deploy 3,000 troops as Eboola crisis worsens
- Russia needs government investment to avoid recession, says former finance minister
- World stocks hit one-month low, caution ahead of Fed
- Ahead of independence vote, Britain pledges state funding to Scotland