Santander Bank

In Spain 2nd September 2023

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…

Companies 4th August 2023

Banco Santander to benefit from Brazil’s central bank’s 50 b.p. interest rate cut

Link Securities | Banco Santander (SAN) will benefit from the 50 b.p. cut in interest rates by Brazil’s central bank on Wednesday, according to Expansión on Friday. Santander has a negative sensitivity to Brazilian interest rates because, due to its type of business, interest on deposits rises much faster than lending rates, affecting the bank’s margins the more rates rise. At a recent conference with analysts, Santander CEO Héctor Grisi…

Relevant News Item 26th July 2023

Santander achieves attributable profit of €5,241m in first half of 2023, up 7%

Santander achieved an attributable profit of €5,241 million in the first half of 2023, up 7% in both constant and current euros versus the same period last year, as strong growth in revenues, particularly in Europe, offset the year-on-year growth in provisions in North and South America. In the second quarter, attributable profit increased 17% versus the second quarter of 2022 to €2,670 million, as the number of customers the…

European economy 6th July 2023

Santander’s Getnet payment system wins operating licences in 33 European countries

Link Securities| Getnet, Banco Santander’s payments solution, is accelerating its expansion in Europe, where it already has licences to operate in 33 countries, in 300,000 European businesses, Expansión reports today. In the last five years, Getnet has tripled its customer base and increased its transaction volume by 2.5 times. This growth in activity has allowed it to increase its market share by 4.15%.

Spanish economy 25th April 2023

Santander reports attributable profit of €2,571 million driven by 13% increase in income

The recent AGM approved a final cash dividend against 2022 of 5.95 euro cents per share, payable from 2 May 2023, meaning the total cash dividend charged against 2022 is up 18% versus the previous year at 11.78 euro cents. The board has approved a new remuneration policy, increasing payout from 40% to 50% of attributable profit in 2023. While loan-loss provisions were up year-on-year, mainly due to the normalization…

Spanish economy 2nd November 2022

On Santander’s 75th anniversary in Latin America, Botín says that the region is well placed to weather the crisis

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…

Spanish economy 26th October 2022

Santander Reports Attributable Profit Of €7,316 Million For The First Nine Months Of 2022, Up 25%

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…

Companies, Ibex, Spanish economy 8th October 2022

BBVA and Caixabank could have the best momentum in terms of profits: Overweight

Morgan Stanley | We are expecting a positive surprise in NII (+3.6% QoQ), which will allow for upgrades in consensus estimates for 2023. Meanwhile, in terms of provisions we are expecting stable figures. We see the best momentum in terms of profits for BBVA and Caixabank (both Overweight) and there could be a catch up in Banco Santander, as the political uncertainty lessens. Santander – Good numbers in Spain. The…

Spanish economy 28th July 2022

Santander Reports Underlying Attributable Profit Of €4,894 Million, Up 16% For The First Half Of 2022

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…

Spanish economy 6th May 2022

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…

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