|Bid||4.5500 x 38800|
|Ask||4.5600 x 45900|
|Day's Range||4.5400 - 4.5800|
|52 Week Range||4.2100 - 5.6600|
|Beta (3Y Monthly)||0.88|
|PE Ratio (TTM)||9.45|
|Earnings Date||Jan 25, 2017 - Feb 1, 2017|
|Forward Dividend & Yield||0.26 (5.96%)|
|1y Target Est||5.05|
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.
(Bloomberg) -- It looks like Banco Santander SA picked the right time to grow in Latin America.The Spanish lender’s surging businesses there delivered second-quarter profit growth that made up for a lackluster performance in Europe. Shareholders on Tuesday approved a capital increase to buy out the 25% of the bank’s Mexican unit that it doesn’t already own, continuing its expansion in the region.As years of low interest rates weigh on the profits of European peers, Santander is leaning ever more on Latin America, where it seeks to benefit from growing populations, including many people who are using banking services for the first time. The results highlight the diverging fortunes of the bank’s business as North and South America account for a rising share of underlying earnings with Brazil, the bank’s main profit driver, rising 19%.Underlying profit at the Madrid-based lender rose 5% to 2.1 billion euros ($2.4 billion) in the three months through June, the best quarterly performance in eight years, according to Chairman Ana Botin. The results would have been even better if Brazil’s real hadn’t fallen against the euro.Meanwhile, the lender’s European business is marked by cost reductions, branch closures and a long struggle to improve profitability at its U.K. unit. Santander is cutting more than 3,000 jobs and shuttering duplicate branches in Spain as part of the integration of Banco Popular Espanol, contributing to a 706 million euro charge in the second quarter that caused net income to drop by 18%. The bank is also pulling back in the U.K. and Poland.Sweet SpotWhile Santander’s 658 billion euros of deposits in Europe are more than twice the total of the Americas, the latter accounts for 55% of the group’s underlying profit.Santander rose as much as 3% in Madrid trading and was up 2.9% at 4.10 euros as of 11:38 a.m.“The evolution of countries in Latin America continues to be a vital support,” said Nuria Alvarez, an analyst at Renta 4 Banco in Madrid. That’s “in spite of the complicated environment that they have in the U.K and in Spain.”The bet on Latin America looks likely to continue and even increase. On Tuesday, the bank’s shareholders voted to approve a 2.6 billion euro capital increase to fund the purchase of the Mexican unit stake. The business had a 13% market share in Mexico at the end of 2018.Santander is rolling out a digital-banking app, designed to capture low income customers who have never had an account, in Mexico and Chile after piloting the service in Brazil.In Spain, underlying profit was virtually flat, held back by stagnant net interest income and fees. Santander’s U.K. unit continued to struggle with regulations that oblige the bank to separate its investment arms from retail banking. Net income at the British business fell to 327 million euros in the second quarter compared with 375 million euros a year ago.The job reductions are part of a global plan to reduce annual costs by 1.2 billion euros, with most of the cutbacks coming in Europe.Here are some highlights from Santander’s second-quarter report:Net income fell 18% year-on-year to 1.39 billion euros, beating the analyst consensus of 1.27 billion euros.The bank’s fully-loaded and phased in CET1 ratio was 11.3% , in line with its medium-term targetNet interest income of 8.95 billion euros in the second quarter beat the consensus of 8.77 billion euros(Updates with details of Mexico buyback in seventh paragraph.)To contact the reporter on this story: Charlie Devereux in Madrid at firstname.lastname@example.orgTo contact the editors responsible for this story: Dale Crofts at email@example.com, Ross LarsenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A surge in automakers and strong earnings from Europe's banking heavyweights lifted the main STOXX 600 index to its highest level in more than two weeks on Tuesday, with investors taking political upheaval in Britain and Spain in their stride. The pan-European benchmark closed at its highest since July 4 as automakers rallied 3.8% for their strongest performance since early January. "Industrials are up because they are cheap and unloved and none of them produced bad enough numbers," said Toby Clothier, co-head of Global Thematic Group at Mirabaud Securities in London.
PayPal (PYPL) is up an impressive 42.5% YTD, continuing a very strong growth trend since the company's spin-off from eBay (EBAY). Here's what investors should expect from PYPL's Q2 earnings report.
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 firstname.lastname@example.orgTo contact the editors responsible for this story: Ven Ram at email@example.com, Neil Chatterjee, Scott HamiltonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
BOSTON, June 28, 2019 /PRNewswire/ -- Today, Santander Holdings USA, Inc. (the "Company") announced its planned capital actions for the third quarter of 2019 through the second quarter of 2020, which are included in its 2019 Capital Plan (the "Capital Plan"). The Company's planned capital actions under the Capital Plan include common dividends to Banco Santander, S.A., the Company's sole shareholder, of $125 million per quarter.
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.
BOSTON, June 25, 2019 /PRNewswire/ -- Santander Bank, N.A. ("Santander") today announced that its Commercial Banking division will serve as the Family Discovery Series sponsor for the Kimmel Center for the Performing Arts ("the Kimmel Center") for the 2019-2020 season. The Kimmel Center is the preeminent center for the arts in greater Philadelphia and engages the region's diverse communities in art through performance and education with exceptional experiences that reflect the spirit of the Philadelphia region. The Family Discovery Series offers a variety of performances and artistic experiences geared specifically for children and families.
(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 firstname.lastname@example.org;Will Hadfield in London at email@example.comTo contact the editors responsible for this story: Dale Crofts at firstname.lastname@example.org, ;Shelley Robinson at email@example.com, 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.
BOSTON, June 13, 2019 /PRNewswire/ -- To commemorate the important role small businesses play in supporting the communities where they operate, Santander Bank turned the U.S. Small Business Administration's ("SBA") annual 'National Small Business Week' — celebrated May 5 through May 11— into a month-long celebration. The Bank hosted in-branch networking events throughout the month of May for business customers and prospects, and presented a $75,000 charitable contribution check to Dorchester Bay Economic Development Corporation ("DBEDC"), a Community Development Financial Institution ("CDFI"), to support small business development and financial education. "From the jobs they create to the services they provide, small businesses are the backbone of our economy," said Amir Madjlessi, Santander's Executive Director and Head of Business Banking.
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...