Santander Seen Little Impact From Brexit So Far: Cantera
Banco Santander SA beat analyst estimates with a third-quarter profit that was barely more than flat, as Brazil and its European consumer finance business helped offset a Brexit-induced drop in U.K. revenue. For the three months through September, net income rose 0.9 percent to 1.7 billion euros ($1.85 billion) from 1.68 billion euros a year earlier, Spain’s biggest bank said Wednesday in a regulatory filing. The results beat the 1.54 billion-euro average estimate in a Bloomberg survey of six analysts. CFO Jose Antonio Garcia Cantera says the U.K. is a market where Santander wants to grow organically, in phone interview with Guy Johnson in London and Caroline Hyde in Berlin on "Bloomberg Markets: European Open."