Santander shakes off toxic loans
NPL ratio 145bp lower than at time of Banco Popular takeover
Spanish banking group Santander continued to root out non-performing loans (NPLs) in the second quarter, reducing its ratio of soured assets to total exposures to 3.92% from 4.02% the previous quarter, and 5.37% a year ago.
The value of the NPLs on the bank’s balance sheet fell 2% to €36.6 billion ($42.9 billion) in the second quarter, down from €37.4 billion in the first.
Loan-loss provisions, the cash held against potential loan deteriorations, also fell in the second quarter, to €25.1
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