Santander’s profits fell 35%, but Botín is betting on vaccine for 2021

Santander, which suffered its first loss in its 163-year history in the second quarter of 2020, posted a pre-tax profit of 35% to € 9.6 billion.

However, Ana Botín, General Manager of Santander, is confident that the bank’s profit will recover this year due to the introduction of COVID-19 vaccinations.

The results

The provisions for future losses – d. H. Bad debt losses as a result of the pandemic – increased by 31% to EUR 12.1 billion. Co-Lender, Virgin Money, …

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