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Santander Bank turns to Latin America as European profits slip

Santander bank profit fell 84% in Argentina, after inflation-adjustment expenses, but that was almost an anomaly in the Americas, with the bank confirming it will boost investment in Latin American businesses to offset a weak economy in Europe Banco Santander SA relied on its increasing commitment to fast-growing Latin American markets to make up for sluggish European units that weighed on first-quarter profit. Net income fell 10 percent, hit by a charge of 108 million euros (US$121 million) for restructuring…

For Santander bank, “Brazil is the most important country in the world”

Banco Santander comes to buy. Sometimes we sell off something, but in Brazil we come to buy,” Botin told reporters before being received by President Dilma Rousseff, putting down rumours doing the rounds in the financial market that he might sell part of the Bradesco bank. “Brazil, for Santander, is the most important country in the world,” Botin said, adding that he was confident the Brazilian economy will bounce back. The banker announced investments of 3 billion Reais (some 1.5 billion dollars) in…
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