Banco Santander reported group earnings results for the fourth quarter and full year ended 31 December 2016. For the quarter, the company generated EUR 1,598 million in attributable profit, compared to EUR 25 million a year ago, which was impacted by a number of one off items including an impairment of intangible assets and a charge for PPI in the U.K. For the quarter ended 31 December 2016, net interest income increased 2.6% to EUR 8.09 billion from EUR 7.88 billion a year ago. Net fee income was up by 7.7% to EUR 2.63 billion from EUR 2.45 billion in the prior year. Net operating income was EUR 5.66 billion, a 3.4% rise from EUR 5.47 billion in the previous year. For the year, the company reported attributable profit to the group of EUR 6.20 billion, compared to EUR 5.97 billion, previous year. Earnings per share were EUR 0.41 compared to EUR 0.40. The attributable profit increased 4% compared to 2015, with strong growth in fee income and improvements in credit quality, partially offset by the weakening of certain currencies against the euro and an increase in tax in both Poland and UK. Excluding one-off items and currency movements, underlying profit before tax increased by 12%. Underlying earnings per share were EUR 0.43 compared to EUR 0.44. Net interest income decreased 3.4% to EUR 31.09 billion from EUR 32.19 billion. Net fee income was EUR 10.18 billion compared to EUR 10.03 billion. Net operating income was EUR 22.77 billion compared to EUR 23.70 billion.