Lisbon, Oct. 29, 2025 (Lusa) - Santander Totta reported profits of €728.2 million up to September, 6.4% less than in the same period last year, the bank said in a statement on Wednesday.
The reduction in consolidated profit was, however, lower in percentage terms than the reduction in net interest income - the difference between interest paid on deposits and interest received on loans - which fell 17.3% to €1.029 billion.
According to the bank, this fall continues to “reflect the cycle of lower interest rates implemented by the ECB [European Central Bank], which resulted in the deposit rate falling by 150 basis points to 2.0%, which in turn was passed on to the loan portfolio”, which is mostly indexed to variable rates.
In the first nine months, commissions rose 5.9% to €365.2 million, an increase attributed to the growth in the customer base.
On the other hand, operating costs fell 0.4% to €388.4 million, driven by increased sales through digital channels and process simplification.
The loan portfolio grew 7.3% among individuals and 10.7% among companies and institutions, to €26.976 billion and €25.187 billion respectively.
For individuals, mortgage loans rose 7.4% to €24.698 billion and consumer loans by 9.3% to €2.064 billion.
In turn, deposits increased by 5.6% year-on-year to €39.055 billion.
In terms of credit quality, the bank said that it ‘remained solid’ and that it benefited from the context of full employment, income growth and lower interest rates.
Net impairment of financial assets at amortised cost fell 46.5% to €7.4 million, while the amount allocated to provisions and other results fell to €2.3 million, against €38.5 million a year ago.
The problem loan exposure ratio (NPE) fell 0.3 percentage points to 1.4%, while the tier 1 core capital ratio reached 13.5% (-3.2 percentage points compared to the same period in 2024).
The efficiency ratio rose 3.1 percentage points to 27.3 per cent.
At the end of September, Santander Totta had 4,674 employees and 327 branches in Portugal, compared to 4,580 and 329 at the same time last year.
Santander Totta is owned by the Spanish banking group Santander, which today reported profits of €10.337 billion in the first nine months of the year, 11% more than in the same period in 2024.
Santander Totta released its results today only in a press release, without holding a press conference.
JO/ADB // ADB.
Lusa
