© Reuters. FILE PHOTO: A logo of Santander, the euro zone’s largest lender by market value, is seen on a branch in the Andalusian capital of Seville

MADRID (Reuters) – Spain’s Santander (MC:) on Wednesday said its net profit in the first quarter jumped almost five times as it didn’t book COVID-19 related provisions like a year ago and its U.S. unit posted a solid performance.

The euro zone second-biggest lender in terms of market value booked a net profit of 1.608 billion euros ($1.94 billion) up from 331 million euros in the same quarter last year.

($1 = 0.8282 euros)

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