- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
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- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
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- Pakistan 79-2 at lunch in second England Test after Leach strikes
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- Taiwan detects record 153 Chinese military aircraft after drills
- Oil prices drop on easing fears over Middle East, most markets rise
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- Supporters of ex-Bolivia leader Morales block roads over possible arrest
- Germany into Nations League quarters, France and Italy win
- Nagelsmann lauds 'supercharged' Germany's 'best half of the year'
- 'Pandas are coming': Two new bears depart China for US capital
- Dodgers pitcher Kershaw plans to return for 2025
- Mbappe 'investigated for rape' in Sweden: report
- Revived Italy sweep past Israel in Nations League amid high security
- Trudeau slams India as tensions soar over Sikh separatist's murder
- Harris courts Black voters as Trump makes inroads
- Wall Street stocks hit fresh records as oil prices slide
- Nigerian team return home after boycotting AFCON qualifier in Libya
- Nigeria refuse to play in Libya as Algeria, Cameroon qualify
Santander racks up another record quarter
Spanish lender Banco Santander announced Wednesday another record quarterly profit thanks to high interest rates and a growing customer base.
Net profit rose 20-percent year-on-year rise in the third quarter to 2.9 billion euros ($3.1 billion), beating analyst expectations and the 2.67 billion euros it earned last quarter.
"The group achieved another record quarter..." said chief executive Ana Botin.
"We have added nine million customers, increased revenues by 13 percent, and continue to make excellent progress in simplifying the business," she added.
The bank, which boasts major operations in several countries in Europe and Latin America, saw its nine-month profit hit 8.14, raising the possibility it will surpass the symbolic barrier of 10 billion euros in annual net earnings.
The rise in global interest rates has been a boon for most banks, including Santander, as it has increased margins on their lending operations.
But the bank also noted it has benefitted from a growing customer base, which is up by more than nine million over the past year to 166 million.
Meanwhile, deposits rose 4 percent.
M.Fischer--AMWN