IBOS member Santander’s attributable profit for 2018 increased 18%

IBOS member Santander has announced that the attributable profit for 2018 reached €7,810 million – up 18%.

This increase is a result of strong growth in customer revenues in several markets, including Brazil, Spain, Mexico and the US, combined with improvements in credit quality, more than offset the impact of exchange rate depreciation against the euro in certain currencies, including the Argentine peso.

In Q4 2018 alone, attributable profit was up 34% to €2,068 million, compared to Q4 2017. As a result, the Santander Group has achieved its target of increasing earnings per share by double digits in 2018 with EPS increasing to €0.449, up 11.2% compared with 2017.

Gross income in 2018 increased by 9% in constant euros to €48,424 million, the highest level on record for the Group, with the Group increasing lending and customer funds by 4% in constant euros, while increasing the number of loyal customers (people who see Santander as their main bank) by 2.6 million to 19.9 million. Total customer numbers increased by 11 million in the year to 144 million.

During 2018, the number of customers using digital services increased by 6.6 million in the year to 32 million, with ongoing investment in technology driving an increase in digital service adoption and improving the customer experience. 48% of active customers now use digital services regularly.

The Group ranks among the top three banks for customer satisfaction in seven core markets. Openbank, which launched several new services in 2018, has increased mortgage balances by 370% after the first full year of mortgage sales, as well as increasing deposits by 19%. In April 2018, we launched One Pay FX, the first blockchain-based retail payment solution, in four countries leading to a 55% increase in foreign exchange transactions in Spain since launch.

Read the full press release via Santander here.