Santander Tops 2Q Estimates on Spain Profit Boost

The transcript discusses Santander's strong quarterly results, driven by higher interest rates and customer growth. It highlights a 2.7 billion return on tangible equity and a 12% value creation for shareholders. The company added nine million new customers in the first half of the year. While facing rate sensitivity in Europe, Santander anticipates benefits from rate changes in South America in 2024, maintaining a positive outlook for future earnings.

What was the return on tangible equity reported by Santander?

What factors contributed to the value created for shareholders over the last 12 months?