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Spain's Santander posts 5 pct rise in third-quarter profit

Santander, the euro zone's biggest bank, said on Thursday net profit rose nearly 5 percent in the third quarter from a year ago to 1.7 billion euros ($1.9 billion), even as it took a hit from depreciating currencies in Latin America.


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

Its net profit was in line with forecasts in a Reuters poll.

The bank's net interest income, or earnings on loans minus deposit costs, stood at 8 billion euros in the July-September period, nearly 7 percent up from a year earlier, though it fell compared by close to 4 percent from the second quarter of 2015.