The private banking, asset management and insurance business of Spanish banking giant Santander has posted profit before taxes of EUR260m for the fourth quarter of 2014, an increase of 4.9% compared to the third quarter of 2014.
The division’s quarterly revenues were EUR1.207bn, to which private banking contributed EUR242m while asset management and insurance segment contributed EUR286 and EUR679m respectively.
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The division’s net interest income declined 2.4% to EUR116m.
Overall, the lender’s profit attributable to the group jumped to EUR1.455bn from EUR864m.
Gross income for the quarter was EUR11.04bn, compared with EUR10.017bn a year ago.
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