Banco Santander posted profit of 6.619 billion euros in 2017, up 7% from a year ago. The profit figure was affected by extraordinary charges totalling 897 million euros.
Santander acquisition Popular
Carax Alphavalue |Santander has made a very strategic move with its recent acquisition of ailing lender Banco Popular, refocusing on its business in Spain as economic growth accelerates. And it’s stock market performance is reflecting this positive story.
Despite the risks which some people have highlighted with regard to Santander’s absorption of Popular, neither analysts nor investors seem to have been spooked by the massive rights issue launched by Santander last Friday. All in all, it seems the acquisition could be described as something of a dream deal.