Santander profits plunge by 94%

The owner of banking giant Santander saw profits plunge by 94% in the third quarter as its UK arm also suffered amid pressure on profit margins.

Spanish parent company Banco Santander said net profits slumped to 100 million euro (£81 million) from 1.8 billion euro (£1.5 billion) a year earlier after taking a hit on property losses in Spain.

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