Spanish banking group Banco Santander has reported attributable profit of €1.28bn for the second quarter of 2016, down 49.7% from €2.54bn a year ago.
The quarter included restructuring costs of €475m, a contribution of €120m made to the European Resolution Fund, offset by a gain of €227m on the sale of its stake in Visa Europe, the bank said in its earnings statement.
Net interest income was €7.57bn, a fall of 8.6% from €8.28bn in the prior year. Net operating income dipped 7.8% to €5.7bn from €6.19bn a year earlier.
Banco Santander Group executive chairman Ana Botín said: “We continue to deliver on our commitments and reaffirm guidance of an increase in earnings and total dividend per share in 2016, despite worse than expected economic conditions.
“We are improving the quality of our balance sheet (NPLs fell), solvency (core capital improved 9 bps, to 10.36%), and profitability (RoTE reached 11.1%). Customer loans and deposits grew by 4% and digital clients reached 19.1 million (+23%).”