Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii
Spain's Santander (MC:SAN) said its net profit in the first quarter jumped almost five times as it didn't book Covid-19 related provisions like a year ago and its U.S. unit posted a solid performance.
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REKLAMA
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii
Jednostka Banco Santander wykupi amerykański biznes konsumencki za 2,5 mld USD
https://www.pb.pl/jednostka-banco-santa ... sd-1125444
https://www.pb.pl/jednostka-banco-santa ... sd-1125444
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
MADRID (Reuters) – Spain’s Santander on Wednesday reported an eight-fold rise in fourth quarter net profit in 2021 compared to the same period a year earlier thanks to a release of COVID-related provisions which contributed to lower loan loss impairments.
MADRID (Reuters) -Spain’s Santander said on Wednesday a release of 750 million euros ($845 million) in pandemic-related provisions and a strong performance in the United States and Britain drove an eight-fold rise in fourth-quarter net profit compared to a year earlier.
The coronavirus crisis forced banks in Europe to set aside costly provisions to protect their books from any potential fallout. But banks, mainly in the United States and Britain, are starting to reduce them due to improved economic conditions.
The bank, the euro zone’s second-biggest lender, said the release of overlay provisions reflected a general improvement in the economies where Santander operates.
Net profit of 2.28 billion in the October to December period, representing a 4.6% rise against the previous quarter, was helped by a lack of restructuring charges seen in the same period last year.
In 2021, the lender swung back to a profit of 8.12 billion euros after a record annual loss of 8.77 billion euros in 2020.
Both the quarterly and the full-year net profit were in line with analysts forecasts.
With an improved economic outlook, Santander forecast a return on equity ratio (ROTE), a measure of profitability, of over 13% in 2022, up from an underlying ROTE 12.73% by the end of December. The bank has an underlying mid-term ROTE target of between 13% to 15%.
Santander also improved its core tier-1 fully loaded capital ratio, the strictest measures of solvency, to 12.12% from 11.85% in September.
The bank has expanded in emerging economies where it hopes to register a faster growth than in Spain and Britain, its core European markets, where it has been focusing on cutting costs as it has struggled with an ultra low rates environment.
It said it aimed to reach a cost-income ratio, a measure of efficiency, of around 45% at group level in 2022 from 46.2% now.
Overall, net interest income, a measure of earnings on loans minus deposit costs, rose 8.7% in the fourth quarter against the same quarter in 2020 to 8.72 billion euros, above analysts’ forecasts of 8.51 billion euros.
https://www.fxempire.com/news/article/s ... ons-885047
MADRID (Reuters) -Spain’s Santander said on Wednesday a release of 750 million euros ($845 million) in pandemic-related provisions and a strong performance in the United States and Britain drove an eight-fold rise in fourth-quarter net profit compared to a year earlier.
The coronavirus crisis forced banks in Europe to set aside costly provisions to protect their books from any potential fallout. But banks, mainly in the United States and Britain, are starting to reduce them due to improved economic conditions.
The bank, the euro zone’s second-biggest lender, said the release of overlay provisions reflected a general improvement in the economies where Santander operates.
Net profit of 2.28 billion in the October to December period, representing a 4.6% rise against the previous quarter, was helped by a lack of restructuring charges seen in the same period last year.
In 2021, the lender swung back to a profit of 8.12 billion euros after a record annual loss of 8.77 billion euros in 2020.
Both the quarterly and the full-year net profit were in line with analysts forecasts.
With an improved economic outlook, Santander forecast a return on equity ratio (ROTE), a measure of profitability, of over 13% in 2022, up from an underlying ROTE 12.73% by the end of December. The bank has an underlying mid-term ROTE target of between 13% to 15%.
Santander also improved its core tier-1 fully loaded capital ratio, the strictest measures of solvency, to 12.12% from 11.85% in September.
The bank has expanded in emerging economies where it hopes to register a faster growth than in Spain and Britain, its core European markets, where it has been focusing on cutting costs as it has struggled with an ultra low rates environment.
It said it aimed to reach a cost-income ratio, a measure of efficiency, of around 45% at group level in 2022 from 46.2% now.
Overall, net interest income, a measure of earnings on loans minus deposit costs, rose 8.7% in the fourth quarter against the same quarter in 2020 to 8.72 billion euros, above analysts’ forecasts of 8.51 billion euros.
https://www.fxempire.com/news/article/s ... ons-885047
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
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Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
MADRID (Reuters) -Spain's Santander (BME:SAN) said on Tuesday its net profit in the first quarter beat forecasts, rising 58% on the same period a year earlier thanks to higher revenues and efficiency gains in Europe.
