UPDATE 2-Santander profit jumps on economic revival in Spain, Britain

jueves 31 de julio de 2014 07:45 GYT

* Santander Q2 profit up 38 pct to 1.45 bln euros

* Net interest income flat from a year ago

* UK, Spain drive recovery in earnings

* Falling provisions also boost bank

* Santander shares fall as Argentina weighs (Adds CEO comment on outlook, shares, analyst comment)

By Sarah White and Jesús Aguado

MADRID, July 31 (Reuters) - Santander's second-quarter profits jumped by 38 percent thanks partly to an economic rebound in major markets Spain and Britain and the bank said it was on course for sustained profit growth.

Santander, the euro zone's biggest bank by market value, had been relying heavily on its Latin America businesses to make up for problems in Spain during the country's property market crash and economic downturn, which hit earnings.

With the Spanish and British economies strengthening, that earnings pattern is shifting. Santander's British business made up 20 percent of profits in the second-quarter, overtaking Brazil as the top contributor.   Continuación...