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Spain’s Santander Bank lost more than €2 million in Novo Banco bond dump

As the repercussions of the Bank of Portugal’s Novo Banco ‘bond dump’ continue to resound round the financial system, Sábado has revealed that no less than six investment funds run by Santander have been jettisoned into ‘bad bank BES’, at a cost of “more than €2 million”. The damages take the shine off Santander’s latest ‘bargain-basement purchase’ of what remained of Banif Bank for €150 million.