Banco Santander earned 2,543 million in the first quarter, 58% more

• Annual results Banco Santander earns 8,124 million in 2021 and will distribute 40% of the profit in dividends and repurchases

Banco Santander obtained an attributable profit of 2,543 million euros in the first quarter of 2022, 58% more in current euros than in the same period of the previous year, when the entity recorded a charge of 530 million for restructuring costs.

As reported to the National Securities Market Commission (CNMV), without this impact, ordinary profit increased by 19% in current euros.

Total income stood at

more in constant euros and 8% more in current euros thanks to the appreciation of most currencies.

Net interest income and commission income provided 95% of the group's income.

Customer funds reached their highest figure of €1.1 trillion, up 5%, and

to €906 billion, thanks to increases in most countries.

The strong activity, as well as the rise in official interest rates in some of the main markets where the group operates, boosted net interest income by 6%, with particularly strong growth in the United Kingdom (15%), Poland (78% ), Brazil and Mexico (7%) and Argentina (69%).

The president of Banco Santander, Ana Botín, described the

and highlighted that "although the effects of inflation will have repercussions on world economic growth with different impacts on each region and business,

, which which demonstrates the advantages of our model".

Conforms to The Trust Project criteria

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