Santander UK profits slip on weak pound – BBC News

Image copyright Getty Images

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.

Read more: http://www.bbc.co.uk/news/business-38742009

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s