Banco Espanol de Credito (Banesto), said that it has recorded 95 per cent fall in its net profit for fourth quarter previous fiscal.

Banesto, Spain's fourth-biggest bank by market capitalization and managed by global giant Banco Santander, posted a net profit of only EUR6.2 million in the last three months of 2009, which is nowhere near to the net profit of EUR126 million in 2008. However, analysts had estimated EUR12.5 million net profits.