UPDATE 2-Santander hit by UK mis-selling charge and Brazil slowdown

miércoles 27 de enero de 2016 07:52 GYT
 

* Q4 net profit down 98 pct at 25 mln euros

* Profit dented by PPI charge in Britain and other provisions

* Capital ratio hits 10 pct target

* Shares down 1.2 pct (Adds detail, Botin quote, analysts, shares)

By Sarah White and Jesús Aguado

MADRID, Jan 27 (Reuters) - Spanish bank Santander posted a sharp fall in fourth-quarter net profit on Wednesday, hit by a mis-selling compensation bill in Britain and slowing income in Brazil, two of its most important markets.

The bank, which has long been under scrutiny over its capital ratios, showed progress on this front, however, with ratios under the strictest criteria nudging up to more than 10 percent, meeting Santander's targets.

Santander shares were down 1.2 percent at 3.94 euros by 1103GMT. The stock has lost a little more than 34 percent in the past year, against a fall of close to 16 percent for the European banking sector.

The euro zone's largest lender by market value posted recurring group profit that was stable compared with the same period a year earlier, coming in at a slightly worse than expected 1.46 billion euros ($1.6 billion).   Continuación...