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Spanish Banco Santander's profit down 32 pct in H1

Xinhua, July 28, 2016 Adjust font size:

Spain's Banco Santander reported 2.911 billion euros (3.199 billion U.S. dollars) of profit in the first half of the year, a 32-percent decrease when compared with the same period of 2015, the bank said Wednesday.

According to the bank, the decline was "affected by one-offs and the depreciation against the euro of the currencies of the main countries where the group is present."

The bank reaffirmed its goal of increasing cash dividend per share by 10 percent and total dividend per share by 5 percent in 2016.

"Banco Santander improved the quality of its balance sheet, its solvency and its profitability," the bank said, which allows it to "end the year with an increase in earnings per share."

Europe contributed 57 percent to the group's profit, with Britain contributing 20 percent and Spain 15 percent, where ordinary attributable profit amounted to 616 million euros, an 8-percent rise when compared with the same period of a year earlier.

Meanwhile, the Americas contributed 43 percent to Banco Santander profit, with Brazil and Mexico contributing 19 percent and 7 percent respectively. (1 euro = 1.09 U.S. dollars) Endit