The euro zone second-biggest lender in terms of market value booked net profit of 2.54 billion euros ($2.72 billion), up from 1.61 billion euros in the same quarter last year when earnings were hit by restructuring charges worth 530 million euros.
Analysts polled by Reuters expected Santander to post a net profit of 2.26 billion euros.
Net profit also topped the 1.84 billion euros recorded in the first quarter of 2019, before COVID-19 hit Spain, although it was lower than the 2.78 billion euros booked in the fourth quarter of 2019.
"Looking ahead, while inflation will affect the pace of global economic growth, with specific impacts varying across our regions and businesses, we are reiterating our 2022 targets," Santander Chairman Ana Botin said in a statement.
For 2022, the bank maintained an underlying return-on-equity ratio target (ROTE), a measure of profitability, of 13%, a cost-to-income ratio of 45%.
On an underlying basis, net profit rose overall by 19%, with Europe rising 30% thanks to strong growth in lending income.
Efficiency measures implemented in Europe coupled with ongoing interest rates hikes in Britain and Poland buoyed quarterly earnings.
Santander's diversification, especially in Latin America, has helped the bank cope with tough conditions for lenders in Europe since the financial crisis, where it has been cutting costs to cope with ultra low interest rates.
https://www.fxempire.com/news/article/s ... ago-979299
The euro zone second-biggest lender in terms of market value booked net profit of 2.54 billion euros ($2.72 billion), up from 1.61 billion euros in the same quarter last year when earnings were hit by restructuring charges worth 530 million euros.
Analysts polled by Reuters expected Santander to post a net profit of 2.26 billion euros.
Net profit also topped the 1.84 billion euros recorded in the first quarter of 2019, before COVID-19 hit Spain, although it was lower than the 2.78 billion euros booked in the fourth quarter of 2019.
"Looking ahead, while inflation will affect the pace of global economic growth, with specific impacts varying across our regions and businesses, we are reiterating our 2022 targets," Santander Chairman Ana Botin said in a statement.
For 2022, the bank maintained an underlying return-on-equity ratio target (ROTE), a measure of profitability, of 13%, a cost-to-income ratio of 45%.
On an underlying basis, net profit rose overall by 19%, with Europe rising 30% thanks to strong growth in lending income.
Efficiency measures implemented in Europe coupled with ongoing interest rates hikes in Britain and Poland buoyed quarterly earnings.
Santander's diversification, especially in Latin America, has helped the bank cope with tough conditions for lenders in Europe since the financial crisis, where it has been cutting costs to cope with ultra low interest rates.
https://www.fxempire.com/news/article/s ... ago-979299
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
Santander (BME:SAN) stock rose 0.7% after Bloomberg reported that the Spanish lender is set to appoint insider Hector Grisi as its chief executive officer, replacing long-time executive José Antonio Alvarez.
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Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
UniCredit stock rose 2.7% after the Italian bank raised its 2022 profit goal, while Santander (BME:SAN) stock fell 4.8% after the Spanish lender announced a rise in loan loss provisions and costs.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i strefie Euro
Santander books record 9.6 billion euro profit for 2022 on lending income
MADRID (Reuters) - A solid rise in revenues and lending income allowed Spain's Santander (BME:SAN) to post an 18% jump in profit to a record 9.6 billion euros in 2022, offsetting higher provisions set aside against uncertain economic conditions.
The euro zone's second-biggest lender by market value posted net profit in the October to December period of 2.29 billion euros, up around 1% from a year before and above the 2.07 billion euros forecast by analysts in a Reuters poll.
Net profit in 2022 - which exceeded the 9.4 billion euros expected by analysts - was boosted by higher interest rates and revenues, the addition of 7 million new clients, and a solid performance at its Corporate and Investment Bank unit.
Santander said its underlying return-on-tangible equity ratio (ROTE), a measure of profitability, finished the year at 13.37% versus 12.73% in 2021. It targeted ROTE above 15% for 2023.
At 0928 GMT its shares were up around 4%, outperforming Spain's blue-chip index Ibex-35.
In the fourth quarter loan loss provisions more than doubled year-on-year to 3.02 billion euros, mainly in the United States and Brazil, though that was slightly below analysts' forecasts and followed the release of 750 million euros a year earlier.
The lender's cost of risk rose to 99 basis points from 86 basis points in September. For 2023, it expected cost of risk to rise but remain below 120 basis points.
