Santander said it paid a €224mn windfall tax bill as a controversial levy introduced by the Spanish government cost the country’s largest bank a sum equal to nearly 10 per cent of its first-quarter profits.
The payment left the Spanish bank with net profits that rose just 1 per cent year on year to €2.57bn in the first three months of the year. Rising interest rates boosted its income in Europe but also pushed up loan loss provisions in the US and South America.
The figures were…
Read the full article here
