Spain's Santander posts 20% hike in net profit as retail business shines

Banco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity, after firm revenues and margin management in Europe and Brazil. The bank's ratios also firmed, with its fully-loaded CET1 ratio (a measure of a bank's solvency) up from 12.3% in the March quarter to 12.5% in the three months to June. Santander now expects revenues will hit high-single digit growth, from a previously forecast mid-single digit expansion. Pre-tax profit ...