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Spain's Santander posts 32% profit jump

A Banco Santander office in Madrid, Spain.
Getty Images
A Banco Santander office in Madrid, Spain.

The euro zone's biggest bank Santander on Tuesday reported a 32 percent rise in first-quarter profit from a year earlier, boosted by rising net earnings from loans and a drop in bad debt charges.

The Spanish lender - which makes most of its money outside its home market and is especially reliant on Britain and Brazil - said profit was 1.717 billion euros ($1.87 billion), in line the 1.714 billion euros expected by analysts in a Reuters poll.