Spanish banking giant Banco Santander has reported an attributable profit of €4.37 billion (US$59.3 billion) for the year 2013, a surge of 90% over 2012.

The bank in its statement said that Latin American and Polish operations accounted for more than half of its profit in 2013, but profit in Latin America declined 23.6%, to €3.26 billion, from €4.26 billion a year ago.

Earnings from Brazil, the biggest contributor to Santander’s profit, fell 28 percent from a year ago to €1.58 billion for the full year.

However, the Spanish group’s customer funds under management fell to €924.621 billion from €968.9 billion in 2012.

Santander president Emilio Botin said the bank "is embarking on a period of strong profit growth in the coming years" after several years of strengthening the balance sheet and its capital base.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.