Santander profits dive by 35pc

 
City A.M. Reporter
Spain's Santander reported on Tuesday 2011 net profit of 5.35bn euros (£4.4bn), down 35 per cent after the group took extra provisions against toxic real estate assets in Spain.

Recurring net profit was 7.02bn euros, 14 per cent less than in 2010 and in line with analysts' expectations.