MADRID (AP) - Spain's Banco Santander SA says net profit for the second quarter jumped to 1.1 billion euros ($1.45 billion) from 123 million euros for the same period last year thanks chiefly to lower provisions for bad real estate loans.

MADRID (AP) Spain's Banco Santander SA says net profit for the second quarter jumped to 1.1 billion euros ($1.45 billion) from 123 million euros for the same period last year thanks chiefly to lower provisions for bad real estate loans.

Santander, like many Spanish banks, had to write off huge amounts from the value of loans following the 2008 collapse of Spain's property market.

The largest bank in the eurozone by market value said, however, the ratio of non-performing loans to its overall portfolio rose slightly, to 5.18 percent from 4.76 percent in March.

Santander's shares were down 0.1 percent at 5.45 euros in Madrid trading on Tuesday.

Net profit for the first six months of the year was 2.26 billion euros, up 29 percent on the same period in 2012.