PROVIDENCE – Banco Santander SA’s United States operations reported profit of $152.7 million (125 million euros), a more than 50 percent increase from about $100.4 million one year prior, according to Santander Tuesday.
The unit noted that deposits decreased 6 percent year over year to $71.6 billion, while loans decreased 3 percent year over year to $88.3 billion.
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The U.S. segment of Santander includes Santander Bank in the Northeast, national auto finance lending, an international private banking unit, a broker dealer in New York and retail banking in Puerto Rico.
Total profit for the company was $2.51 billion for the quarter, an increase from $2.28 billion in the first quarter of 2017.
Diluted earnings per share were about 14.5 cents per share (0.119 Euro), very nearly the same from the prior year in which DEPS were also about 15 cents (0.120 Euro).
Net interest income for the company was $10.3 billion, a 0.6 percent year-over-year increase. Quarterly fee income grew 3.9 percent over the year to $3.61 billion.
Chris Bergenheim is the PBN web editor.
