Santander saves 1.6 billion euros in capital after scrapping final 2019 dividend
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MADRID (Reuters) - Santander saved 1.6 billion euros ($1.7 billion) by scrapping its final 2019 dividend, allowing it to offer 30 billion euros more in loans to households to mitigate the impact of the coronavirus outbreak, chairman Ana Botin told investors on Friday.The European Central Bank had already told lenders to skip dividend payments and share buybacks until October at the earliest and use profits to support an economy hamstrung by restrictions on movement implemented to stop the..