Banks across Europe are beginning to benefit from higher borrowing costs. Santander's net interest income - earnings on loans minus deposit costs - rose 17% to 10.2 billion euros in the quarter, broadly in line with forecasts. Full-year NII grew 16%.
Revenues rose 12% in 2022, above market forecasts, and the bank targeted double-digit revenue growth for 2023.
It benefited from movements in local currencies in Latin America, but results in this region were also marked by rising inflation across emerging markets, especially Brazil. Overall, group costs in 2022 rose 11.6%.
In Brazil, which accounts for more than a quarter of group earnings, underlying net profit fell 8% year-on-year in the quarter, and NII dropped 1% against the previous quarter, with cost of risk rising to 479 bps from 446 bps in September.
Underlying net profit in the United States fell 43% in the quarter, while in Britain profit was down 38%, also on higher impairments and charges following a regulatory fine.
This was in contrast to Spain, where net profit rose more than six-fold as provisions fell 38% in the quarter compared to the same period of 2021, while NII rose 37%.
In terms of solvency, Santander's tier-1 fully loaded capital ratio, the strictest measure of solvency, fell to 12.04% from 12.10% in September, but remained above its 12% target.
Santander said its cost-to-income ratio closed the year at 45.8% compared to 46.2% in 2021. It aimed for a ratio between 44 and 45% for 2023.
MADRID (Reuters) - A solid rise in revenues and lending income allowed Spain's Santander (BME:SAN) to post an 18% jump in profit to a record 9.6 billion euros in 2022, offsetting higher provisions set aside against uncertain economic conditions.
The euro zone's second-biggest lender by market value posted net profit in the October to December period of 2.29 billion euros, up around 1% from a year before and above the 2.07 billion euros forecast by analysts in a Reuters poll.
Net profit in 2022 - which exceeded the 9.4 billion euros expected by analysts - was boosted by higher interest rates and revenues, the addition of 7 million new clients, and a solid performance at its Corporate and Investment Bank unit.
Santander said its underlying return-on-tangible equity ratio (ROTE), a measure of profitability, finished the year at 13.37% versus 12.73% in 2021. It targeted ROTE above 15% for 2023.
At 0928 GMT its shares were up around 4%, outperforming Spain's blue-chip index Ibex-35.
In the fourth quarter loan loss provisions more than doubled year-on-year to 3.02 billion euros, mainly in the United States and Brazil, though that was slightly below analysts' forecasts and followed the release of 750 million euros a year earlier.
The lender's cost of risk rose to 99 basis points from 86 basis points in September. For 2023, it expected cost of risk to rise but remain below 120 basis points.
Banks across Europe are beginning to benefit from higher borrowing costs. Santander's net interest income - earnings on loans minus deposit costs - rose 17% to 10.2 billion euros in the quarter, broadly in line with forecasts. Full-year NII grew 16%.
Revenues rose 12% in 2022, above market forecasts, and the bank targeted double-digit revenue growth for 2023.
It benefited from movements in local currencies in Latin America, but results in this region were also marked by rising inflation across emerging markets, especially Brazil. Overall, group costs in 2022 rose 11.6%.
In Brazil, which accounts for more than a quarter of group earnings, underlying net profit fell 8% year-on-year in the quarter, and NII dropped 1% against the previous quarter, with cost of risk rising to 479 bps from 446 bps in September.
Underlying net profit in the United States fell 43% in the quarter, while in Britain profit was down 38%, also on higher impairments and charges following a regulatory fine.
This was in contrast to Spain, where net profit rose more than six-fold as provisions fell 38% in the quarter compared to the same period of 2021, while NII rose 37%.
In terms of solvency, Santander's tier-1 fully loaded capital ratio, the strictest measure of solvency, fell to 12.04% from 12.10% in September, but remained above its 12% target.
Santander said its cost-to-income ratio closed the year at 45.8% compared to 46.2% in 2021. It aimed for a ratio between 44 and 45% for 2023.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
MADRID (Reuters) - Santander (BME:SAN) Chairman Ana Botin is expected to signal bigger payouts to the bank's shareholders in a strategy update next week bolstered by an improving outlook in Europe amid higher interest rates, bankers and analysts said.
Since she took over from her late father Emilio Botin more than eight years ago, Spain's largest bank has improved its financial strength and put customer growth at its core, yet its shares have underperformed European competitors.
This has been partly due to currency depreciations in some of the emerging markets in which Santander has a significant presence, which has lowered the bank's net asset value.
Shares in Santander, the euro zone's second-biggest bank by market value, have fallen 47% since Sept. 10, 2014, while the European Stoxx 600 banks index is down around 18%.
