Santander shifts Colombian business

Banking giant Santander has sold its Colombian business as it works to fulfil tough new obligations imposed by the Spanish government on the financial sector.

Banking giant Santander has sold its Colombian business as it works to fulfil tough new obligations imposed by the Spanish government on the financial sector.

As its banks creak under the weight of bad loans handed out during the country's massive property boom, the Spanish government has demanded the industry puts €84bn aside to cover bad debts.

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