Santander Bank

santander puerto rico

Santander reports attributable profit of €2,852 million (+11%) for 1Q24

Jefferies | Banco Santander | BUY | SAN SM ! €4.75 ! PT: € 5.10 | % to PT: +7% A 1% miss versus cons at bottom-line level albeit some variations by geos. But decent print at PBT level (+1% beat). Revenue dynamics trending well, with Spain particularly strong. Brazil NII and asset quality trends also supportive, alongside good performance in fees in the US. Across the Group, OpEx and…

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Why Inditex is worth twice as much as Santander if it earns half as much

Aurelio Medel (5 Días) | Inditex, the textile empire controlled by Amancio Ortega, has become the Spanish company with the highest stock market value (145,000 million), a capitalisation that is almost double that of Banco Santander (74,000 million). But the surprising thing is that this difference in value bears no relation to profit, neither present nor foreseeable in the medium term. Inditex is today worth twice as much as Santander…

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Santander increases cash dividend by 50% and will buy back nearly 1.5 billion shares

Banco Santander’s board of directors announced on Monday that it will vote at the next general shareholders’ meeting, scheduled for 22 March 2024, on a final cash dividend charged to 2023 of €0.095 per share. Thus, the total cash payment from last year’s accounts will be 17.60 cents, an increase of approximately 50% compared to the remuneration of the previous period. In addition, the bank will launch a share buyback…

Banco Santander

Santander reports attributable profit of €11,076 million for 2023, up 15%

Santander achieved an attributable profit of €11,076 million in 2023, up 15% in current euros versus 2022, as strong growth in revenues, particularly in Europe, growth in customers and good cost control more than offset the expected year-on-year growth in provisions. In the fourth quarter, attributable profit increased 42% (+28% in current euros) versus the fourth quarter of 2022 to €2,933 million. Santander increased profitability and shareholder value, with a…

Banco Santander

Santander, only Spanish bank on FSB list of 29 financial institutions of global systemic importance in 2023

The Santander is once again the only Spanish bank to appear on the list of 29 financial institutions of global systemic importance in 2023, according to the classification drawn up by the Financial Stability Board (FSB) and published in the newspaper Cinco Días. Inclusion in this systemic bank category means that banks will have to assume additional capital requirements to cover the risk in the system due to their size….

Banco Santander

Santander reports attributable profit of €8,143 million for first nine months, increasing earnings per share by 17%

Santander achieved an attributable profit of €8,143 million in the first nine months of 2023, up 11% in current euros versus the same period last year, as strong growth in revenues, particularly in Europe and Mexico, offset the expected year-on-year growth in provisions. In the third quarter, attributable profit increased 26% (+20% in current euros) versus the third quarter of last year to €2,902 million. The strength of the results…


Santander UK potentially interested in buying up to £3bn of residential mortgages from Metro Bank

Norbolsa | Metro Bank announced on Sunday a £325m capital increase and a £600m debt refinancing, following a weekend of urgent talks to strengthen its balance sheet and improve its capital ratios. This deal would hand majority control to its largest investor, Jaime Gilinski (53% when the transaction is completed). The debt restructuring will extend the maturity of its loans and holders of the £250m bond due June 28 will…

Banco Santander

Santander raises dividend and announces €1,310-million buyback

Banco Santander will pay a cash dividend on account of 2023 earnings of 8.10 euro cents per share, an increase of 39% compared to the same dividend last year, it was announced late on Tuesday. It will also launch a share buyback programme for an approximate amount of €1,310 million, subject to regulatory approval. Since 2021, Santander has repurchased more than 7% of its shares in circulation through share buybacks….


Santander’s UK subsidiary launches savings account at 5.2%, BBVA Italia raises interest on deposits from 3% to 5%

Link Securities| Santander and BBVA are improving the remuneration of savings in their international markets, as opposed to the more conservative strategy they are following in Spain, according to Expansión today. Here, both banks have so far considered that excess liquidity and competitive dynamics justify the absence of deposit payments. However, Santander UK, SAN’s UK subsidiary, launched a savings account at 5.2% and BBVA Italia is raising the interest rate…

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Santander’s pioneering digitised core banking with proprietary software makes it world’s most innovative bank, according to The Banker

CdM | The Spanish bank has been named “world’s most innovative bank” by The Banker magazine. The publication has given the highest recognition of its awards for innovation in digital banking thanks to the successful implementation of Gravity, the digital platform developed by the entity and native in the cloud that is being implemented worldwide to help the bank become a fully digital company. The Banker described Gravity as a…