The strategy update on Tuesday will be particularly closely watched as Santander shareholders will be asked to approve Botin's re-election as a board member at the end of March.
Her reputation suffered some damage as a result of the saga of the aborted hiring of veteran banker Andrea Orcel as its chief executive in 2018-2019.
Santander declined to comment ahead of the strategy update.
EUROPEAN TAILWIND
The main growth driver for Santander's 2023-2025 plan is expected to shift to Europe from Latin America, some analysts said, although higher revenues will also support loan growth in Brazil, its main market, and Mexico, where profitability targets are still expected to remain higher than in Europe.
"The bank will have a tailwind ... because half of the money comes from Europe. And interest rate rises mean greater margins for the bank, above all in Spain and in Santander Consumer," Enrique Quemada, chairman of investment bank ONEtoONE Corporate Finance Group, said.
Santander said on Feb. 2 when it reported its 2022 results that it expects an additional boost to its net interest income this year of up to 2.5 billion euros ($2.65 billion), especially in its home market, which still accounts for 16% of its profits.
Kepler Cheuvreux expects Santander to set a return on tangible equity (ROTE) target of above 14% by 2025 from a current target of 13.37%, while broker Renta 4 expects the target for the profitability measure to be set above 15% for 2025, the same as for 2023.
Broker Kepler forecasts that Santander will report a net profit of 12 billion euros by the end of 2025, which would imply a rise of 25% against 2022's record profit.
In Britain, some analysts are concerned about the economic outlook and its potential impact on Santander's business. But Kepler said the bank's low risk profile, with 90% of its loans made through mortgages, should enable it to keep risks in check.
Meanwhile, the United States, Santander's second-biggest market, is expected to experience some profit slowdown in coming years as provisions are expected to rise, although the bank has said these will be below pre-pandemic levels.
Santander is in the process of growing its U.S. deposit base to help fund its more profitable consumer lending business after recently exiting its mortgage activities.
New CEO Hector Grisi, who helped make Santander's U.S. business its most profitable in 2021, is expected to accelerate the bank's digital push and continue working on further cross-border collation among its global and payments business units.
A deterioration of the global economy could however lead to higher provisions and a high inflation scenario could push costs, but analysts expect that to be offset by higher revenues.
PAY-OUT FOCUS
Some analysts expect a higher shareholder payout to be main plank of Santander's investor update in London.
"I firmly believe that Santander will raise its pay-out ratio towards 50% (from 40%) given an expected improvement for margins which would still bode well with a core tier-1 (fully-loaded) capital ratio of around 12%," Nuria Alvarez, an analyst at Madrid-based brokerage Renta 4, said.
Credit Suisse does not rule out a 60% pay-out ratio.
But lower valuations than European rivals and a better outlook for retail banks could help drive a share price rebound.
Santander trades at a price to book value of 0.65%, compared to an average 0.73% from European peers.
"It probably is still one of the cheapest (big) banks in Europe by multiples and there still may be some upside potential," said Pedro Cubillo, from Spain's Singular Bank, which has between 10 and 12 billion euros under management.
Since she took over from her late father Emilio Botin more than eight years ago, Spain's largest bank has improved its financial strength and put customer growth at its core, yet its shares have underperformed European competitors.
This has been partly due to currency depreciations in some of the emerging markets in which Santander has a significant presence, which has lowered the bank's net asset value.
Shares in Santander, the euro zone's second-biggest bank by market value, have fallen 47% since Sept. 10, 2014, while the European Stoxx 600 banks index is down around 18%.
The strategy update on Tuesday will be particularly closely watched as Santander shareholders will be asked to approve Botin's re-election as a board member at the end of March.
Her reputation suffered some damage as a result of the saga of the aborted hiring of veteran banker Andrea Orcel as its chief executive in 2018-2019.
Santander declined to comment ahead of the strategy update.
EUROPEAN TAILWIND
The main growth driver for Santander's 2023-2025 plan is expected to shift to Europe from Latin America, some analysts said, although higher revenues will also support loan growth in Brazil, its main market, and Mexico, where profitability targets are still expected to remain higher than in Europe.
"The bank will have a tailwind ... because half of the money comes from Europe. And interest rate rises mean greater margins for the bank, above all in Spain and in Santander Consumer," Enrique Quemada, chairman of investment bank ONEtoONE Corporate Finance Group, said.
Santander said on Feb. 2 when it reported its 2022 results that it expects an additional boost to its net interest income this year of up to 2.5 billion euros ($2.65 billion), especially in its home market, which still accounts for 16% of its profits.
