Banco Rio de la Plata, a unit of Spain's Grupo Santander, said its net income declined in the fourth quarter by 66.6%, to $9.6 million.

It attributed the decrease to $22.5 million in one-time charges for funding costs, restructurings, accounting policies, and year-2000 expenses.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.