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IBOS member Banco Santander earns €6,204 million in 2016, up 4%, compared to 2015, in a report released 25 January 2017.

In the Q4, the bank generated €1,598 million in attributable profit, in comparison to €25m in Q4 2015. Santander Group continued to earn the trust of more customers during 2016, in which lending and customer funds increased by 2% and 5% respectively while the number of loyal customers grew by 1.4 million to 15.2 million. As a result, the total number of customers increased by 4 million to 125 million.

The Group’s investment in technology helped increase the number of digital customers by 4.3 million to 20.9 million. This, combined with strong cost discipline, allowed Santander to maintain its position as one of the most efficient banks in the world, with the cost/income ratio remaining broadly stable at around 48%, while also driving improvements in customer satisfaction. Santander now ranks among a top three highest rated banks for customer satisfaction in eight of the nine core geographies where the Group carries out retail and commercial banking.

Ana Botin, Executive Chairman at Banco Santander Group, commented:

“In 2016 Santander has achieved strong results, meeting all our strategic and business objectives. We have earned the loyalty of a further 1.4 million customers, serving 125 million people and businesses across Europe and the Americas and increasing lending by 2%.

The strength of our business model and the discipline in execution, has allowed us to accumulate more than €3 billion of capital in 2016, taking our CET1 ratio to 10.55%, exceeding our target. During the year we have also increased earnings per share, dividend per share and tangible net asset value per share.”

The highlights from the report are as follows:

  • Loyal customers increased by 1.4 million to 15.2 million, with lending and customer funds up by 2% and 5% respectively, excluding currency movements
  • Tangible net asset value per share increased by 3.7% to €4.22 in the year, cash dividend per share increased by 8% to €0.17 and earning per share increased by 1% to €0.41
  • Common Equity Tier 1 ratio increased by 50 basis points in the year to 10.55%
  • In the fourth quarter alone Santander generated €1,598 million in attributable profit, compared to €25 million in Q4 2015

Read the full release, via Santander Group’s website, here.