In 2018, Banco Santander earned a net profit of EUR 7.810 million (approximately USD 8,900 million), which is 18% more than a year ago, while Latin America was the leader of the group.
As banks reported today to the National Securities Market Commission (CNMV), the Spanish stock market regulator grew by 2.6 million affiliated clients in 2018, those who consider Santander as their main unit, while digital customers grew. 6.6 million, reaching 32 million.
The company led by Ana Botín in Latin America earned EUR 4.228 million (USD 4,831 million), which is 1.6% less than in the previous year, although without the impact of the national currency exchange rates, the profit would have increased by 16.5% .
Brazil was again a country that invested more in this account – $ 2.976 million – 2.4% more. Santander Brazil It was a 26% contribution to the global benefit of the group.
Similarly, the region's annual reports on the accounting adjustments required in the context of high inflation were again affected Argentina, which turned into 84 million euros (96 million dollars), which is almost 77% less than in 2017.
"Latin America remains an important driving force for the Group's growth, making good progress, especially in Brazil and Mexico," said Botin.
In general, the bank's business in Latin America was characterized by both interest rates and the "good development" of the commission, as well as an increase in volume and a higher number of customers with "credit improvement".
By countries after Brazil Mexico earned $ 869 million in profits, 7% more, but Chile earned € 614 million ($ 702 million), an increase of 4.9%.
The Grupo Santander also operates in the USwhere it earned 552 million euros (631 million US dollars), 35.4% more due to "favorable business development" and regulatory issues.
Overall, gross loans and advances to Group customers in Latin America increased by 2.4% in 2018, while customer fund deposits and investment funds increased by 1.3%.
In Latin America, the Group's workforce grew by 1,182 employees last year, reaching 90,196, while the branch network was reduced by 105 and was 5,803.