Banco Santander recorded a net profit of 11,076 million euros in 2023, a record figure and 15% higher than that of 2022. Revenues grew by 11%, to 57,647 million.
The increase in both customer activity and interest rates led to a 12% increase in net interest income. Commission income increased 2% thanks to the sale of value-added products, especially in global businesses. Interest margin and commission income represent more than 95% of the group's total income.