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Santander Q3 Profit Rises Despite Brazil Weakness

Santander reported a 19 percent increase in third-quarter underlying net profit to 3.85 billion euros, boosted by gains in Britain and the US. However, rising provisions and weaker earnings in Brazil pressured the lenders shares.

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The logo of Spanish bank Santander is seen outside a building in Madrid October 27, 2011.

BANCO SANTANDER SA posted a 19% rise in underlying third-quarter profit to €3.85 billion ($4.28 billion), beating analysts' expectations of €3.75 billion.