Santander first-quarter profit slumps on higher virus-related provisions

MADRID (Reuters) - Spain's Santander posted an 82% year-on-year slump in quarterly net profit on Tuesday as it booked higher provisions for expected credit losses from the coronavirus outbreak.The euro zone's second-largest bank by market value reported a profit of 331 million euros ($358.11 million) for the first quarter ended in March.Overall loan-loss provisions rose 80% after the bank set aside 1.6 billion euros to offset the impact from COVID-19 based on the expected deterioration of the..