Correction to Santander Story

By Jeannette Neumann Features Dow Jones Newswires

Banco Santander SA (SAN) said net profit and net interest income rose in line with figures it had pre-announced early this month when it launched a capital increase to fund its cleanup of Banco Popular Espanol SA.

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Santander said net profit rose to 1.75 billion euros ($2.04 billion) in the second quarter from EUR1.3 billion a year earlier. Net interest income in the first quarter was EUR8.61 billion compared with EUR7.57 billion. Those figures include its acquisition of Banco Popular.

Santander's capital ratio was 9.58% in June compared with 10.66% in March under international regulations known as "fully loaded" Basel III criteria. Santander has among the lowest ratios of major European banks and investors are closely attuned to how it builds its capital.

Since those figures were expected, investors and analysts will be listening closely to the conference call held by executives later Friday morning for more details about how Santander expects to dispose of Banco Popular's property assets.

-Write to Jeannette Neumann at jeannette.neumann@wsj.com

Net interest income in the second quarter was EUR8.61 billion compared with EUR7.57 billion a year earlier.("Santander Net Profit Rises," at 0525 GMT, misstated the reporting period in the second paragraph.)

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(END) Dow Jones Newswires

July 28, 2017 03:13 ET (07:13 GMT)