Banco Santander (SAN) reported a profit of €9,605 million in 2022 (+18% in current euros), after gaining €2,289 million (+1%) in the fourth quarter. Annual net interest income rose to €38,619 million (+16%). The bank pointed out that “the effect of the rise in interest rates on net interest income has not yet been fully reflected in Spain, Portugal and the United States”. On the dividend policy, it said that…
Today Banco Santander’s executive chair, Ana Botín, pointed to the strength of Latin America (where the bank first expanded internationally 75 years ago) and said that the region is well placed to weather the crisis. Banco Santander opened a representative office in Havana in 1947, and then in Argentina and Mexico. It has invested more than €35 billion in the region, primarily since the 1990s. Today, Santander has €415 billion…
Earnings per share increased by 31% year-on-year, supported by strong profitability (RoTE of 13.6%). TNAV plus cash dividend per share increased by 11% while capital remains above 12% In the third quarter alone, attributable profit was €2,422, up 11% year-on-year (+2% in constant euros). The group has seen strong growth in customer activity in the first nine months of 2022, with loans and deposits growing by 7% and 6% respectively…
Banco Santander achieved an underlying profit of €4,894 million in the first half of 2022, up 16% in current euros versus the first half of 2021. Attributable profit, which was impacted by restructuring charges of €530 million in the same period of 2021, was up 33% in current euros. In the second quarter alone, attributable profit was €2,351 million, up 14% in current euros and 2% in constant euros. Underlying…
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.