Santander sets securities swap worth 9.1 bln eur

MADRID, July 9 (Reuters) - Spain's Santander (SAN.MC) said on Thursday it has set a securities swap of bonds and shares worth a total of 9.1 billion euros ($12.67 billion). Spain's largest bank by market capital said first half net profit is in line with its full year earnings target to match 2008 profit of 8.876 billion euros.

Santander said its core capital ratio has risen from 7.3 percent registered at the end of the first quarter by an expecetd 10 to 15 basis points per quarter. (Reporting by Paul Day Editing by Andrew Hay)