Profits at Santander have risen by 16 per cent to €4.9 billion in the first half of the year.
In Europe, underlying profit was up 38 per cent to €1.8 billion, in part driven by a seven per cent decrease in costs.
The bank said that digital adoption has continued to increase, with 56 per cent of sales now carried out through online or mobile channels.
The number of customers using digital channels increased by 10 per cent to 50 million during the six-month period.
Santander’s executive chair Ana Botín warned that the current economic climate will likely be difficult for governments, central banks, businesses, and individuals in the months ahead.
“Despite the uncertainty and economic headwinds, we remain confident in our ability to meet the group’s performance targets for 2022, while continuing to focus on growing TNAV and dividend per share over the medium term, after a 9 per cent increase in the last twelve months,” she said.
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