Santander


Santander and BBVA best positioned for cut in ECB deposit rate

Bankinter analysis team believes that the cut in the deposit rate to -0.50% (from -0.4%) further penalises keeping excess liquidity in the ECB. Tiering (or the method of charging in tranches) only partially mitigates the impact with a volume of up to six times the coefficient of obligatory reserves (currently 1.0%) exempt. This favours banks with higher and more internationally diversified ratios of credit investment/typical resources like Banco Santander and BBVA.



Banco Santander

Santander attributed net profit falls by -10% to € 1.840bn in 1Q19

Banco Santander revealed its 1Q19 numbers. Intermediation margin (NII or margin of interest) € 8.68 + 3% yoy <€ 8.75 bn € e cons. Attributed net profit is 1.84 bn € -10.41% yoy against the 1.83 bn € estimated by the consensus, after a net charge of € 108 M for restructuring costs in the United Kingdom and Poland and assets sale. Ordinary profit has grown in seven of its ten main markets.



Banco Santander

Santander: excessive digital focus, tied to domestic market

Alphavalue | During the last decade, Banco Santander has successfully diversified constructing a portfolio of low risk/high growth activities. Although it should guarantee the longevity of the group, it has not translated into profits for smaller shareholders.

 





Banco Santander

Santander records €1.566 Bn on its balance sheet related to its 49% stake in joint venture with Blackstone

Private equity fund Blackstone and Banco Santander have injected 300 million euros in the property fund in which both have a stake. The alliance is a mix of societies under the umbrella of parent company Project Quasar Investments 2017, which includes what was previously Banco Popular’s real estate portfolio. Its gross assets are valued at 30 billion euros, with a net value of 10 billion.