Kepler Cheuvreux expects Santander to set a return on tangible equity (ROTE) target of above 14% by 2025 from a current target of 13.37%, while broker Renta 4 expects the target for the profitability measure to be set above 15% for 2025, the same as for 2023.
Broker Kepler forecasts that Santander will report a net profit of 12 billion euros by the end of 2025, which would imply a rise of 25% against 2022's record profit.
In Britain, some analysts are concerned about the economic outlook and its potential impact on Santander's business. But Kepler said the bank's low risk profile, with 90% of its loans made through mortgages, should enable it to keep risks in check.
Meanwhile, the United States, Santander's second-biggest market, is expected to experience some profit slowdown in coming years as provisions are expected to rise, although the bank has said these will be below pre-pandemic levels.
Santander is in the process of growing its U.S. deposit base to help fund its more profitable consumer lending business after recently exiting its mortgage activities.
New CEO Hector Grisi, who helped make Santander's U.S. business its most profitable in 2021, is expected to accelerate the bank's digital push and continue working on further cross-border collation among its global and payments business units.
A deterioration of the global economy could however lead to higher provisions and a high inflation scenario could push costs, but analysts expect that to be offset by higher revenues.
PAY-OUT FOCUS
Some analysts expect a higher shareholder payout to be main plank of Santander's investor update in London.
"I firmly believe that Santander will raise its pay-out ratio towards 50% (from 40%) given an expected improvement for margins which would still bode well with a core tier-1 (fully-loaded) capital ratio of around 12%," Nuria Alvarez, an analyst at Madrid-based brokerage Renta 4, said.
Credit Suisse does not rule out a 60% pay-out ratio.
But lower valuations than European rivals and a better outlook for retail banks could help drive a share price rebound.
Santander trades at a price to book value of 0.65%, compared to an average 0.73% from European peers.
"It probably is still one of the cheapest (big) banks in Europe by multiples and there still may be some upside potential," said Pedro Cubillo, from Spain's Singular Bank, which has between 10 and 12 billion euros under management.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
Santander lifts profitability goal to 15-17%, pay-out to 50% in 3-year strategy
MADRID (Reuters) -Spain's Santander (BME:SAN) said on Tuesday it intends to raise its return on tangible equity ratio (ROTE) for the period 2023-2025 to between 15%-17% from a current 13.37% on the back of higher revenues and interest rates in some of its core markets in Europe, such as Spain, and in South America.
The lender also unveiled in a presentation to the Spanish supervisor a new dividend pay-out policy for the period of 50% of consolidated ordinary profit, compared to the previous policy of 40%.
Santander proposed a final cash dividend of 0.0595 euros per share. As a result, the total cash dividend per share for 2022 will rise to 0.1178 euros, a rise of 18% compared to 2021. It also announced an additional share buy-back programme of 921 million euros ($974.79 million) after obtaining regulatory authorization.
The bank's shareholder remuneration against 2022 results would rise to 3.84 billion euros, split in equal parts in cash dividend and share buy-backs.
https://www.investing.com/news/economy/ ... 17-3016443
MADRID (Reuters) -Spain's Santander (BME:SAN) said on Tuesday it intends to raise its return on tangible equity ratio (ROTE) for the period 2023-2025 to between 15%-17% from a current 13.37% on the back of higher revenues and interest rates in some of its core markets in Europe, such as Spain, and in South America.
The lender also unveiled in a presentation to the Spanish supervisor a new dividend pay-out policy for the period of 50% of consolidated ordinary profit, compared to the previous policy of 40%.
Santander proposed a final cash dividend of 0.0595 euros per share. As a result, the total cash dividend per share for 2022 will rise to 0.1178 euros, a rise of 18% compared to 2021. It also announced an additional share buy-back programme of 921 million euros ($974.79 million) after obtaining regulatory authorization.
The bank's shareholder remuneration against 2022 results would rise to 3.84 billion euros, split in equal parts in cash dividend and share buy-backs.
https://www.investing.com/news/economy/ ... 17-3016443
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
The European banking sector slumped Friday, following the lead on Wall Street overnight after SVB Financial's (NASDAQ:SIVB) announcement of a $2.25 billion equity raise after revealing a $1.8B net loss and crypto bank Silvergate Capital's (NYSE:SI) decision to wind down operations.
Losses were widespread, with HSBC (LON:HSBA) stock falling 5.1%, BNP Paribas SA (EPA:BNPP) stock down 4.5% and Deutsche Bank (ETR:DBKGn) slipping 7.2%.
