(WebFG News) - Banco Santander started off the banking sector's results in Spain, with a strong profit of 2.05bn up 10% undermined by a 23% decline in earnings from the UK business.
The Bank of England has received initial stress testing submissions from the seven largest UK banks and confirmed it will be publish results on 28 November.
Spain's largest lender posted better-than-expected quarterly profits thanks to a strong performance in almost all regions - especially in Brazil, UK and Spain - and a drop in its non-performing loan ratio.
Strategists at Credit Suisse cautioned clients not to be lured into buying Mexican equities, even as they reduced their 'Underweight' position, citing eight reasons why recent strength in the MSCI Mexico index on the back of strength in the country´s currency, the peso, might be potentially misleading.
A leaked report from the Spanish government has detailed how the country could lose up to 1bn in exports as a result of Britain's departure from the European Union, according to a leaked report from the central government in Madrid.
Spain's largest bank, Banco Santander, kicked off the country's earnings season on Wednesday by reporting a 4% increase in annual profit, despite lower profit through its operations in Britain.
The Bank of England will subject Barclays, HSBC, Lloyds, Nationwide, Royal Bank of Scotland, Santander and Standard Chartered to a two-part stress test in 2017.
Santander, Royal Bank of Scotland and its two subsidiaries Natwest and Ulster Bank have all weighed in behind Google's new contactless payment system, four months after the app's launch.
Santander UK is reportedly considering a takeover of Bank of America's UK credit card group MBNA.
Major retail lender Santander UK set off a warning flare over Brexit on Tuesday, when in releasing its half-year figures it said the June vote to leave the European Union "marked the end" of the recent relative stability in the UK banking sector.
US stocks strode higher for the second successive day on Wednesday as the initial panic of Brexit eased and investors sought bargains, while there was mostly top grades for banks in the Federal Reserve's stress-test results after the market closed.
Britain´s fifth largest lender was set to cut the number of senior staff in Britain in a bid to costs and bolster profit its profits margins, The Sunday Times reported.
Santander's executive chairman Ana Botin has been snapping up shares in a bid to show confidence in the bank.
Britain's largest lenders are preparing to set aside billions of more pounds for provisions against the payment protection insurance mis-selling scandal, according to reports over the weekend.
These were the movements in the most widely followed 10-year sovereign bond yields:
Santander UK reported a 6% jump in third-quarter pre-tax profit as the bank continued to gain new customers.
Proposals by the Bank of England would require the UK's big banks to hold up to £3.3bn of capital under new ring-fencing rules designed to make their retail operations more resilient to potential market crashes.
Specialist lending and savings bank Shawbrook has appointed Steve Pateman as its new chief executive officer with effect from 1 January 2016 subject to regulatory approval.
AB Inbev could table a £70bn bid for SAB Miller this week, firing the starting gun on the biggest-ever takeover of a British company. Over recent days the world's two biggest brewers have begun "friendly" talks, sources said. The discussions continued into yesterday, with Budweiser owner AB InBev expected to make a firm opening offer within days - possibly tomorrow morning.London-listed SAB, the maker of Peroni and Grolsch, is understood to be playing hardball with its Belgian rival over price, but is not unreceptive to a deal. - The Sunday Times
Embattled Spanish renewable energies outfit Abengoa's chairman, Felipe Benjumea, announced he would be stepping down after 25 years at the helm as the company revealed plans to go cap in hand to investors.