Jan
27
Santander’s 4th-Quarter Profit Hit by $1.8 Billion in Charges
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A Banco Santander branch in Madrid. For the three months ended Dec. 31, the lender reported a profit of 25 million euros, down from €1.46 billion in the period a year earlier. CreditAndrea Comas/Reuters
LONDON — Banco Santander of Spain said on Wednesday that its fourth-quarter profit was dragged down by one-time charges of 1.7 billion euros, or about $1.8 billion, including provisions to compensate consumers who were improperly sold a controversial insurance product in Britain.
For the three months ended Dec. 31, Santander reported a profit of €25 million, down from €1.46 billion in the prior-year period…
Santander’s 4th-Quarter Profit Hit by $1.8 Billion in Charges
