Jan 30, 2019
Santander UK bank profits hit by uncertainty
Profits at the UK arm of Santander fell last year after what the High Street bank described as an "Uncertain operating environment". The UK bank, which is part of Spanish giant Santander, said its preparations for Brexit were "Comprehensive". "While uncertainty around Brexit remains we are preparing for a number of outcomes in order to minimise the impact on our customers and our business," the bank said in a statement. Full-year profits of the entire bank were up 18% at €7.8bn. Santander's operations in Brazil were the biggest contributor, generating around a quarter for the profits. Last year, the bank recruited the head of investment banking at UBS, Andrea Orcell, to be its next chief executive.
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