In the first six months of this year, the net interest margin, reflecting the difference between interest charged on loans and interest paid on deposits, fell 19.3% compared to the same period last year, amounting to 695.7 million euros.
In a press conference, Santander Totta’s CEO, Pedro Castro e Almeida, noted that the profit decline from last year’s 547.7 million euros was tied to “the reduction in interest rates, particularly on loans.”
