Santander Rebounds From Giant Loss With Profit, Capital Lift

(Bloomberg) — Banco Santander SA rebounded from its worst-ever quarter with a profit that beat estimates and improved capital as it seeks to convince regulators that its balance sheet is strong enough to resume dividend payments.Net income totaled 1.75 billion euros ($2.1 billion) in the third quarter, beating estimates of about 1 billion euros, the bank said on Tuesday. The CET1 ratio, a key measure of capital strength, improved to 11.98% from 11.84% at end-June.The results strengthen the Spanish bank’s push to overturn the European Central Bank’s de-facto ban on paying dividends, which has driven down share prices. Santander Chairman …read more

Source:: Yahoo Finance