BancoSantander, S.A. ("Santander"), the euro zone's largest bank has released their results for Q1 2009, postin a 5% fall in net profit to €2.096 billion.
Net interest revenue rose 22.2% to €6.23 billion, while operating profit rose 12% to €9.454 billion.
Bad loans as a percentage of total lending rose to 2.49 per cent at the end of the first quarter from 2.04 per cent at the end of 2008.
The results were presented in accordance with new Bank of Spain guidelines, which meant 2008 figures were restated.