Santander consolidated NOI up 5% in 2015

The consolidated net operating income of Santander grew 5% to 29.5bn euros in 2015, with net interest and fees revenue advancing 8.9% and 3.5%, respectively.

Management of non-performing loans also showed a continued improvement along the year, as the NPL ratio decreased to 4.36% in December 2015 from 5.19% a year before.

The group's net operating income fell in Brazil (3.6%), Poland (13.7%) and Spain (15.7%) last year, while increasing in continental Europe (0.6%); the UK (15.4%); Latin America (1.3%) and the US (27.7%).

Brazil, with 6.7bn euros, represented approximately 28% of Santander's consolidated 2015 NOI. Mexico, with 1.9bn euros, accounted for 8%; and Chile, with 1.2bn euros, for 6%.