All things considered SAN doing okay. Future looks promising.
SAN is holding up pretty well all things considered. It seems everybody has jumped on the bandwagon saying the bank is not out of the woods yet and there are many dark days ahead as loan losses continue to pile up especially in Spain. And, on top of that operating performance in Brazil and the UK is eroding.
Yesterday I posted on this message board that the worst was behind SAN and that Q IV included lots of loan loss provisions and other rainy day accruals. The market obviously didn't agree with me as many investors ran for the exits. I think SAN is going through what the US money center banks went through last year. I believe they are in the process of getting out of the woods and things will be looking up as we go through 2013. At least that's how I'm playing the game. It helps to get paid while you wait.