Investor Presentaiton
Q1 underlying profit of EUR 2 billion driven by solid net operating income
growth (+15% YoY) and lower cost of credit
% change
Q1'21 (vs. Q1'20)
Underlying
att. profit¹
(EUR mn)
Contribution
to Group's
Underlying profit¹
EUR mn
Q1'21 Q1'20 Euros
Constant euros
NII
7,956
8,487
-6
5
Europe
826
+338%
31%
Net fee income
2,548
2,853
-11
0
Trading and other income
886
474
87
95
Total income
11,390
11,814
-4
8
North
773
29%
Operating expenses
-5,118
-5,577
-8
0
America
+205%
Net operating income
6,272
6,237
1
15
LLPs
-1,992
-3,909
-49
-43
South
773
29%
Other results
-467
-372
26
42
America
+41%
Underlying PBT
3,813
1,956
95
133
Underlying att. profit
2,138
377
467
Restructuring charges²
-530
-46
Digital
Consumer Bank
291
11%
+25%
Attributable profit
1,608
331
386
998
Santander
(1) Changes in constant euros. Contribution as a % of operating areas and excluding the Corporate Centre
(2) Net of tax, corresponding mainly to the UK and Portugal
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