santander UK goodwill

Banco Santander office

Santander: 1.5bn hit to UK operation, without visible impact in the accounts

Bankinter | Santander UK has completed a revision of its  UK operation, with a cut of 1.5 Bn€. This writedown is due to a deterioration in business perspectives (generation of future incomes) as a consequence of the severe regulatory environment and uncertainty about Brexit, which obliges it duplicate certain functions and, therefore, raise costs and reduce the expectations for the generation of profits.