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Banco Santander posts record 11-bn-euro profit in 2023

Spanish lender Banco Santander reported on Wednesday a record 11.1-billion-euro ($12 billion) net profit for 2023 on the back of higher interest rates and a rise in global clients.

The figure was 15 percent higher than in 2022, when it posted a profit of 9.6 billion euros, and better than the 10.6 billion euros forecast by analysts surveyed by financial data firm FactSet.