Santander UK profits slip on weak pound – BBC News

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Santander has warned of a challenging year ahead in the UK after its profits in 2016 dived following the EU referendum.

Earnings in Britain fell by almost 15%, largely because of the weakening of the pound against the euro following the Brexit vote in June.

The introduction of an 8% bank corporation tax surcharge also hit UK earnings, it said.

However, its global profits rose by 4% after a strong performance in Brazil.

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