Banco Santander : Santander earns EUR 3,231 million in attributable profit for the first half of 2019, after EUR 814 million of charges relating primarily to planned restructuring costs
July 23, 2019 at 03:35 am EDT
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The Group achieved an attributable profit of €3,231 million during the first half of 2019, down 14% year on year (yoy) after €814 million in charges relating primarily to restructuring costs incurred as part of the bank's plans to reduce its annual cost base in Europe by 10% (€1 billion) as announced at the bank's investor day on 3 April 2019. The charges include: restructuring costs in Spain (€600 million) and the UK (€26 million); and a further PPI provision in the UK (€80 million), in addition to the net charge of €108 million announced in the first quarter.
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Banco Santander SA published this content on 23 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2019 07:34:05 UTC
Banco Santander, S.A. is Spain's largest banking group. The activity is organized into three sectors:
- commercial banking: retail banking activities and specialized financial services (consumer loans, mortgages, etc.);
- investment, financial and market banking: classic and specialized financing (financing acquisitions, projects, etc.), financial engineering (consulting on mergers and acquisitions, stock transactions, etc.), intervention in the stock, rate and exchange markets, etc.;
- asset management and private banking. The group also develops bank insurance activities through Santander Seguros and Banesto Seguros.
At the end of 2023, the group managed EUR 1,047.2 billion in current deposits and EUR 1,036.3 billion in current credits.
The products and services are marketed via a network of 8,518 branches worldwide.
Banco Santander : Santander earns EUR 3,231 million in attributable profit for the first half of 2019, after EUR 814 million of charges relating primarily to planned restructuring costs
BANCO SANTANDER, S.A. 
