BNC.L - Banco Santander, S.A.

LSE - LSE Delayed price. Currency in GBp
319.90
+2.35 (+0.74%)
At close: 4:35PM BST
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Previous close317.55
Open316.40
Bid318.05 x 0
Ask318.60 x 0
Day's range316.40 - 323.60
52-week range315.59 - 412.90
Volume131,869
Avg. volume10,728,340
Market cap51.117B
Beta (3Y monthly)0.71
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.20 (6.35%)
Ex-dividend date2019-04-29
1y target estN/A
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  • Santander escalates war of words with Orcel in court battle
    Reuters

    Santander escalates war of words with Orcel in court battle

    MADRID/LONDON (Reuters) - Santander has accused Andrea Orcel, who is suing the Spanish bank for 100 million euros ($111 million) after it withdrew an offer to make him its chief executive, of "dubious ethical and moral behaviour". Orcel, one of Europe's most high-profile bankers, filed a lawsuit in Madrid this month claiming breach of contract. Orcel has alleged that a four-page letter written in September in which Santander offered him the job, along with a stock and bonus package to compensate for deferred pay he risked losing by quitting UBS, is legally binding.

  • Reuters - UK Focus

    UPDATE 2-Santander escalates war of words with Orcel in court battle

    Santander has accused Andrea Orcel, who is suing the Spanish bank for 100 million euros ($111 million) after it withdrew an offer to make him its chief executive, of "dubious ethical and moral behaviour". Orcel, one of Europe's most high profile bankers, filed a lawsuit in Madrid this month claiming breach of contract.

  • Reuters - UK Focus

    Santander files response to Orcel lawsuit, says never offered contract

    Spain's Santander said it filed in court its response and opposition to a 100 million euro ($112 million) lawsuit being brought by Italian banker Andrea Orcel after it withdrew an offer to make him its chief executive earlier this year. In a statement, Santander said on Friday its original offer letter to Orcel was not a contract as required by Spanish law. Former UBS banker Orcel has filed a lawsuit in Madrid with the help of law firm De Carlos Remon, claiming breach of contract.

  • Reuters

    'Following the fintechs' Santander Brasil to launch online loans

    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. Santander's venture capital fund Santander Innoventures is also among the investors in Creditas.

  • Santander Profit Hit by Charges for Job Cuts, Restructuring
    Bloomberg

    Santander Profit Hit by Charges for Job Cuts, Restructuring

    (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 cdevereux3@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Ross LarsenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Santander to contest 100 million euro Orcel claim
    Reuters

    Santander to contest 100 million euro Orcel claim

    MADRID/LONDON (Reuters) - Santander said it would fight a 100 million euro (£89.7 million) lawsuit being brought by Italian banker Andrea Orcel after it withdrew an offer to make him its chief executive earlier this year. Santander offered Orcel, one of Europe's highest profile bankers, the role but then changed its mind in January, saying it could not meet his pay demands. Former UBS banker Orcel has filed a lawsuit in Madrid with the help of law firm De Carlos Remon, claiming breach of contract.

  • Reuters - UK Focus

    UPDATE 2-Santander to contest 100 million euro Orcel claim

    MADRID/LONDON, July 23 (Reuters) - Santander said it would fight a 100 million euro ($112 million) lawsuit being brought by Italian banker Andrea Orcel after it withdrew an offer to make him its chief executive earlier this year. Santander offered Orcel, one of Europe's highest profile bankers, the role but then changed its mind in January, saying it could not meet his pay demands. Former UBS banker Orcel has filed a lawsuit in Madrid with the help of law firm De Carlos Remon, claiming breach of contract.

  • Reuters - UK Focus

    Santander to defend position against Italian banker Orcel in court

    Spanish lender Santander on Tuesday said Italian banker Andrea Orcel was not hired by the bank as the necessary conditions were not met and it would defend its decision in court. Santander faces a 100 million euro ($112 million) claim by 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. "The bank has acted with total transparency and will present and defend its position before the courts," secretary of the board Jaime Perez Renovales said during an extraordinary general meeting.

