MercoPress. South Atlantic News Agency
UK overtakes Brazil as Santander's most profitable market
The UK has become Santander's most profitable market, generating just over a fifth of the bank's profits in the first half of 2015. Pre-tax profits in the UK rose £74m to £928m, while revenues were up 5%. The results eclipsed the €1bn (£700m) posted by the Spanish bank's Brazilian operation, which saw its revenues jump by 9%. Read full article
Comments
Disclaimer & comment rulesoh!
Jul 31st, 2015 - 08:00 am - Link - Report abuse 0How nice, bankers making huge profits while the rest struggling to survive...
Camoron way to prosperity.
For banks of course...
A Spanish bank.... but it's Cameron's fault?
Jul 31st, 2015 - 08:07 am - Link - Report abuse 0Argentinean education at its finest.
@1
Jul 31st, 2015 - 09:52 am - Link - Report abuse 0You might be struggling. Some of us are doing just fine.
Window-licker!
@Skip
Jul 31st, 2015 - 10:02 am - Link - Report abuse 0Of course is his fault who else?
If a Spanish bank make huge profits in UK and sends this capital to Spain or elsewhere as they normaly do while Brits wil suffer a 40% cuts in public service who is to blame????
@ ilsen
“Some of us are doing just fine”
Ok you say it “Some of us” and the rest what???
Oh Dany your Argentinean education is showing.
Jul 31st, 2015 - 10:44 am - Link - Report abuse 0Yes £928 million of the profit was made in the UK but £700 million was made in the smaller economy of Brazil. I mean Brazil is now only 80% the size of the UK. So fitting that the profit there was 75% the size of the UK's.
And all that austerity in the UK at least means it is growing. Yep 2.6% per year. Compare to Brazil which is shrinking..... yep shrinking by 1.6% per year.
Shrinking with 9% inflation and 7% official unemployment. And those poor suffering Brits have to put up with no inflation at all and 5.6% unemployment.
And let's not even get started on interest rates. Those poor Brazilians with less jobs and savings being eroded, why now they have to pay through the nose for their mortgages and loans.
But what's that I hear? The Brazilian government is cutting services and reducing costs? Could that be the sounds of austerity reverberating through the favelas?
Dany I'm sure in your warped, and let's face it, juvenile outlook; that any company or bank that makes a profit is evil and ripping people off. However at last Santander is paying taxes. A lot more taxes than say Aerolineas Argentina which is just hoovering up money that could be actually spent on people that need it.
The UK had a recession. And as part of fixing the imbalances in the system, it had austerity. Compare how well they did that and how much they are now growing to places like Venezeula, Argentina and Brazil. All 3 mired in recession.
@1, 4. People of the UK have money. People in Brazil don't. That's because Dilma and Lulu have stolen it all.
Jul 31st, 2015 - 11:09 am - Link - Report abuse 0@ 4
Jul 31st, 2015 - 12:55 pm - Link - Report abuse 0The rest can learn to look after themselves.
No-one owes you a living.
Foreign banks operating in Brazil are undercapitalized. Moreover, inefficient and largely unknown in the market. I can say safely that Brazil has the most efficient, capitalized and competitive banking system in the world.
Jul 31st, 2015 - 01:56 pm - Link - Report abuse 0http://epocanegocios.globo.com/Informacao/Resultados/noticia/2015/07/lucro-do-bradesco-e-o-terceiro-maior-da-historia-entre-bancos-de-capital-aberto.html
@8. Good at thieving, isn't it? You don't move Petrobras size money without the banks. And now Eletrobras as well! Any more crooked, government-controlled companies you'd like to admit to? We'll find out eventually.
Jul 31st, 2015 - 03:16 pm - Link - Report abuse 0In Uruguay Santander charges usury amounts of interest and employs the tricks that were used by British credit card companies decades ago to ensnare customers into long-term debt.
Jul 31st, 2015 - 05:45 pm - Link - Report abuse 0Trouble is, the Uruguayos have gone from a cash society to an indebted society within the five years that I have watched the finance situation here.
