Economics
Santander's Brazil Patience Pays off as Rebound Lifts Profit
- First quarter net profit for Spain’s lender beats estimates
- Financial sector in Brazil will do “very well,” CFO says
Santander's CFO Sees Brazil Real Boost 1Q Profit
This article is for subscribers only.
Banco Santander SA’s commitment to stick with Brazil even through recession is paying off as the country’s recovering economy and rising currency fuels a jump in the Spanish lender’s profit.
Net income from Brazil, Santander’s biggest market, jumped 77 percent from a year earlier after President Michel Temer’s efforts to boost the economy following the impeachment of Dilma Rousseff helped drive a rise in the currency.