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Santander Could Swallow Sovereign
05/09/08 - 03:30 PM EDT
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With problem loans increasing at an accelerating pace, raising capital at this time is a prudent move. Sovereign suspended its dividend on common shares during the first quarter in another effort to boost capital. The company has also been reducing the size of its balance sheet. Total assets were $81.9 billion as of March 31, down 3.3% from last quarter.
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