As they say in the song: 'There may be trouble ahead...'
Oh dear.
Jul 31st, 2015 - 10:20 pm - Link - Report abuse 0Does that mean I won't be able to draw my pension tommorow from the wicked bankers?
Erm, no!
Business as usual!
WTF is the point of this story?
Santander is a succesful bank?
*2 Yes a Spanish Bank!!
Aug 01st, 2015 - 01:09 pm - Link - Report abuse 0* 4 tell that to the 20,000 + employees who are employed by Santander in the UK
and take home a wage to support their families......
12 Spanish sunshine
Aug 03rd, 2015 - 07:03 am - Link - Report abuse 0So what's your point, moron?
What are the ramifications?
How fucking significant is Sarkander - 20k?
How many Spanisrds have British employers??
How many wouldn't stand a chance in hell of a job, without them?
You haven't changed, you're an idiot.
Are you Marcos??
@TD
Aug 03rd, 2015 - 01:28 pm - Link - Report abuse 0Oh! poor Troy Dumbest seems he doesn't know the Spanish predator trick “Me llevo toda la pasta p' Madriz ole” ...
The pain from Spain: The British giants that were stripped of value on grand scale under Spanish ownership
http://www.thisismoney.co.uk/money/markets/article-2992381/More-pain-gain-British-giants-stripped-value-grand-scale-Spanish-ownership.html
Who rules Britain now??? foreigner perhaps???
Strict new bank rules will push up mortgage rates, warns Lloyds boss Antonio Horta-Osorio
http://www.thisismoney.co.uk/money/markets/article-2992381/More-pain-gain-British-giants-stripped-value-grand-scale-Spanish-ownership.html
http://www.thisismoney.co.uk/money/markets/article-2992381/More-pain-gain-British-giants-stripped-value-grand-scale-Spanish-ownership.html
And the idiots want to lecture Argentina about economy matters....
14 Dany Folies Bergére
Aug 03rd, 2015 - 03:36 pm - Link - Report abuse 0Do you not understand global economics or trade?
This must be your Argentine brainwashing- it is actually not immoral, illegal, or unexpected for foreign businesses to invest and operate to make a profit.
I understand that the Argentines have been taught to think of this as “speculation” and stealing.
No business would invest or set up anywhere, if they were told it was illegal to make profits or remove profits from that country.
Why are industries pulling out of Venzla and Arg?
Moron
@Troy Tempest
Aug 03rd, 2015 - 08:18 pm - Link - Report abuse 0Who said that investing in a foreign country and make profit is immoral or illegal???
What I'm saying is that “Asset stripping” is wrong what is another thing.
Old technique used by Carl Icahn who in 1985 took over TWA
How the “Ole stripping trick” works...
A Spanish group takes ove a stablished company
What really counts for them is cash flow and assets that could be sold.
They pay for it by issuing debt in the market and not with their money.
They took over part of the cash flow to pay the debt and dividends and when not enough uses the company assets.
If you even bother to read that article you could see how the UK O2 company was bought by Telefonica in 18bn and now the value shrunk to 10bn
which they are planning to sale to a Honk kong Group.
As the company does not receive any investment and even has to operate short of cash more debt is issued, services quality decline, customers
complain because cannot receive calls, fee rise, suppliers are delayed to get their payments, dealers are stripped form their margin profit,
etc. etc.
The unique item they keep well founded is marketing because provide sales and cash flow.
Until the inevitable, company get so bad that cannot afford to pay salaries and that is when is too late.
The corporate raider in this case Telefonica by doing that repays it's debt and get a huge profit while the company ends in a financial ruin.
Is something of that happening with O2 for example?
Do you have duplicate calls to same numbers? billed by service you never asked for? are you charge by Iternet service and never works?
Calling to O2 custom service and complain about your poor signal in UK, and they tell you to go outside and make a parabolic with your arms to see if you are so lucky to get some. ha ha
O2 criticised for payment terms as it will not pay suppliers for six months
http://www.thisismoney.co.uk/money/news/article-2248619/O2-criticised-payment-terms-pay-suppliers-months.html
Dany,
Aug 04th, 2015 - 04:14 am - Link - Report abuse 0Are you telling us that what the Spaniards are doing is unethical ?? That's what it sounds like to me.
