BRIEF-Santander Sees Cost Of Risk Around 80 BPS Year End, Will Release Provisions in Q4
Oct 27 (Reuters) - Chief Executive Officer Of Spain's Santander, Jose Antonio Alvarez:
* EXPECTS COST OF RISK TO HOVER AROUND 80 BASIS POINTS BY END OF 2021 FROM CURRENTLY 90 BPS
* "I WOULD LIKE TO REMIND YOU THAT THE MAJORITY OF THE OVERLAY PROVISIONS RECORDED LAST YEAR STAY ON THE BALANCE SHEET, AND WE EXPECT TO MAKE SOME RELEASES IN THE FOURTH QUARTER ON THE BACK OF THE NEW MACROECONOMIC SCENARIO," ALVAREZ TOLD ANALYSTS.
Source text for Eikon: Further company coverage: (Reporting By Madrid Newsroom)
