April 30, 2019 / 4:57 AM / 3 months ago

Santander Q1 net profit falls 10 pct, hit by Britain

MADRID, April 30 (Reuters) - Santander reported on Tuesday a 10 percent fall in first-quarter net profit from a year earlier as steady growth in business volumes in Latin America failed to offset a weaker performance in Britain.

The euro zone’s biggest bank by market value reported net profit of 1.84 billion euros ($2.06 billion) against forecasts of 1.88 billion euros in a Reuters poll.

Extraordinary charges of 108 million euros in Britain and Poland as part of its ongoing cost cuts in the United Kingdom and Poland also hit the group’s bottom line.

$1 = 0.8191 euros Reporting By Jesús Aguado; Editing by Paul Day

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