Banco Santander reported earnings in line with expectations on Wednesday, supported by a solid performance in Brazil and Spain.
The euro zone's largest bank by market value posted attributable net profit of 1.99 billion euros ($2.256 billion) for the three-month period ending Sept. 30. Analysts at data firm Refinitiv had been expecting third-quarter net profit to come in at around 1.98 billion euros.
In the third quarter of 2017, Santander reported net profit of 1.461 billion euros.
"We had a very strong quarter … And our goal going forward is keep the trend that we have seen in this quarter," Jose Garcia Cantera, Chief Financial Officer at Santander, told CNBC's "Squawk Box Europe" on Wednesday.
Here are the key takeaways:
- Third-quarter net profit: 1.99 billion euros vs. 1.98 billion euros expected by analysts at Refinitiv.
- Santander's net profit rose roughly 36 percent compared to the same period a year earlier, when a number of one-off charges capped net profit to 1.461 billion euros.
- The bank reported its core capital ratio stood at 11.11% at the end of September.
When asked whether he was concerned about weaker-than-anticipated euro zone GDP figures, Cantera replied: "There are some ups and downs but in the markets that we operate, basically Spain, Portugal and consumer lending in Europe, we see quite positive trends."
"So, yes the economy is not really recovering strongly but it is keeping a relatively good pace and starting to spur good growth in credit."