Santander UK chief blames regulation for profits warning

After an investor presentation in London, analysts believe the bank is likely to lose out on £750m of profits over the next three years. This three-year shortfall compares with a 2010 profit at the UK arm of £1.5bn, the Telegraph reports. Botín, who has led the business since last December, said returns were likely to fall in 2012 and 2013 as she committed to invest almost £500m to improve the bank's customer service levels. She warned Santander UK, which has delayed plans to list its shares on the London Stock Exchange, would be forced to contend with "a combination of strong headwi...