Norges Bank Unveils A 3% Stake In Banco Santander


Norges Bank, the Norwegian bank in charge of managing the country’s sovereign wealth fund, has revealed a 3.006% stake in Banco Santander, a percentage it controls directly. This is according to the notification it sent Thursday to the National Securities Market Commission (CNMV). Norges Bank’s stake in Santander consists of direct control of 513.4 million shares which, at Thursday’s closing price of EUR 2.69 per share, implies a total value of EUR 1.381 billion.

In addition to Norges Bank, BlackRock with 5.426% and Amundi with 3.007% are the other significant shareholders of the Spanish lender. The participation of significant global investment funds in the bank chaired by Ana Botín indicates the investment interest in it, according to the analysts consulted.

The transaction took place on 29 April, although it was only today that the CNMV was notified. It is worth noting that Santander’s shares have been trading below three euros per share since 26 April. In Thursday’s session, the bank has lost 2.98%.

On 26 April, Santander announced a net profit of 2.543 billion euros between January and March, 58% more than in the same period of the previous year and above analysts’ consensus.

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