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….
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…
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…
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…
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…
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%.
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…
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…
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…