Banco Santander’s 98% Drop In Earnings
Banco Santander said its earnings fell 98% in the fourth quarter. It will reserve $1.4 billion for bad real estate loans. The collapse of the Spanish real estate markets is at the heart of its trouble. With a glut of…
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Banco Santander said its earnings fell 98% in the fourth quarter. It will reserve $1.4 billion for bad real estate loans. The collapse of the Spanish real estate markets is at the heart of its trouble. With a glut of property and an unemployment rate of 22%, it is hard to imagine how the bank’s problems will improve.
Bank Santander has been mentioned as a possible bailout target, but it is almost impossible to see how the troubled Spanish government can do that
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