Santander posts record profit in 2023 after rate hikes
Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax.Also Tuesday, Spain's second-largest bank BBVA posted profits of eight billion euros in 2023, in a figure 22 higher than a year earlier, which was also a record.