Banco Santander net profit up 24% in H1’2015

Spain’s biggest bank released its 2Q2015 results on Thursday, showing a 24% rise in net attributable profit to EUR 3.426 billion in the first half  from a year earlier. All of Santander’s ten core markets posted an increase in profits, with the three largest, Spain,  the United Kingdom and Brazil, registering particularly significant rises.

Santander US holding

Santander share price returns to €7 territory

MADRID | April 8, 2015 | By Fernando G. UrbanejaEarlier this year, Santander announced a capital increase of €7 billion through an accelerated book building offer to institutional investors at a 12% discount on the traded share price, which was between €6-€7. Within hours, the new shares were sold and existing shareholders were left as bystanders once they had authorised the board to waive their preferential subscription rights.

Santander US holding

Analysis: Fed delivers a scathing blow to Santander bank

MADRID | March 13, 2015 | By JP Marín ArreseThe quantitative test conducted under the Dodd-Frank Act showed a comfortable capital cushion for all eligible banks. Yet both Santander and Deustche Bank subsidiaries blatantly failed the qualitative review undertaken by the Fed under the Comprehensive Capital Analysis and Review (CCAR). In short, the banking supervisor considered their capital plans and risk management to be utterly inconsistent. It has delivered a damaging blow that should prompt swift action to redress such an appalling outcome. Santander has already announced a major overhaul in its US banking arm, but the Group as a whole badly needs to address its failures. 

No Picture

Santander’s bold move

MADRID | By J.P. Marín Arrese | Santander´s management has provided little explanation for the huge 10% capital increase launched last week. The official announcement vaguely notes the need to seize new opportunities when economic prospects are improving. Can we bet on such a promising outlook when so many uncertainties prevail in Europe? It doesn’t seem very convincing. Rumours on potential take-overs also seem rather odd, as raising cash before entering a bid will only serve to increase the final bill. It makes more sense to gauge this move as a means aimed at buttressing the bank´s own funds.

No Picture

Santander to reinforce solvency with capital increase of €7bn

MADRID | The Corner | The stock listing of Santander, Spain and the euro zone´s largest bank was provisionally suspended on Thursday ahead of the imminent approval of a capital increase of €7Bn. When trading was suspended, shares were priced at €6.85, a rebound of 3.31%.

Ana Botín replaces Santander’s CEO after only 2 years in the job

MADRID | The Corner | Banco Santander CEO Javier Marín will leave eurozone’s largest lender after only two years in the role. Ana Botín, in charge of the bank after her father Emilio Botín died in September, announced Marín’s replacement by  Jose Antonio Álvarez, who has spent the past decade as CFO. Ana Botín also made several changes to its board of directors. Shares in Santander rose 1.8% to 7.22 euros in Madrid following the announcement.

Ana Patricia Botin appointed Santander’s new chairman

MADRID | The Corner | Everything went by the book: after Spain’s largest bank Santander chairman Emilio Botin died on Wednesday, his daughter Ana Patricia Botín (53) was appointed to succeed him. Her long career in finance, closely supervised by his father, took her to the UK, where Santander bank gets 20% of its profits (Spain accounts for 14%). Britain’s third most powerful woman according to the BBC has now become Spain’s most influential in finance.