4.5500 0.00 (0.00%)
After hours: 4:02PM EDT
|Bid||4.5400 x 301800|
|Ask||4.5500 x 39400|
|Day's Range||4.5400 - 4.6100|
|52 Week Range||4.2100 - 5.6600|
|Beta (3Y Monthly)||0.88|
|PE Ratio (TTM)||9.44|
|Forward Dividend & Yield||0.26 (5.65%)|
|1y Target Est||N/A|
Customers in the UK and Poland can now transfer up to 10,000 euros via the One Pay FX iOS app instantly.
Santander offered to pay Andrea Orcel a sign-on package worth up to €52m in its aborted attempt to recruit him as chief executive, according to a formal offer letter seen by the Financial Times. In the ...
As Deutsche Bank begins a major restructuring effort, Kevin Doran, CIO at AJ Bell, says the bank has "very much buried their head in the sand for easily a decade now."
(Bloomberg) -- The U.K. is catching up with global bond gains as investors bet the Bank of England will be forced to follow peers in signaling rate cuts.Money markets are now pricing in a full 25-basis-point cut by next August, following warnings about trade conflicts from BOE Governor Mark Carney and disappointing U.K. economic data. That is leading Banco Santander SA, JPMorgan Chase & Co. and UBS Group AG to see a steeper gilt yield curve as short-term bonds climb faster.“Gilts were defying gravity towards the end of June and ignoring the ongoing rallies in the U.S. and euro zone,” said Adam Dent, a U.K. rates strategist at Santander. “This week the penny dropped and we snapped back. Long-term rates can stage a bit of a recovery in coming days as things settle down, but the very front end has a lot of scope to keep moving.”While a stronger-than-expected U.S. jobs number on Friday took the shine off the past week’s global bond rally, gilts still outperformed their German and U.S. equivalents. Ten-year yields dropped below the BOE’s key rate two days before bunds did the same with the European Central Bank’s deposit rate.With more and more of Europe’s debt joining a record global pile of negative-yielding debt, benchmark gilts still offer yield hunters 0.74%, more than double Spain. While European nations focus on the economic outlook and prospect for ECB stimulus, for gilt traders there is also a lot of political risk to weigh up.The contest to elect the next prime minister is ongoing, with the result due on July 24, and then there’s the Brexit deadline on Oct. 31. Front runner Boris Johnson has raised the prospect of leaving the European Union even without a withdrawal agreement with Brussels.For Santander’s Dent, short-term gilt yields are likely to continue lower given the acute shock looming over the U.K. if Britain does eventually leave the bloc without a deal. He sees 10-year gilts reversing some of their aggressive month-to-date rally next week, making a bet on a steeper curve between the two-year and 10-year an attractive play.Even for those not convinced the U.K. rally has staying power, it takes a lot to bet against it right now. Gilts are too expensive given inflation and recent PMI data for Investec Asset Management portfolio manager Russell Silberston, but he is not shorting them.“Our bias is to be underweight,” said Silberston. “However, we have not actually sold yet as it is like standing in front of a steam train. Global duration is on a rip.”To contact the reporter on this story: Charlotte Ryan in London at email@example.comTo contact the editors responsible for this story: Ven Ram at firstname.lastname@example.org, Neil Chatterjee, Scott HamiltonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
FT premium subscribers can click here to receive Due Diligence every day by email. One thing to start: Goldman Sachs has secured a legal victory that will allow the US investment bank to keep the lid on its dealings with the controversial German financier Lars Windhorst.
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.
Moody's Investors Service (Moody's) today assigned local and foreign currency long-term junior senior unsecured (also commonly referred to as "senior non-preferred") ratings of (P)Baa3 to Santander Consumer Bank AS's (SCB) Euro Medium Term Note (MTN) programme. This rating action follows SCB's update of its EUR2.5 billion MTN programme, under which the bank can issue debt designated as "Senior Non-Preferred Notes" in the documentation. This junior senior unsecured debt would rank junior to other senior obligations, including senior unsecured debt, and senior to subordinated debt in resolution and insolvency.
