Santander Slips as It Sees Capital Pressure From Regulations
- Europe slowdown driven by deep drop in U.K. as Brazil thrives
- Net income 75% lower as lender takes goodwill charge on U.K.
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Banco Santander SA declined in Madrid trading after the Spanish bank indicated that its capital levels will come under pressure from regulation.
Rule changes have had a particularly heavy impact on the bank’s 2019 performance, with more limited negative effects to come in 2020, Chief Executive Officer Jose Antonio Alvarez said on a call following the bank’s third-quarter results. The stock was down 4.3% after an ex-dividend adjustment as of 1:23 p.m., extending losses from earlier.