Santander Totta's profits fell 8.8% by September to 663.8 million

Santander Totta reported a profit of 663.8 million euros for the first nine months of the year, an 8.8% decrease compared to the previous year. This decline was mainly due to 29.9 million euros in costs related to agency restructuring and early retirements. Excluding non-recurring effects, the recurring net result fell by 1.0% to 693.7 million euros. The bank's financial margin decreased by 1.3% to 1.0157 billion euros, despite growth in the credit portfolio. Commissions rose by 4.8% to 382.9 million euros, while adjusted operational costs decreased by 0.7%. Credit portfolios grew by 6.5% for individuals and 10.3% for businesses. Deposits increased by 6.3% to 41.529 billion euros. Santander Totta is owned by the Spanish Santander group, which reported a profit of 12.405 billion euros, a 20% increase from last year.