Santander forecasts tougher times ahead as lowers profit goal
Banco Santander (SAN.MC) gave investors a sobering assessment of its prospects in Britain and Spain on Friday, with a warning that it would be less profitable than expected in the years ahead knocking the Spanish bank's shares.
Santander, the eurozone's biggest lender by market value, joined other banks in warning that low interest rates, Britain's decision to leave the European Union and higher regulatory and tax pressure were weighing on its business projections.
As a result the bank cut its profitability target for 2018 and its expectations for growth in its key markets. However, it said... read more
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