BSBR - Banco Santander (Brasil) S.A.

Santander under fire over handling of PPI claims

A deluge of last-minute complaints has hit Santander and profits across the UK banking sector. companies, CMCs, which handle customer complaints in exchange for a cut of any compensation payout, drove a massive influx of inquiries from potential victims. This was ahead of a deadline for complaints about the insurance at the end of last month.

Activist investor calls on AT&T to rein in its sprawling empire

One scoop to start: SoftBank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering after it received a cool reception from investors. Elliott Management, the activist fund founded by Paul Singer, has taken one of its largest positions ever, adding to the onslaught of “super campaigns” in some of America’s largest companies. With a market capitalisation of more than $270bn, the US telecoms group represents one of Elliott’s largest targets in recent memory.

RPT-Santander to increase its Mexican business ownership to 91.6%

Santander will increase its ownership of its Mexican business to 91.65% from 74.96% after a stock exchange offer, the bank told the Spanish regulator late on Friday. In April, the Spanish bank announced an offer to take full control of its Mexican business through a close-to 2.6-billion-euro all-share deal as it chases potentially higher returns available from Latin America. The deal sought to unwind Santander's listing of 25% of the bank on the Mexican stock exchange in 2012.

Andrea Orcel demanded more power before Santander chief role withdrawn

Andrea Orcel demanded that Santander’s Ana Botín “empower” him in his role as chief executive of the Spanish lender days before the group abandoned its plans to hire him, according to correspondence seen by the Financial Times.

Santander to increase its Mexican business ownership to 91.6%

Santander will increase its ownership of its Mexican business to 91.65% from 74.96% after a stock exchange offer, the bank told the Spanish regulator late on Friday. In April, the Spanish bank announced an offer to take full control of its Mexican business through a close-to 2.6-billion-euro all-share deal as it chases potentially higher returns available from Latin America. The deal sought to unwind Santander's listing of 25% of the bank on the Mexican stock exchange in 2012.

Mortgage wars slash the price of a five-year fix

this week as lenders unveiled new deals designed to lure borrowers away from rivals and retain the loyalty of existing customers. On Friday, Santander launched the lowest five-year fixed rate remortgage deal currently on the market with an interest rate of 1.55 per cent — a record low for the lender on a deal of this length. It came a day after HSBC announced a new 1.59 per cent five-year mortgage and remortgage deal, up to a maximum loan amount of £5m.

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BTG’s Biggest Bull Is Unfazed by Turmoil That Sent Shares Tumbling

(Bloomberg) -- Banco BTG Pactual SA’s most optimistic backers are standing by the investment bank as it grapples with a crisis echoing one four years ago that almost took down the firm.“The company is currently in a much more solid, liquid and solvent situation than it was in 2015,” Henrique Navarro and Olavo Arthuzo, analysts at Banco Santander SA, wrote in a report late Monday. They reiterated their buy rating and a price target that’s the highest among sell-side analysts, according to data compiled by Bloomberg.BTG, Latin America’s biggest stand-alone investment bank, rebounded as much as 11% Tuesday after plunging 31% the previous two days on news that police had searched the firm’s offices and the home of the bank’s founder and largest shareholder, Andre Esteves. A report Monday detailed separate allegations that the bank maintained a department to advise clients on money laundering.BTG faced a liquidity crisis in 2015, when the long-running probe known as “Carwash” led to the arrest of Esteves, 51. This time the bank hasn’t experienced significant withdrawals, a person familiar with the situation said, asking not to be identified because the information is confidential. BTG denied any irregularities and called the money-laundering report “absurd.” Esteves was cleared of the 2015 charges.Shares of the company climbed 9.2% to 50.71 reais at 12:09 p.m. in Sao Paulo, paring the decline since Thursday’s close to 25%. Santander left intact its price target of 88 reais.BTG stock could also benefit from a share buyback program announced in October. “So far, the bank has repurchased 6.4 million units, representing 42% of the program,” the Santander analysts said, and BTG still has 8.6 million units eligible for the plan, according to a Tuesday regulatory filing. The bank’s own brokerage has accounted for most of the net buying of the bank’s shares since Friday, data compiled by Bloomberg show.“We understand the negative pressure on the stock -- after all, banking is all about trust, and no one can predict how this situation will evolve,” Navarro and Arthuzo said in their report. “For the time being, we see no impact that would be material enough to bring it to a hold rating.”To contact the reporters on this story: Vinícius Andrade in São Paulo at vandrade3@bloomberg.net;Felipe Marques in Sao Paulo at fmarques10@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Steve Dickson, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

Santander Group Expands Use Of Ripple Payments Technology

Banco Santander SA (NYSE: SAN ) is building a payments network that will allow Latin American customers to freely transfer money to the U.S. via a mobile app that uses Ripple technology, according to CoinDesk.  ...

UPDATE 1-Santander Brasil launches card processing service using rivals' machines

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.

MOVES-Industrial and Commercial Bank of China, CLSA, Santander