  • Reuters - UK Focus

    LIVE MARKETS-Opening snapshot: encouraging updates lift Europe

    * Autos rise as investors shurg off Conti warning Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. European shares are off to a stronger start today as investors digest a number of encouraging earning updates in banks and tech and even manage to shrug off bad news from the auto sector, suggesting much negativity had already been priced in. AMS rose 9% to its highest since October after the Apple supplier and sensor maker said it expected strong revenue and profit growth in Q3 as an increase in deliveries of its 3D optical sensors helped it swing back to an operational profit in the Q2.

  • Reuters - UK Focus

    UPDATE 3-Spanish costs and weak UK push Santander profit 18% lower

    Spanish lender Santander reported an 18% fall in quarterly net profit hurt by one-off restructuring costs from its acquisition of Banco Popular and a weak performance in Britain despite a solid performance in Latin America. It reported a net profit of 1.39 billion euros ($1.56 billion) for the three months to the end of June, topping the 1.29 billion euros expected by analysts in a Reuters poll. The euro zone's largest bank by market capitalisation, which took over Banco Popular two years ago, recently agreed with unions on the closure of around 1,150 branches and layoffs in Spain -- around a tenth of its Spanish workforce.

  • Spanish costs and weak UK push Santander profit 18% lower
    Reuters

    Spanish costs and weak UK push Santander profit 18% lower

    Spanish lender Santander reported an 18% fall in quarterly net profit hurt by one-off restructuring costs from its acquisition of Banco Popular and a weak performance in Britain despite a solid performance in Latin America. It reported a net profit of 1.39 billion euros (£1.25 billion) for the three months to the end of June, topping the 1.29 billion euros expected by analysts in a Reuters poll. The euro zone's largest bank by market capitalisation, which took over Banco Popular two years ago, recently agreed with unions on the closure of around 1,150 branches and layoffs in Spain -- around a tenth of its Spanish workforce.

  • Santander agrees deal to buy back its Madrid headquarters - sources
    Reuters

    Santander agrees deal to buy back its Madrid headquarters - sources

    Spain's Santander has reached an agreement with the billionaire Reuben brothers to buy back its headquarters in Madrid, sources with knowledge of the matter said on Wednesday. "There's an agreement with the Reuben brothers to buy back the (property)," one of the sources with knowledge of the deal said, adding that it still needed to be signed off. Santander and the Reuben brothers' office declined to comment.

  • Reuters - UK Focus

    UPDATE 2-Santander faces 100 mln euro claim over withdrawn CEO job offer - sources

    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.

  • Santander faces 100 million euro claim over withdrawn CEO job offer - sources
    Reuters

    Santander faces 100 million euro claim over withdrawn CEO job offer - sources

    MADRID/LONDON (Reuters) - Santander faces a 100 million euro (£90 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.

  • Norway FSA fines Santander bank $1 million for anti-money laundering breach
    Reuters

    Norway FSA fines Santander bank $1 million for anti-money laundering breach

    OSLO/MADRID (Reuters) - Norway's Financial Supervisory Authority has ordered Spanish bank Santander to pay a fine of nine million crowns ($1 million) for violations of the country's anti-money laundering laws, it said on Tuesday. The fine was imposed in relation to violations found at Santander Consumer Bank in Norway, the regulator said in a letter dated June 28 and published on its website on Tuesday. A failure in the bank's electronic monitoring system meant that some 1.6 million transactions, affecting around 300,000 customers, were not controlled for money laundering between Oct. 30, 2014 and Dec. 6, 2018, the letter said.

  • Santander to pay one billion euros to end insurance accord with Allianz Group
    Reuters

    Santander to pay one billion euros to end insurance accord with Allianz Group

    Spain's largest lender Banco Santander said on Monday it will pay almost 1 billion euros (£892.6 million) 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 for Allianz Group's 60% stake in Allianz Popular which distributed insurance products for Banco Popular in Spain.

  • Santander to pay 1 billion euros to end insurance accord with Allianz Group
    Reuters

    Santander to pay 1 billion euros to end insurance accord with Allianz Group

    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.

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