Santander latest bank to set asside PPI fund with Euros 620m hit
Santander today revealed a net profit of Euro 3.501 bn (down 21%), after setting up an extraordinary fund of Euros 620m in the UK to cover potential claims for payment protection insurance sold in the UK.
In the United Kingdom attributable profit stood at Euro 346m which would have resulted in an increase of 17% without the creation of the Euro 620m fund and excluding local regulatory changes.
Excludin
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