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Santander's first-half net profit rises 29%

Bank of Santander Headquarters
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Bank of Santander Headquarters

Spain's biggest bank Santander on Tuesday said net profit rose 29 percent in the first six months of 2013 to 2.25 billion euros ($2.98 billion), in line with analysts' expectations.

The bank, which makes half of its profit in Latin America, said net interest income, a measure of its earnings from loans, fell 13 percent in the period to 13.37 billion euros.

Santander said it planned to always maintain a 'fully-loaded' Basel III capital ratio of 9 percent - which takes into account changes that have to be made by 2019 under stricter international capital rules being phased in as of 2014.

(Read more: Spain will bottom out this quarter: Santander exec)

The bank had previously guided that it would reach a 'fully-loaded' Basel III capital ratio of 8 percent by the end of the year.

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