(Bloomberg) -- Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country.Aegon NV and Mapfre SA are now set to become Santander’s insurance partners in Spain. Aegon is expected to purchase 51% in a joint venture that will sell life risk, health, accidents, home and other non-life products through Santander’s network. Mapfre is acquiring a 50% stake in a partnership to sell car insurance and insurance for small- and medium-sized businesses.The move marks another step in the consolidation of Banco Popular, which had been in partnership with the German insurer before Santander bought it in 2017. The Spanish bank last week agreed with unions to cut 3,223 jobs in the country as part of the integration of the failed lender.Allianz will remain active in Spain. Europe’s biggest insurer manages about 7 billion euros of assets outside the Allianz Popular joint venture. In 2018, it gathered about 700 million euros of premiums through its direct business, twice the 362 million euros of policies that came through Allianz Popular.Top 10The end of the joint venture will knock Allianz out of the top 10 life insurers in Spain, an unusual position for the German company. Allianz has an annual budget for acquisitions of about 1.5 billion euros, according to a spokesman.“If opportunities come along and they are in the right segment of the market, we will look at them,” Allianz spokesman Holger Klotz said by telephone.Santander said it expects the transaction to occur in in the first quarter of 2020 and that it will have a negative impact of 8 basis points on its CET1 ratio. The lender fell 0.3 percent at 1:19 p.m. in Madrid, while Allianz was little changed in Frankfurt.Popular collapsed in 2017 after failing to repair a balance sheet weighed down by loans that soured during Spain’s real estate crash. Santander agreed to take on the bank, acquiring it for 1 euro.In Spain, life insurance is typically distributed through banks. Allianz and Banco Popular created the joint venture to sell life insurance, asset management, non-life insurance products and pensions in Spain. With the European Central Bank set to extend its monetary policy of negative interest rates for the foreseeable future Spanish banks are looking for alternative revenue streams to generate profit.Allianz spent $1 billion last month on two deals in the U.K. general-insurance market.(Updates with details of Allianz’s Spain business from fourth paragraph.)To contact the reporters on this story: Charlie Devereux in Madrid at email@example.com;Will Hadfield in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Dale Crofts at email@example.com, ;Shelley Robinson at firstname.lastname@example.org, Christian BaumgaertelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts, usually don't make them change their opinion towards a company. This time it may be different. During the fourth quarter of 2018 we observed increased volatility and small-cap stocks underperformed the […]
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Santander Totta S.A. Madrid, June 14, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Santander Totta S.A. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's de México S.A. de C.V has today announced that the long-term senior usecured debt ratings of Aaa.mx in the Mexican national scale and A3 in the global scale of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México 's (Banco Santander México) reopening of its sixth and seventh issuance of certificados bursátiles bancarios (cebures) remain unchanged. The reopening is for an additional combined amount of up to MXN3.1 billion.
Today we're going to take a look at the well-established Banco Santander, S.A. (BME:SAN). The company's stock received...
Moody´s de México, ("Moody´s") has today affirmed the senior debt, deposit, and issuer ratings of seven Mexican banks and the bank deposit insurer, Instituto para la Protección al Ahorro Bancario (IPAB, A3 negative), and changed the rating outlooks to negative from stable.
Britain's banks and building societies will have to charge the same amount for all overdrafts from April 2020, the Financial Conduct Authority (FCA) said on Friday, in a radical change that will raise questions about the future of free in-credit banking. The changes will make overdrafts simpler, fairer and easier to manage, protecting the millions of consumers who use overdrafts, particularly more vulnerable consumers, the watchdog said. "The overdraft market is dysfunctional, causing significant consumer harm," FCA Chief Executive Andrew Bailey said in a statement.
Spain's Banco Santander is to cut about 200 jobs in its British subsidiary as part of a reorganisation, it said on Tuesday, adding the changes would affect the corporate and commercial banking division. Tim Hinton, head of corporate and commercial banking at Santander UK, said the bank was announcing the changes after consultations with trade unions. The bank is consulting with 330 staff about redundancy and 130 new roles will be created, said Linda Rolph of the bank's employee union Advance, which is in talks with Santander about the cuts.
Moody's Investors Service has today upgraded Santander Bank Polska S.A.'s (SBP) long-term deposit ratings to A2 from A3 and its long-term senior unsecured debt rating to A3 from Baa1. The outlook on the long-term deposit and senior unsecured debt ratings is changed to stable from positive.
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.
Moody's Investors Service today upgraded the long-term deposit, senior unsecured and issuer ratings of PSA Banque France (PSA BF) to A3 from Baa1. Moody's also upgraded PSA BF's baseline credit assessment (BCA) to baa3 from ba1, its adjusted BCA to baa2 from baa3, its counterparty risk ratings to A2/Prime-1 from A3/Prime-2 and its counterparty risk assessment to A2(cr)/Prime-1(cr) from A3(cr)/Prime-2(cr). The rating agency affirmed the bank's short-term deposit, deposit note program and issuer ratings of Prime-2.