Santander Bank

Markets 22nd May 2012

Goldman Sachs forecasts 50pc price increase for Santander, BBVA

MADRID | Finance daily newspaper Expansion reported Tuesday that investment bank Goldman Sachs expects Santander and BBVA stock price to go up by 50 percent, according to an analysts’ note. The confidence of Goldman Sachs experts goes far beyond the two big Spanish banks, too. All medium-sized banks in Spain had their ratings updated with higher value, apart from Bankinter, whose share price was reduced to €2.70 or 10% lower than at Monday’s close. The punishment Spain’s banking…

In Europe 15th May 2012

Growth in UK economy depends on 5pc core small businesses

LONDON | Less than 5 percent of all small businesses play the biggest role in boosting the UK economy, a new report by Santander Corporate Banking has concluded. The study, released Tuesday, also indicated that this same small fraction of SMEs accounts for two-thirds of all private-sector employment. Santander analysts found that a very limited number of small businesses have a significantly higher economic impact than the rest of the UK small…

Companies 14th May 2012

Santander details provisions in bid to reassure shareholders over €0.6 dividend

MADRID | Banco Santander on Monday announced that the banking group in Spain, including Banesto, will require €2.7 billion before taxes to comply with the new legislation passed last May 11 on real estate asset provisions. These charges are in addition to the reserves already made compulsory by a decree-law in February, of which €2.3 billion before taxes are still pending, as stated in a filing sent to the Spanish regulator…

Companies 9th May 2012

Ferrovial will set up its Intelligent City research centre in Santander

MADRID | Ferrovial and the local authorities of the Spanish city of Santander reached an agreement to create a research centre for Intelligent Cities, the company said on Wednesday. The Centre’s researchers may also work on projects implemented under the cooperation agreement between Ferrovial and Massachusetts Institute of Technology (MIT). This new public-private initiative in the area of research and urban development will adopt an open innovation approach which enables it to join projects…

Companies 26th April 2012

Santander, BBVA surpass €1 billion profit in Q1 2012: the geographical key

MADRID | Banco Santander registered a net attributable profit of €1.604 billion in the first quarter of 2012, a decline of 24% year on year. Santander, that released Thursday its results for the January-March period of this year, noted that this decline was mainly due to the significant increase in provisions for non-performing loans, which rose by 51% to €3.127 billion. Banco Santander revenues in the first quarter grew by more than…

Companies 30th March 2012

Santander wins ‘UK Business Bank’ award ahead of Emilio Botín re-election

MADRID, LONDON | Emilio Botin will be re-elected on Saturday as board director and president of the Spanish financial group, currently third in the domestic rank after Caixabank and BBVA. But he got today a special gift via London: Banco Santander was named ‘Business Bank of the Year’ in the UK at the annual Business Moneyfacts Awards for its strategy to become the small and medium-sized companies’ bank of choice. It was the…

Companies 27th March 2012

CaixaBank+Banca Cívica = Spain’s €342-billion leading financial group

Should Banco Santander and BBVA watch out for this one? The absorption of Banca Cívica, approved on Monday by Caixabank’s board, will create the leading bank in the Spanish market, with assets of €342 billion, stock market capitalization in excess of €16 billion, 14 million customers and an average Spanish market share in deposits of 14.0%, in customer loans of 13.4% and in total assets of 10.5%. CaixaBank will become…

aggregation line 15th February 2012

Santander UK secures £65 million from the European Investment Bank for education

Santander will receive the third tranche of funding from the European Investment Bank (EIB) to provide discounted loan rates to higher and further education facilities, science parks, incubation centres and other qualifying businesses in the education sector. The programme is part of the EIB’s engagement to support and strengthen the UK’s knowledge economy. The Spanish bank said that “The £65 million fund will help support the education sector, in turn helping to…

Spanish economy 1st February 2012

Botín, the master of Spanish finances

By Julia Pastor, in Madrid | The president of the bank Santander Emilio Botín knows very well what he is talking about, and from where he is talking. He has a privileged position. He leads the most powerful and respected bank, not only in Spain but also in Europe. That is why on Tuesday, during the conference press to render and explain the banks’ last year results, he could afford…

Markets 31st January 2012

Santander’s Botín to Spanish banks: it can be done, good results and provisions

By Tania Suárez, in Madrid | Banco Santander’s 4Q11 results are better than expected: it has registered attributable net profit of €5.351 billion, down 35%, after extraordinary provisions of €3.183 billion. According to Sabadell’s analysts, Santander “has achieved better results in the UK than expected, despite having suffered the negative effects of the new UK liquidity regulation.” Santander has noted important expenses (€3.180bn) with its property portfolio, with its Portuguese…

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