|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.8725 - 3.8725|
|52 Week Range||3.8600 - 5.3000|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||8.03|
|Forward Dividend & Yield||0.26 (6.73%)|
|1y Target Est||N/A|
RBS and Santander have been told to appoint independent bodies to monitor their payment protection insurance processes after falling foul of competition rules for the second time since 2016. The UK’s competition watchdog said on Friday the two banks had either failed to send or had sent out inaccurate annual PPI reminders, in breach of a 2011 order that followed the major PPI mis-selling scandal that developed over a period of decades. The Competition and Markets Authority said RBS had failed to provide reminders to almost 11,000 of its customers for up to 6 years, meaning those affected were unable to fully assess whether they wanted to continue paying for PPI.
Britain's competition watchdog has ordered Royal Bank of Scotland and Santander to appoint auditors to check how they remind customers who have payment protection insurance (PPI), amid a mis-selling scandal over the policies. The two banks failed to adequately remind customers about their PPI, some of whom might be due compensation as a result of Britain's biggest ever consumer banking controversy, in which more than 36 billion pounds ($44 billion) has been paid back to those affected. Both previously breached an order by the Competition and Markets Authority (CMA) requiring banks to send annual reminders to customers about PPI, the CMA said.
Banco Santander Brasil SA launched a service on Thursday that allows small merchants to capture payment transactions through its card processor company GetNet without buying the bank's card reader machine. The bank targets nearly 4 million clients that currently use their own card reader machines or those made by rivals. GetNet aims to gain between 300,000 and 400,000 new clients through this migration.
MADRID/LONDON (Reuters) - Santander has accused Andrea Orcel, who is suing the Spanish bank for 100 million euros ($111 million) after it withdrew an offer to make him its chief executive, of "dubious ethical and moral behaviour". Orcel, one of Europe's most high-profile bankers, filed a lawsuit in Madrid this month claiming breach of contract. Orcel has alleged that a four-page letter written in September in which Santander offered him the job, along with a stock and bonus package to compensate for deferred pay he risked losing by quitting UBS, is legally binding.
Banco Santander Brasil SA will launch an online platform in September, allowing Brazilians to borrow funds using a wide range of collateral, from their homes to motorcycles, Chief Executive Officer Sergio Rial told journalists on Tuesday. Rial said the move - the first among major banks in Brazil - is aimed at offering cheaper loans for consumers with useable collateral. The announcement came days after Japan's SoftBank Group Corp led a $231 million financing round for Brazilian lending platform Creditas, which has specialized in loans secured by assets.
MADRID/LONDON, July 3 (Reuters) - Santander faces a 100 million euro ($113 million) claim by Andrea Orcel, one of Europe's best-known investment bankers, after the Spanish bank offered him the job of chief executive but withdrew it when it could not meet his pay demands. Santander will have about 20 days to respond to a civil lawsuit which 56-year old Orcel plans to file in Madrid, sources familiar with the matter told Reuters on Wednesday. "Orcel is claiming 100 million euros as part of a civil lawsuit for a breach of contract," said one of the sources, speaking on condition of anonymity.
Spain's largest lender Banco Santander said on Monday it will pay almost 1 billion euros ($1.1 billion) to end an agreement between Allianz and Banco Popular over the distribution of insurance products. Banco Popular, saddled with debt, became the first bank to be wound down using new European rules aimed at avoiding taxpayer funded bailouts and was sold to Santander for a nominal one euro in June 2017. Santander agreed to pay 936.5 million euros ($1.07 billion)for Allianz Group's 60% stake in Allianz Popular which distributed insurance products for Banco Popular in Spain.
CARACAS, Venezuela (AP) — Venezuela's widespread gasoline shortages are starting to affect some cities in Colombia, where drivers depend on cheap fuel smuggled in from their socialist-governed neighbor.