Swedbank (ST:SWEDa) stock fell 5.4% after the Nordic lender said it will book a provision of around $3.7M to do with a U.S. investigation over the bank's "historical shortcomings".
Standard Chartered - 4%
Santander >5%
Societe Generale ok -6%
BBVA ok -4%
Unicredit - 3,7%
Losses were widespread, with HSBC (LON:HSBA) stock falling 5.1%, BNP Paribas SA (EPA:BNPP) stock down 4.5% and Deutsche Bank (ETR:DBKGn) slipping 7.2%.
Swedbank (ST:SWEDa) stock fell 5.4% after the Nordic lender said it will book a provision of around $3.7M to do with a U.S. investigation over the bank's "historical shortcomings".
Standard Chartered - 4%
Santander >5%
Societe Generale ok -6%
BBVA ok -4%
Unicredit - 3,7%
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
BBVA, Santander, BofA want to back Mexico's $6 billion power deal - Bloomberg News
(Reuters) - Banco Bilbao (NYSE:BBVA) Vizcaya Argentaria, Banco Santander SA (NYSE:SAN) and Bank of America Corp (NYSE:BAC) together plan to fund Mexico's $6 billion deal to purchase power plants from Spain's Iberdrola (OTC:IBDRY), Bloomberg News reported on Thursday citing people familiar with the talks.
The three lenders are among a consortium looking to finance the deal, the report said, with local banks such as Grupo Financiero Banorte and billionaire Carlos Slim's Grupo Financiero Inbursa also interested.
Talks are still at an early stage, the report added.
Earlier this week, Mexico President Andres Manuel Lopez Obrador said the deal to buy 13 power plants from Iberdrola is saving the country money amid an energy dispute with the United States and Canada under a regional trade pact.
The Bank of America declined to comment on the report, while Banco Bilbao Vizcaya Argentaria, Banco Santander (BME:SAN) SA and Iberdrola did not immediately respond to Reuters' requests for comment.
BBVA, Santander, BofA want to back Mexico's $6 billion power deal - Bloomberg News
(Reuters) - Banco Bilbao (NYSE:BBVA) Vizcaya Argentaria, Banco Santander SA (NYSE:SAN) and Bank of America Corp (NYSE:BAC) together plan to fund Mexico's $6 billion deal to purchase power plants from Spain's Iberdrola (OTC:IBDRY), Bloomberg News reported on Thursday citing people familiar with the talks.
The three lenders are among a consortium looking to finance the deal, the report said, with local banks such as Grupo Financiero Banorte and billionaire Carlos Slim's Grupo Financiero Inbursa also interested.
Talks are still at an early stage, the report added.
Earlier this week, Mexico President Andres Manuel Lopez Obrador said the deal to buy 13 power plants from Iberdrola is saving the country money amid an energy dispute with the United States and Canada under a regional trade pact.
The Bank of America declined to comment on the report, while Banco Bilbao Vizcaya Argentaria, Banco Santander (BME:SAN) SA and Iberdrola did not immediately respond to Reuters' requests for comment.
BBVA, Santander, BofA want to back Mexico's $6 billion power deal - Bloomberg News
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
Swiss lender UBS (SIX:UBSG) and Spain’s Santander (BME:SAN), the eurozone’s second-biggest lender in terms of market value, disappointed the markets with their quarterly earnings results on Tuesday.
Additionally, the Swiss financial regulator FINMA questioned the crisis plans of two of the country's five systemically important banks–Zuercher Kantonalbank and PostFinance–calling their emergency blueprints insufficient.
...
MADRID (Reuters) - Spain's Santander (BME:SAN) on Tuesday beat forecasts with a 1% rise in first-quarter net profit as a strong performance in Europe offset weaker trade in Brazil and the United States.
Its net profit rose to 2.57 billion euros helped by higher lending income and despite a hit of 224 million euros from a new tax in Spain.
That topped the 2.45 billion euros expected by analysts polled by Reuters, while excluding the tax, profit rose 10%.
Provisions rose 37% to 2.87 billion euros, in line with expectations.
Santander has relied on Latin America in the past to cope with tough conditions but banks across Europe are now benefiting from higher interest rates.
Santander's underlying net interest income rose 15% to 10.19 billion euros.
However in Brazil, its main market, net profit fell 25% due to a rise in costs driven by inflation and a fall in net interest income.
Spanish brokerage Renta 4 said the bank's overall figures were "good" but highlighted a poor performance in Brazil where operating expenses (excluding exchange rate) rose by 11% and provisions were up 16%.
