"The bank's capacity to generate profit enables us to set aside hefty real estate provisions in Spain in 2012 and significantly increase non-performing loan coverage"
- Emilio Botin, chairman of Banco Santander
Moody's Investors Service has assigned A2/Prime-1 debt and deposit ratings of Santander UK Plc. on Friday. While the debt and deposit ratings for the U.K.'s third largest bank remained unchanged, the outlook is negative, reflecting Moody's medium-term view of lower systemic support for large U.K. banks. A day earlier, the bank posted its third quarter earnings, with profit dropping to just 100 million euros ($ 130 million), compared to 1.8 billion euros a year earlier.
"The bank's capacity to generate profit enables us to set aside hefty real estate provisions in Spain in 2012 and significantly increase non-performing loan coverage," bank chairman Emilio Botin said in a statement.
"The continuing economic uncertainties both in the UK and in the euro area are having a dampening effect on activity within firms and households," said BBA statistics director, David Dooks.
The FTSE 100 Index added 0.03 per cent to 5,806.71. The broader FTSE All-Share Index inched lower 0.04 per cent to 3,034.74.
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