Santander Totta’s profit increased by 19.6% to 185.9 million euros from January to March in equivalent terms, in a quarter marked by rising interest rates and higher deposit fees, the bank announced this Thursday.
“Despite the dynamism of Santander’s balance sheet mobilization activities in Portugal during the first three months of the year, which were well in excess of €1,500 million per month, business volumes reflected a new context of high interest rates with an advance amortization loan,” it said in a statement. banking institution in the application.
Thus, from January to March, loans to customers amounted to 42,600 million euros, which is a 2.2% decrease compared to the value for the same period in 2022, which, according to the bank, “is largely due to the early amortization of loans to companies.”
The €22,700 billion mortgage loan portfolio rose 1.8% year on year.
In the first quarter, customer funds decreased by 5.5% to €44,800 million, reflecting a decrease in deposits (-4.9%), “largely attributable to the aforementioned early amortization of loans”, as well as unearmarked funds. balance (-8.4%), “still depends on the situation in the financial markets,” says Santander Totta.
Author: Portuguese
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.