Spanish bank Santander has reported a fall in total group income for the third quarter of 2020 with a value of €33.6 billion from €36.9 billion during the same quarter of 2019.

Santander reported GDP contractions of -9%, -18.7%, and -12.4% for the US, Mexico, and Brazil respectively with global activity recording steady gains in Q3 20 despite being momentarily impacted by a resurgence of the Covid-19 pandemic. Derivative instruments for the group totalled €15.1 billion, a 3.8% decrease from Q3 19’s €15.7 billion; risk weighted assets (RWAs) stood at €555 billion, a 9.5% drop from €613 billion in the third quarter of 2019. As an issuer group, the bank led by Ana Botín

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