Santander's profits up 10 percent as Brazil offsets UK weakness

Santander's profits up 10 percent as Brazil offsets UK weakness

Chamber Articles Category: Member News Post Date: 04/24/18 Source: Reuters By: Jesús Aguado
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MADRID (Reuters) - Banco Santander’s (SAN.MC) solid performance in its main market Brazil helped the bank produce a slightly better-than-expected 10 percent rise in first-quarter net profit, offsetting weakness in its UK business.

Santander’s Latin American business has allowed the bank to cope with a squeeze on lending margins in Europe that is pressuring its rivals in Spain, such as BBVA (BBVA.MC) and Caixabank (CABK.MC). Read Full Article