Wholesale banking holds up at Santander
Santander’s investment banking numbers were resilient in the second quarter, despite increased provisioning requirements for real estate loans slashing the group’s attributable profit to just €100m.
Global wholesale banking, which comprises corporate and investment banking and markets, reported pre-tax profits of €650m in the second quarter. That was down slightly from €664m for the same period in 2011.
The division reported pre-tax profits of €1.566bn for the first half, down 1.9% year on year.
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