The first quarter results of Santander indicate that the Spanish bank has benefited from its takeover of sections of the Dutch bank ABN Amro.
On Tuesday Santander said its net profit for the first three months was €2.21bn. This figure would have been €2.06bn without the contribution of ABN Amro’s Latin American activities which have been partially consolidated into Santander’s results.
Santander was part of a consortium that took over ABN Amro for around €71bn last year.
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