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…
Fernando González Urbaneja | Santander presented its first quarter results this week. Good in general terms. More business, better margins, growth and the best results without extraordinary items or gimmicks. However, the stock market’s immediate reaction was quite bad, with no explanation beyond a feeling of future problems. And so much because of the bank’s management as because of the general business environment. The feeling, even perception, of a recovery…
Banco Santander obtained an attributable profit of 2.543 billion euros in the first quarter of this year, 58% more than a year earlier, when the bank took a 530 million charge for restructuring costs. Ordinary profit, which excludes that impact, rose 19%, the bank told the Spanish National Securities Market Commission (CNMV) on Tuesday.Santander is confident it will achieve the 2022 targets it announced in February: revenue growth of around…
Banco Santander achieved an attributable profit of €8,124 million in 2021, which compares to an attributable loss of €8,771 billion in 2020, when the bank made a non-cash adjustment to the valuation of goodwill and deferred tax assets (DTAs). The 2021 attributable profit is 25% higher in current euros than in 2019, before covid. Excluding net charges of €530 million for restructuring costs already announced in Q1 2021, underlying profit…
BancaMarch | On Monday, the Spanish bank kicked off its activitiy in the debt market for this year. Specifically, the lender called on the investment community in order to raise 1.350 billion euros in funding for its consumer finance business, Santander Consumer, and its subsidiary in the UK. In the case of Santander Consumer, it issued senior debt with a 5-year maturity at 0.586%, 50 bp over the midswap index,…
T.C. | The group CET1 capital ratio rose 72 bps year-on-year to 12.30%, above its target range of 11-12%. The bank accrued 15 bps of capital for shareholder remuneration, the equivalent of 40% of underlying profit in the quarter. It will accrue 40% of underlying profit throughout the year for shareholder remuneration once authorized by supervisors.
MADRID | July 8, 2015 | Fernando G. Urbaneja | Spanish bank Santander appointed a separate board of directors in Spain, independent from the Group board, which reports to shareholders and regulators. A new federal model that gives the eurozone’s largest lender by market capitalisation a structure in each one of the markets where it operates, in some cases under a local brand.
MADRID | By Fernando G. Urbaneja | Spanish bank Santander is a powerful battleship, the euro zone´s largest by market cap, one of the world’s leaders, with an outstanding presence on both sides of the Atlantic. It is therefore a complicated engine to move, even slowly. The unexpected death of the company´s chairman, Emilio Botín, in September 2014, brought about the accession of his daughter Ana to the bank´s top post. The younger Botín possesses unquestionable professional credentials, but nonetheless has had to allay fears that any change in leadership can bring about.
MADRID | By J.P. Marín Arrese | Only a few hours following the death of former Santander chief Emilio Botín, his daughter Ana Botín was thrust into the spotlight as his replacement. This offered further proof -if it were needed- of the firm grip on the Board of Directors which the family continues to hold. Its stake, reckoned to stand at less than 1%, has not prevented the swift transition from taking place.
MADRID | By Fernando G. Urbaneja | As a child, Emilio Botín used to listen to his father urging the branch directors of Santander bank –back then a local commercial lender- to capture more term deposits. Until his death on Wednesday, Mr Botín was head of Europe’s largest commercial bank, attentive to the evolution of credit lending in each regional branch, as well as in Spain, the United Kingdom, Brazil or Poland. He was a full-time business banker. There were no distractions for Emilio Botín: even when he was hunting in Africa or playing golf he was looking through his business reports; at the weekends he used to meet the executives of Santander at his own place. The bank was his only truly passion.