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Banco Santander Sees Further Pressure on Spanish Lending Margins

  • The lender boots its capital ratio in the first quarter
  • Profit lower on weaker pound, Latin American currencies
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Banco Santander 1Q Profit Falls on Revenue Decline

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Banco Santander SA expects lending margins to continue shrinking Spain, hurt by negative interest and stalling lending growth.

“Looking forward, we continue to see pressure on net interest income, but good trends in terms of fee income, costs and asset quality,” Chief Financial Officer Jose Antonio Garcia Cantera said on a conference call with analysts.