Spain's Santander said its net profit in the second quarter rose 14% from the same period a year ago boosted by a higher revenues in Europe and the Americas, partly offset by higher provisions in Brazil and the United States.

The euro zone second-biggest lender in terms of market value booked a net profit of 2.35 billion euros up from 2.07 billion euros in the same quarter a year ago.

Analysts polled by Reuters expected Santander to post a net profit of 2.38 billion euros.

"In South America our business continues to grow profitably, generating 33% of our profit from 15% of our lending. North America achieved an adjusted return on equity (ROTE) (measure of profitability), of over 23%, despite the already anticipated normalization in loan-loss provisions," Santander Chairman Ana Botin said in a statement.

Santander's diversification, especially in Latin America, has helped the bank cope with tough conditions for lenders in Europe since the financial crisis, where it has been cutting costs to cope with ultra low interest rates.