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Serco has also increased provisions for a number of UK contracts by £150m-£200m, afterunningng into trouble in several areas.
Commerzbank also increased provisions for bad loans and raised reserves by 800 million euros ($749.12 million) as it reorganizes to increase earnings.
Santander, based in Madrid, said it had increased provisions for nonperforming loans by 51 percent, to 3.1 billion euros, to offset an increase of loan defaults throughout its operations.
Brazil's largest bank in the private sector, Bradesco, made a profit of 2.02 billion reais ($573 million) in 2002, a decline of 6.8percentt from the previous year, because of a slowing credit market and increased provisions for bad debt and a depreciating real.
The Swiss-Swedish industrial group ABB rattled investors today by saying it expected to post a loss for 2001 because of increased provisions for asbestos lawsuits in the United States.
E*Trade said its 2007 earnings would be 31percentt below its previously issued forecast as a result of increased provisions for loan losses and potential declines in the value of some securities.
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Lloyds Banking Group has posted a half-year loss of £439m and has increased provision for payment protection insurance (PPI) claims by £700m.
Lloyds Banking Group lost 2.16p to 74.25p as it followed Barclays' lead by increasing provisions for mis-selling payment protection insurance.
Lloyds Banking Group has dipped 1.7p to 74.71p as it followed Barclays' lead by increasing provisions for mis-selling payment protection insurance.
The best way for Santander to distance itself from its home market, other than buy businesses abroad, is to increase provisions for losses related to property.
In the coming years, he added, the company will have to increase provisions for the cost of shutting down and dismantling its four nuclear plants in Germany.
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