Banco Santander reported a 14% increase in attributable profit during Q1 2017 to €1,867 million. Profit before tax increased 17% excluding currency movements to €3,311 million. The bank saw strong underlying business performance across all markets, with lending and customer funds up 2% and 7% respectively. Santander continues to improve efficiency, with its cost/income ratio improving to 46.1% from 48.1% during the quarter.