@Troy Tempest
Aug 04th, 2015 - 07:58 am - Link - Report abuse 0Do you have any missundertanding problem or what?
What part of is robbery you don't undertand???
If someone takes a company by issuing debt and then strip the assets of the company to pay for the debt and get more loans for the company and in the end the comany remains with a financial hold of 500m like the American Carl Icahn done with TWA, etc.
How do you call that?
For me is a fraud, if for you it is just unethical... oh!,oh! oh!
Well to be honest and not discriminatory with the “Gallegos” everyone do that when they can, or you believe that to manipulate Libor interest rate to boost profit in England is not a scam???
Do yo want to know how the “banquito” scam works or the “banquito black” hole works???....
Here an example...
http://www.independent.co.uk/news/uk/politics/rbs-drove-businesses-to-collapse-before-stripping-their-assets-8960879.html
Dany,
Aug 04th, 2015 - 08:57 pm - Link - Report abuse 0I get it - you hate the British, because they are British.
- you gloat about the Spanish “robberies” from the British.
- I don't know what your point is, but in your determination to be 'right' or 'ethnically superior'(?) - you are pointing out how unethical your culturally-aligned hermanos are.
It baffles me that you would make such an admission - you must be a bit weak in the head.
@Troy Tempest
Aug 05th, 2015 - 12:54 am - Link - Report abuse 0“you hate the British, because they are British”
Nope, I just don't like hypocrites, liars and thieves epecially those who like to point finger to others.
“unethical your culturally-aligned hermanos”
Spanish are not my hermanos why they should be?
I only have 1 hermano and that's all.
“culturally-aligned”
What that means?
I guess you don't know the real history of the British Islands...
Lets me elighten you the first inhabitans of the GB Islands of celtic origen where from the continent (Northen Spain) from Galicia (Gaelic culture).
GB was a province or the Roman Empire for near 500 years or smoeting laike that. Guess from where were the Roman legions that took over Britain???
Yeap Spain, The legion of II Augusta and IX Hispana both based in what is today known as Spain.
From that comes the first Romano-Britones (British) and all British culture and first infrastruture in the Islands, trade, cities, etc, etc.
Londinium was the orginal name of what is today London, etc, etc,
So you have more Spanish hermanos than the Argentinieans.
Dany,
Aug 05th, 2015 - 07:01 am - Link - Report abuse 0“So you have more Spanish hermanos than the Argentinieans.”
You are wasting everyone's time...
I don't think so...
Aug 05th, 2015 - 08:24 am - Link - Report abuse 0I just teaching you where you came from lets say Spain, Portugal, Italy and Africa Bro!
Do you know that you got a governor from Africa in GB???
Sure you don't because education, history, books and so on is not what you are best at. right?
Well allow me to introduce him to you...
His name was “Lollius Urbicus, Quintus” better known among his friends as “Lollius Africanus”.
From Oxford university
”Lollius Urbicus, Quintus (b. after 100?, d. after 150), Roman governor of Britain, was born near Cirta in the province of Numidia (eastern Algeria), in north Africa..”
http://www.oxforddnb.com/view/article/48293
Do you undertand now why Africans want to go back to motherland GB crossing through Callais???
Because they got better education than you by reading books from Oxford University so they know where they came from while you don't.
And yet after all that it is British culture, legal traditions and language that conquered the world not anyone else's. Unlike Spain and France, England didn't even end up with bastardised Latin for its language.
Aug 09th, 2015 - 09:24 am - Link - Report abuse 0The English parliamentary system and democracy, English common law and just plain old English the language are what inflicted the world.
Wasn't Spain.
Wasn't Africa
Wasn't Rome.
And considering the inventiveness of Britain, seems all the intelligent hermanos moved there and left their idiot cousins to create modern Spain.
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