Santander Rebounds From Giant Loss With Profit, Capital Lift
- Profit of $2.1 billion comes after first loss in 163 years
- Improved capital helps make bank’s case for paying dividends
This article is for subscribers only.
Banco Santander SA rebounded from its worst-ever quarter with a profit that beat estimates and improved capital as it seeks to convince regulators that its balance sheet is strong enough to resume dividend payments.
Net income totaled 1.75 billion euros ($2.1 billion) in the third quarter, beating estimates of about 1 billion euros, the bank said on Tuesday. The CET1 ratio, a key measure of capital strength, improved to 11.98% from 11.84% at end-June.