Spain's Banco Santander said that net profit for the first quarter fell 26% compared with the same time a year earlier.
It said this was due to slower economic growth in Brazil and Britain as well as a recession at home.
The biggest bank by market value in the euro zone said today that it made a net profit of €1.21 billion, down from the €1.63 billion a year earlier.
It said gross income for the first three months was €10.29 billion, down 8.8% from the €11.29 billion in 2012.
Its non-performing loan ratio in the first quarter was 4.76%, up from 3.98% the same time last year.
