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| Date |
27/04/2001 |
| Companies
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BANCO SANTANDER CENTRAL HISPANO - |
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BSCH net up 38% |
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Banco Santander Central Hispano reported net profits up 41% at €2,413. The big increase was influenced by the acquisitions during the period. EPS was up 15.6% at €0.59 and Return on Equity actually down at 18.6% versus 22.8%. Another influence on profits was the sale of 0.5% of its holding in Royal Bank of Scotland.
There were big gains on the interest income side with net interest income at €2,413m, an increase of 41%. Cost to income moved the wrong way at 55.7% a two full percentage points worsening. The RBS share sale is understood to be specifically for cash purposes and not any 'falling out' in the two banks strategic relationship. The bank also announced a withdraw from the Banca Sanpaolo shareholder pact which is covered in a separate item.
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