Underlying net profit in the United States fell 48.5% on higher funding costs in the auto business while provisions more than doubled.
In the UK, net profit rose 5%, while in Spain it rose 28% on higher lending income.
Santander shares were down 4% as of 0737 GMT.
Higher revenue helped Santander's return on tangible equity ratio (ROTE), a measure of profitability, to rise to 14.4% from 13.37% at the end of 2022. It reiterated its ROTE target of more than 15% by the end of 2023.
Overall deposits at Santander rose 6% in constant euros year on year despite the banking turmoil triggered by last month's failure of Silicon Valley Bank.
Some seasonal drawdowns in its investment bank in January led to a 2% fall in deposits versus end-2022 but the bank said deposit volumes started increasing again from February "reflecting positive business trends".
Liquidity coverage ratios remained stable at 152% in March compared to December.
Santander's Tier-1 fully loaded capital ratio, the strictest measure of solvency, rose to 12.2% from 12.04% in December.
Additionally, the Swiss financial regulator FINMA questioned the crisis plans of two of the country's five systemically important banks–Zuercher Kantonalbank and PostFinance–calling their emergency blueprints insufficient.
...
MADRID (Reuters) - Spain's Santander (BME:SAN) on Tuesday beat forecasts with a 1% rise in first-quarter net profit as a strong performance in Europe offset weaker trade in Brazil and the United States.
Its net profit rose to 2.57 billion euros helped by higher lending income and despite a hit of 224 million euros from a new tax in Spain.
That topped the 2.45 billion euros expected by analysts polled by Reuters, while excluding the tax, profit rose 10%.
Provisions rose 37% to 2.87 billion euros, in line with expectations.
Santander has relied on Latin America in the past to cope with tough conditions but banks across Europe are now benefiting from higher interest rates.
Santander's underlying net interest income rose 15% to 10.19 billion euros.
However in Brazil, its main market, net profit fell 25% due to a rise in costs driven by inflation and a fall in net interest income.
Spanish brokerage Renta 4 said the bank's overall figures were "good" but highlighted a poor performance in Brazil where operating expenses (excluding exchange rate) rose by 11% and provisions were up 16%.
Underlying net profit in the United States fell 48.5% on higher funding costs in the auto business while provisions more than doubled.
In the UK, net profit rose 5%, while in Spain it rose 28% on higher lending income.
Santander shares were down 4% as of 0737 GMT.
Higher revenue helped Santander's return on tangible equity ratio (ROTE), a measure of profitability, to rise to 14.4% from 13.37% at the end of 2022. It reiterated its ROTE target of more than 15% by the end of 2023.
Overall deposits at Santander rose 6% in constant euros year on year despite the banking turmoil triggered by last month's failure of Silicon Valley Bank.
Some seasonal drawdowns in its investment bank in January led to a 2% fall in deposits versus end-2022 but the bank said deposit volumes started increasing again from February "reflecting positive business trends".
Liquidity coverage ratios remained stable at 152% in March compared to December.
Santander's Tier-1 fully loaded capital ratio, the strictest measure of solvency, rose to 12.2% from 12.04% in December.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
MADRID (Reuters) -Santander said on Thursday it has appointed Pedro Castro e Almeida as regional head for Europe as the Spanish bank bets on this region to drive growth.
Castro e Almeida is replacing Antonio Simoes, who has been hired as the new CEO of Britain's Legal and General Group.
As regional chief, Castro e Almeida will be responsible for the bank's units in Europe, including its businesses in Spain, Britain, Poland and Portugal, the bank said.
Castro e Almeida will lead the transformation in the region and report to the group's CEO, Hector Grisi, while remaining CEO of Santander (BME:SAN) Portugal, a role he has had for the past five years.
In the past, Santander has relied on Latin America for growth to offset the tough conditions for banks in Europe since the 2008 financial crisis. But banks across Europe are now beginning to benefit from higher interest rates despite economic uncertainty.
In the first quarter of 2023, Europe was already the biggest contributor to the group's earnings among its the three main core regions, which also comprise North America and South America.
Santander's first-quarter net profit in Europe rose 17% year-on-year to around 1.2 billion euros ($1.30 billion).
As part of a February strategy update, Santander said its business in Europe would achieve an annual accumulated growth rate of between 7% and 8% in revenues between 2022 and 2025.
It is also targeting a 15% return on tangible equity ratio (ROTE), a measure of profitability, in 2025 for Europe compared with 9.28% by the end of 2022, the biggest increase in percentage points among its three core regions.
