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Santander records biggest loss in its 163 year history

Christian Fernsby ▼ | July 30, 2020
Banco Santander achieved an underlying profit of €1,908 million in the first half of 2020, down 48%.
Santander consumer USA
Biggest loss   Santander consumer USA
Net interest income and customer revenues remained stable year on year, at €16.2 billion and €21.3 billion.

Topics: Santander

The group is ahead of its cost saving plan, with the European region achieving more than €300 million in efficiencies in the first half of the year, representing 75% of the bank’s 2020 target. Operating expenses fell by 2% or 5% in real terms.