Wholesale falls but Santander points to LatAm strength

Issue: 1240 - 3 February 2012

A sharp decline in equities and corporate finance revenues contributed to a 17.1% fall in profits in Santander’s wholesale banking franchise in 2011 compared to the year before, the bank reported on Tuesday. But it said its international reach helped it maintain a strong liquidity and capital position — and that its Spanish operations had no need to tap wholesale markets this year. ..