Santander lowers end-2014 Basel III "fully-loaded" forecast
MADRID Nov 4 (Reuters) - Santander will end 2014 with a core capital ratio of between 8.5 percent to 8.6 percent under Basel III "fully-loaded" criteria, Chief Executive Javier Marin said on Tuesday, below previous guidance of "around 9 percent."
"(This is) below our initial projection ... due to the materialisation of some corporate operations," Marin told analysts on a conference call.
He added these events included the acquisition of card payment processor GetNet Tecnologia SA in Brazil, operations in the United States and the purchase of GE Capital's consumer finance business in Sweden, Denmark and Norway. (Reporting by Sarah White, Editing by Paul Day)
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