The third point is capital. The third in the quarter, we combined the effort in provisioning with the solid capital ratios. BIS II core capital ratio was 10.1%, and we exceeded the ratio of 9% required by the EBA for June, while our forecast lead us to think that we will be above the various possible requirement for the end of the year. And this capital strength is not just at group level, it is also seen in the various units and, most clearly, in those units operating in countries where their banks needed state aid.As we see in this slide and the next one, none of the group's units have a capital shortfall. Starting in the U.K., whose banking system has needed significant injections of capital, Santander U.K. not only needed no aid, but participated in the systems restructuring, acquiring banks with problems, which enabled it to improve its market position, and with a core capital of more than 12%.
Banco Santander, S.A. Management Discusses Q2 2012 Results - Earnings Call Transcript
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