Fourth-quarter revenues were just over €11bn, up from €10bn a year earlier.
Fourth-quarter profits rose 69% from €864 million to €1.46 billion due to decline in bad loans, though Reuters sees this as slightly below forecasts.
In the fourth quarter, provisions for delinquent and defaulted loans fell over 11%, to €2.45 billion, from the same period a year earlier.
Net interest income rose nearly 12%, to €7.71 billion in the fourth quarter, from €6.93 billion in the period a year earlier.
Operating expenses rose 3%, to €5.22 billion in the fourth quarter.
Full year profits for one of Europe’s largest bank rose 39% to €5.82 billion.
Santander’s full-year earnings in Spain nearly tripled to €1.12 billion, up from €466 million in 2013.
Santander also boosted capital in January by €7.5 billion and cut the dividend to strengthen its balance sheet.
Ana Patricia Botín took over from her father Emilio in September 2014 after he passed away – this quarter earnings are a result of her reshaping of the bank, boardroom executives and dividend policies.
In Britain, the bank’s profit rose 37%, in Latin America profit declined to €3.15 billion from €3.18 billion, and in Spain profits were €299 million.
The bank’s new dividend policy will provide four payments a year of €0.05 per share; three are cash payments, the fourth is the shareholder’s choice of either a scrip dividend or cash - previously, Santander’s dividend was in scrip.
MT4 chart: Santander
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