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SANTANDER

Banking titan Santander reports 2013 profit leap

Spain's Santander bank, the largest in the eurozone by market value, reported Thursday a 90.5-percent leap in net profits for 2013, hailing a "turnaround" after enduring years of economic crisis.

Banking titan Santander reports 2013 profit leap
Photo: Pierre Phillipe Marcou/AFP

Financial troubles in Spain and other fragile eurozone economies had forced Santander to slash the estimated value of its assets in turbulent economies in past years, eroding its profits.

In 2013, however, net profit leapt to €4.37 billion ($6 billion), up 90.5 percent from the previous year.

Net banking income fell 13.3 percent to €25.935 billion over the same period.

"After several years of strengthening the balance sheet and capital, Banco Santander is embarking on a period of strong profit growth in the coming years," Santander chairman Emilio Botin said in a statement.

Santander said the 2013 results marked a "turnaround" after suffering declining profits in recent years.

Despite the international economic crisis, especially in the eurozone, Santander said its worldwide operations had allowed it to produce a profit in every quarter of the past five years.

In 2013, it said, 53 percent of group profit came from emerging markets.

Over the five years of crisis, the bank said it had set aside €65 billion in provisions and boosted the share of rock solid core capital by €18.4 billion, or 4.13 percentage points, to 11.7 percent of all capital.

In the final quarter of 2013 alone, Santander said net profit rose 0.4 percent from the figure a year earlier to €1.06 billion. Net banking income fell 0.1 percent to €6.28 billion over the same period.

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ROMA

Santander stuns Inter, Roma rescue a point against AC Milan

Federico Santander scored the winner as struggling Bologna stunned Inter Milan 1-0 to pile the pressure on coach Luciano Spalletti as Roma rescued a point with a 1-1 draw to AC Milan in Serie A on Sunday.

Santander stuns Inter, Roma rescue a point against AC Milan
Federico Santander and Milan Skriniar during the Serie A football match Inter Milan vs Bologna on February 3, 2019 at the San Siro stadium in Milan. Miguel Medina / AFP

Santander's header gave new coach Sinisa Mihajlovic the perfect start as his relegation-threatened side earned their first win in over four months.

But Spalletti's Inter were booed off the pitch at the San Siro after their third-place cushion was cut to four points on city rivals AC Milan, who occupy the final Champions League berth, with Roma a further point back in fifth.

Paraguayan forward Santander broke through after 33 minutes with his header enough to seal just a third win this season and first since September 30.

Inter are still searching for their first win of 2019, being held to a goalless draw by Sassuolo and losing 1-0 to Torino in Serie A before exiting the Coppa Italia on penalties to Lazio in the San Siro this week.

“Unfortunately when we have to fight or to cope with difficulties we lack something, that bit of dash that can make you make a difference,” said Spalletti. 

“In any case, I repeat, I don't feel under scrutiny. The team is still behind me, I'm convinced,” added the former Roma and Zenit St Petersburg coach. 

The damage could have been worse but for a solid performance from goalkeeper Samir Handanovic, with captain Mauro Icardi proving wasteful, extending his goal drought in Serie A to six games.

Bologna keeper Lukasz Skorupski denied Andrea Ranocchia a late equaliser as the northern side reignited their push for top-flight survival.

“I couldn't have dreamed of a better start,” said Serb Mihajlovic. 

“This proves that if you are brave you can do anything – you can beat Inter at the San Siro.”

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'Slap in the face'

At the Stadio Olimpico, Roma eased the pressure on their coach Eusebio Di Francesco who was still stunned by a 7-1 Coppa Italia whipping by Fiorentina.

AC Milan's Lucas Paqueta combined to set up fellow new boy Krzysztof Piatek to tap in after 26 minutes for his third goal in two outings.

But Roma piled on the pressure with AC Milan saved by goalkeeper Gianluigi Donnarumma's heroics denying Patrik Schick and Edin Dzeko before the break.

Just after the interval Nicolo Zaniolo equalised for the hosts who were boosted by the return of veteran midfielder Daniele De Rossi.

Donnarumma again came to the rescue to frustrate Dzeko, while a searing Lorenzo Pellegrini header rattled the post, with Roma goalkeeper Robin Olsen denying Diego Laxalt late.

“It's a pity we need a slap in the face before waking up,” said Di Francesco. “This was a positive response to Florence, but could never wipe out that game, even if we had won. 

“The lads showed character and I hope it is yet another starting point.”

“Roma probably deserved a little more, but I really liked our second half performance,” said Milan coach Gennaro Gattuso.

Both Milan and Roma edge closer to Inter but Atalanta and Lazio have a chance on Monday to close in on the top four against Cagliari and Frosinone respectively.

Earlier Fiorentina battled back to share a point in a 1-1 draw with Udinese, as the Tuscany side sit five points off the Champions League places.

The match was halted at the 13th minute as the fans remembered former Fiorentina captain Davide Astori, who died before last year's game in Udine.

Elsewhere Paraguayan striker Toni Sanabria scored his second goal in as many games for Genoa since his loan move from Real Betis, in a 1-1 draw with Sassuolo.