The appointment of Castro e Almeida will take effect on September 1, subject to customary approvals, with Simoes continuing in his current position until then, the lender said.
Castro e Almeida is replacing Antonio Simoes, who has been hired as the new CEO of Britain's Legal and General Group.
As regional chief, Castro e Almeida will be responsible for the bank's units in Europe, including its businesses in Spain, Britain, Poland and Portugal, the bank said.
Castro e Almeida will lead the transformation in the region and report to the group's CEO, Hector Grisi, while remaining CEO of Santander (BME:SAN) Portugal, a role he has had for the past five years.
In the past, Santander has relied on Latin America for growth to offset the tough conditions for banks in Europe since the 2008 financial crisis. But banks across Europe are now beginning to benefit from higher interest rates despite economic uncertainty.
In the first quarter of 2023, Europe was already the biggest contributor to the group's earnings among its the three main core regions, which also comprise North America and South America.
Santander's first-quarter net profit in Europe rose 17% year-on-year to around 1.2 billion euros ($1.30 billion).
As part of a February strategy update, Santander said its business in Europe would achieve an annual accumulated growth rate of between 7% and 8% in revenues between 2022 and 2025.
It is also targeting a 15% return on tangible equity ratio (ROTE), a measure of profitability, in 2025 for Europe compared with 9.28% by the end of 2022, the biggest increase in percentage points among its three core regions.
The appointment of Castro e Almeida will take effect on September 1, subject to customary approvals, with Simoes continuing in his current position until then, the lender said.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Banco Santander S.A. MADRYT & NYSE: SAN największy bank w Hiszpanii i 3. w strefie Euro
Santander expanding investment bank in US and UK, sources
Santander expanding investment bank in US and UK, sources© Reuters. FILE PHOTO: The logo of Santander bank is seen outside a branch in Ronda, Spain, October 25, 2022. REUTERS/Jon Nazca
MADRID/LONDON (Reuters) - Santander (BME:SAN) is accelerating growth of its investment bank by hiring at least 50 bankers primarily in the United States, two people with knowledge of the matter told Reuters.
Spain's biggest bank is best-known as a retail lender in Europe and Latin America, but wants to become a bigger player in investment banking under chair and former JPMorgan (NYSE:JPM) banker Ana Botin.
The expansion will involve hiring at least 50 bankers - many from stricken Credit Suisse, the sources said.
More than 20 bankers have already been recruited, chiefly in the United States, the first source said, adding the announcement on the overall hiring spree could come within weeks. New recruits could start in August, that person said.
The recruitment is being overseen by the head of Santander Corporate and Investment Banking, Jose M. Linares, also a former JPMorgan banker.
Santander is currently a minnow in U.S. investment banking. But it wants to become a 'tier two' player over time, behind Wall Street giants like Goldman Sachs (NYSE:GS), the second source said.
The hires will be focused in areas including leveraged finance and corporate services for multinational companies with a presence in Europe and Latin America, the people said.
As well as the United States, some new investment bankers will join Santander in Britain and Spain.
In the U.S., the number of staff employed at its corporate and investment banking business has climbed from around 500 at the end of 2019 to around 900, helped by the acquisition of U.S. fixed-income broker Amherst Pierpont.
In Britain, staff count has risen from 350 to around 700 in the same period.
Redburn analyst Gonzalo Lopez said investors may be wary of a strategy that in the long term could erode Santander's capital buffer - which stood at 12.2% at the end of March, below the level of many European rivals.
"One of the main concerns is about Santander's tight capital ratios," Lopez said. "This typically has been one of the main issues for growing an investment banking business, given that the capital consumption ... is bigger."
'RISKY BUSINESS'
Earlier this year, Santander outlined plans to grow its investment banking in the United States by an accumulated rate of 20% between 2023 and 2025, according to a strategy update.
In 2022, this business booked revenues of $779 million in the United States. Santander recently appointed Christiana Riley from Deutsche Bank (ETR:DBKGn) as its regional head.
The move is seen as a way to boost income from companies as it cuts subprime car lending, still its biggest U.S. business. First-quarter results there almost halved as provisions for bad loans rose.
The contribution from the overall investment bank to Santander's group's earnings rose to 32% in the first quarter of 2023, from around 20% in 2019.
Overall, profits at Santander's corporate and investment bank have risen since 2019 by around 60% to 2.8 billion euros ($3.2 billion) at the end of 2022.
In the past, Santander has relied on Latin America for growth to offset the tough conditions for banks in Europe.
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