By Giulia PetroniBanco Santander SA on Tuesday reported an increase in net profit for the first quarter and said it is on track to meet its full-year targets. The Spanish lender (SAN.MC) said quarterly net profit was 2.57 billion euros ($2.84 billion) compared with EUR2.54 billion in the same period a year earlier and above analysts' expectations of EUR2.50 billion, according to a consensus forecast provided by FactSet. Net interest income--the difference between what banks earn on loans and pay clients for deposits--increased by around 17% to EUR10.40 billion, and net fee income rose 8% to EUR3.04 billion. Write to Giulia Petroni at giulia.petroni@wsj.com- Giulia PetroniThis content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires04-25-23 0209ETCopyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal April 25, 2023 06:14 UTC