Santander Profit Surges as Bank Focuses on Lending Growth
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Banco Santander SA said profit surged in the fourth quarter on higher revenue from loans as Chairman Ana Botin revamps the acquisitions strategy of her late father.
Net income rose 68 percent to 1.46 billion euros ($1.7 billion) in the fourth quarter from 864 million euros a year earlier, the lender said in a statement Tuesday. The results were in line with the average of 12 analyst estimates compiled by Bloomberg.