07:39 AM EST, 03/05/2025 (MT Newswires) -- Banco Santander's (SAN) US investment banking operations more than doubled profit in 2024 after large investments in the business, Bloomberg News reported Wednesday, citing a company representative.

Santander has focused on its US investment banking operations for several years and has hired some executives from the collapsed Credit Suisse, the report said.

"The business is well on track to meet its return on equity target for 2025," Bloomberg reported the official as saying.

Santander did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)