Spanish banking giant Banco Santander has reported its annual financial results for 2011, including net profits of €5.35bn. This is a 35% decline from the €8.2bn of 2010, and comes following extraordinary provisions of €3.18bn. If the bank had not made pre-tax provisions in Q4 against Spanish property exposure annual profits would have come to [...]
Banco Santander has reported that Francisco Luzon has announced his voluntary resignation as head of the Americas Division and an executive board member. Luzon will be succeeded as head of the Americas Division by Senior Executive Vice President Jesús Zabalza. Santander expressed its recognition of the extraordinary work that Luzon had done on its behalf [...]
Santander says it has completed a series of measures regarding capital that have allowed it to achieve a core capital ratio of 9% ahead of the European Banking Authority’s (EBA) deadline of June 30th 2012. The measures include an agreement to transfer 4.41% of Santander Brazil to a major international financial institution. Last year, the [...]
Spanish banking giant Banco Santander has announced that it has made an agreement to sell its units in Colombia to CorpBanca of Chile for US$1.225bn (approximately €910m). As a result of the transaction the bank will generate capital gains of €615m, which will be used to bolster its balance sheet. The deal is expected to [...]
Spanish banking giant Banco Santander has been named the Bank of the Year in Western Europe by The Banker magazine. The magazine praised Santander for increasing its deposits during a time of uncertainty, with deposits rising by 22% last year, and 21% in Spain. Santander also won many other awards, including being named the Bank [...]
Spanish banking giant Banco Santander has reported its financial results for the first nine months of 2011, including net income of €5.3bn. This is a 13% decline from the €6.08bn net profits the firm made during the corresponding period in 2010. The nine month profit figures take account of a €620m fund established in Q2 [...]
Moody’s has today downgraded the senior debt and deposit ratings of 12 UK financial institutions and confirmed the ratings of one. The firm says its has reassessed the support environment in the UK in the light of “announcements made” and actions already taken, which have “significantly reduced the predictability of state support over the medium [...]
Banco Santander Chief Executive Alfredo Sáenz has forecast that over the next three years the Spanish banking giant would see its profits gradually normalise. Sáenz predicted that a return on equity of 12-14% was eminently achievable, and that normalisation would take place in a world of new regulations, but that low interest rates could help [...]
Santander UK is reported to be delaying an initial public offering from this year to next, having taken account of the UK’s uncertain regulatory environment. The prospect of a flotation of part of the business first emerged in early 2010, when plans were put on hold. They have since almost certainly been delayed by the [...]
Banco Santander has successfully acquired Bank Zachodni WBK, the third largest bank in Poland according to branches and profits. The takeover offer was closed with an acceptance rate of 95.6% of the institution’s capital, and comes after Santander’s agreement with Allied Irish Banks (AIB) to acquire its stake in BZ WBK. The new acquisition will [...]
Banco Santander has submitted a tender offer for Bank Zachodni WBK (BZWBK). The offer forms part of the agreement between Banco Santander and Allied Irish Banks (AIB) for the acquisition of AIB’s stake in the Polish bank, announced in September 2010. Santander anticipates paying around €4 billion for the total share capital of the business, [...]
Santander’s troubles over customer service have peaked as the year draws to a close, with the bank admitting that up to 35,000 people could have received other customers’ details on their statements. According to a BBC report, an error at the printing stage led to statements being sent out to the bank’s current account holders [...]
Banco Santander has announced that it is to put forward Fabio Barbosa as chairman of the Board of Directors at the next meeting of Santander Brasil’s general meeting of shareholders. Barbosa will be succeeded as Santander Brasil’s chief executive officer by Marcial Portela. Barbosa had indicated his desire to vacate the CEO position, having held [...]
