Banks and energy companies post staggering profits


Banks and energy companies have announced massive profits for the first nine months of this year.

Deputy PM Nadia Calviño said it was ‘correct’ that they should pay an additional temporary tax.

Spanish electricity multi-national Iberdrola recorded a net profit of over €3.1 billion between January and September, up 28.9% on the same period last year.

Repsol announced net profits of over €3.2B up to September, 66.2% more than the same period of 2021, thanks to the hike in fuel prices.

Rising interest rates, amongst other factors, helped banks with Santander recording a net figure of over €7.3B for January to September, up 25%, and Banco Sabadell €709M, up 91.9%.

Full report in today’s Costa Blanca News


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