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| Date |
25/07/2000 |
| Companies
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BANCO SANTANDER CENTRAL HISPANO - |
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BSCH net +29% first half |
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Banco Santander Central Hispano recorded a 29% increase in net profits to E1.03bn (E802m) in the first half. Despite the considerable gain there were some concerns relating opt the underlying European business. The South American business showed a E200m increase in profits to E467m, in addition there were E345m industrial investment gains, apparently mainly due to its backing of Royal Bank of Scotland in the NatWest bidding. On the other hand the apparent fall in European banking profitability was strongly influenced by adverse foreign exchange rates which turned a fall of 2.9% in expenses in local currency into a 10.7% increase.
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