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IBOS member Santander has reported an earning of €6,515 million in attributable profit in 2019 as fourth quarter profit increased by 35% to €2,783 million.

In Q4 2019  alone, Santander’s attributable profit increased to its highest level ever at €2,783 million (up 35% YoY). Through successful execution of its strategy, Santander generated record total annual revenues of more than €49 billion in 2019, up 2%, supported by strong growth in customer revenues in the Americas.

The Group delivered solid growth in business volumes, with loans and customer funds increasing by 4% and 6% respectively year on year on a constant currency basis. The global businesses, Santander CIB (corporate and investment banking) and Wealth Management & Insurance, have continued to show superior growth, leveraging the strength of Santander, contributing 26% of the Group’s underlying profit.

Loyal customers increased 9% to 21.6 million and digital customers grew to 37 million in 2019. The number of sales through mobile doubled in the year. The Group’s digital transformation continued to drive increased customer engagement while allowing Santander to maintain a best-in-class efficiency ratio of 47%.

Read the full press release via Santander here