Banco Santander (STD) FY11 Net Income Drops 36% to EUR 60c/Share on Spanish Real Estate Charges
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Banco Santander, S.A. (NYSE: STD) reports FY11 EPS of about €0.60, versus €0.94 reported for the same period a year ago. Revenue for the quarter was €44.26 billion, compared to €42.05 billion in FY10.
Charges include pretax provisions of €1.812 billion for real estate exposure in Spain, raising coverage of on-balance properties from 31% to 50%.
Charges include pretax provisions of €1.812 billion for real estate exposure in Spain, raising coverage of on-balance properties from 31% to 50%.
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