The Trader 

Market Outlook: Spain’s biggest bank struggles

The Trader

Based on data released this morning Spain’s Santander (also known in amusing UK adverts as the Bank of Antandec) saw second quarter net earnings slump 18 per cent to €1.4 billion from €1.7 billion in Q2 2018. Though net interest income rose 5.6 per cent and non-performing loans shrank again, the bank was hit by a one-off €708 million charge for restructuring costs in Spain linked to the integration of failing Banco Popular. Business conditions in Britain continued to be a challenge for the bank though operations in Brazil and the US were humming along nicely.

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