Brazil growth helps Banco Santander post 37% rise in Q2 profit

Madrid

A BUOYANT Brazilian business and a revenue boost from the integration of Banco Popular helped Banco Santander post a 37 per cent rise in second-quarter net profit, though the bank's capital and bad loan ratios were hit by the acquisition.

The eurozone's biggest lender by market value - which consolidated Banco Popular in its accounts for the first time since it took over the troubled Spanish lender on June 7 - reported net profit of 1.75 billion euros (S$2.79 billion) in the period from April to June, beating analysts' forecasts.