SAN - Banco Santander, S.A.
| Previous close | 2.5100 |
| Open | 2.5300 |
| Bid | 2.5200 x 312600 |
| Ask | 2.5300 x 36900 |
| Day's range | 2.4900 - 2.5450 |
| 52-week range | 1.9000 - 4.7000 |
| Volume | 3,672,521 |
| Avg. volume | 9,094,239 |
| Market cap | 41.869B |
| Beta (5Y monthly) | 1.48 |
| PE ratio (TTM) | 5.24 |
| EPS (TTM) | 0.4820 |
| Earnings date | 25 Jan 2017 - 01 Feb 2017 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 30 Oct 2019 |
| 1y target est | 3.35 |
- Yahoo Finance UK
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Who will be the next Lloyds CEO?
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- Bloomberg
Santander Braces for Potential Capital Hit on Covid Loans
(Bloomberg) -- Banco Santander SA is facing a potential hit to its capital levels in the second quarter after it boosted lending to businesses hurt by the Covid-19 outbreak, a setback to its stated aim to meet the top end of its target range.The lender’s key CET1 ratio, a key measure of capital strength, could decline even after the lender gets an expected a 20-25 basis-point boost from the easing of capital requirements by European regulators, a person with knowledge of the matter said without being more specific.Spain’s largest bank has long faced criticism from investors for trailing its European peers on financial buffers, though it argues that its model is more resistant to stress. The virus crisis and Santander’s decision to participate heavily in a state-backed loan program to small businesses makes its goal to increase the CET1 ratio to the upper end of its target of 11% to 12% this year more challenging. It stood at 11.58% as of March 31.The bank is expecting another boost of 10-20 basis points to its CET1 ratio by the end of the year through a measure that allows lenders to include software investments as part of their capital, the person said, asking not to be named because the information is private.The relief from regulators should stop capital from falling any further and Santander will probably begin building up its buffers again in the second half, the person said. Chief Financial Officer Jose Garcia Cantera told investors at a Goldman Sachs Group Inc. conference in June that the bank is maintaining its objective of having capital levels near 12% by the end of the year.Santander declined to comment.Santander shares fell on the news and were trading down 2.8% as of 4:33 p.m. in Madrid. The stock has declined 39% this year, compared with a 45% drop by the STOXX Europe Banking Index.The European Central Bank has told lenders to dip into their capital cushions to keep lending flowing during the pandemic. It has also allowed them to use subordinated debt to help meet a key measure of financial strength, which lowers their minimum requirement for common equity. On top of that, the ECB is giving banks more time to address deficiencies such as dealing with their stock of bad loans or improving their risk models.Europe ContributesMeasures adopted by the European Union include deferring higher requirements for banks’ leverage ratios by one year to January 2023. The measure is the ratio between the bank’s capital and its exposures.Santander has been one of the most active banks in Spain’s Covid-19 lending program, in which the government is backing 100 billion euros ($112 billion) of loans. The bank expects to have lent 32 billion euros under the plan by the time the current guarantees are exhausted, the person said. It had 84.5 billion euros of outstanding loans to Spanish SMEs in March.Santander made 1.6 billion euros of provisions in the first quarter specifically for losses linked to the virus, while total provisions jumped to a record 3.9 billion euros, causing net income to plunge 82%, the bank said in April.Spain’s loan program was deployed in tranches, allowing the government to make tweaks as it went along. Spanish companies had received 85.2 billion euros in financing as of July 1. The government has been guaranteeing 80% of loans to SMEs and 70% to large companies with the banks assuming the risk for the remainder.The government last week pledged an additional 40 billion euros in so-called ICO loan guarantees to inject more funds into struggling Spanish companies.Santander has lent above its market share. It was assigned about 27% of the final 28 billion tranche of ICO loans, the person said. That compares to a market share of 25% on SME loans.(Updates with details of comments by CFO in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Hedge Fund Fighting Over Spain’s Top Paper Gets Close to Sanchez
(Bloomberg) -- A power struggle for Spain’s best-selling newspaper is coming to a head and Prime Minister Pedro Sanchez will be watching closely.Founded at the birth of Spanish democracy in the 1970s, El Pais has traditionally supported Sanchez’s Socialists but has had a tense relationship with the new brand of left-wing politics pursued by the current premier.Sanchez has said publicly that the paper’s publisher, Prisa, was involved in the maneuvers that saw him ousted as party leader in 2016. El Pais’s editorial page has attacked him repeatedly since his return to power for ignoring the advice of party elders who say his deals with Catalan separatists and the far-left group Podemos gift legitimacy to dangerous rivals.Now, it seems, Sanchez could catch a break. Prisa’s biggest shareholder wants to break up an old boys’ network club that is critical of the premier and still seen as pulling strings at El Pais.Joseph Oughourlian, founder of London-based hedge fund Amber Capital, is ready to vote to have Prisa Chairman Javier Monzon removed at a shareholders’ meeting on Monday, according to people familiar with his thinking speaking on condition of anonymity.Sanchez’s closest advisers have been keeping tabs on the situation as the ballot approaches. Oughourlian has met with Sanchez since the prime minister took office -- both are 48, born the same month -- and he’s developed a close relationship with at least two people in the premier’s inner circle, according to a person who knows them both.A more sympathetic stance from the paper of national record could help a premier wrestling with the country’s worst recession in at least 70 years as he tries to maintain his balance atop a shaky coalition.Spain is not alone in having a paper of choice take political sides, and having an outsize influence in shaping the public’s thinking on issues that can sway elections. Fox News, owned by billionaire Rupert Murdoch, is closely aligned with Donald Trump. In the U.K., Brexit was shaped by euroskeptic publications such as The Sun tabloid and the conservative The Telegraph.The same kind of ideological divisions are present in all the major publications in Germany, Italy and France. In Spain, however, it’s reached a boiling point.Oughourlian, who controls 29.8% of Prisa, has come to consider that Monzon is too close to Banco Santander SA and that he uses El Pais to pursue the bank’s political interests, the people said. While Monzon is an independent board member who was endorsed by Oughourlian and the rest of the board when he became non-executive chairman in January 2019, he was nominated by Santander and combines his role at Prisa with other non-executive posts as chairman of Santander’s online unit Openbank and a board seat at the bank’s Spanish unit.Santander’s financial influence at the publisher also goes way beyond its 4.1% stake. It’s one of the highly leveraged company’s main creditors and helped two other key shareholders with a combined 12.6% to finance their investments.Oughourlian and Sanchez’s director of communication Miguel Angel Oliver declined to comment when contacted by Bloomberg, as did spokespeople for Prisa, Santander and Monzon.The Old GuardAt the heart of the dispute is a fight between the Spanish establishment and a new generation of leaders dealing with the legacy of the boom and bust years: a younger generation that missed out economically, a resurgence of the nativist far-right and question marks over the future of Catalonia.Old-school executives like Emilio Botin at Santander and Juan Luis Cebrian at Prisa amassed fortunes during the 1980s and 1990s under the Socialist administration of Felipe Gonzalez that opened up Spain after the Franco dictatorship. But that model, which involved close ties between government and business, came crashing down a decade ago in the financial crisis.The country today is divided and adrift. Tensions are on display in the streets, where people are angrily protesting the government’s handling on the pandemic, and in company board rooms where executives worry what kind of concessions Sanchez will make to separatists and his anti-capitalist allies.It’s also reflected in the feud between Sanchez and Prisa, which first blew up in 2016 after two consecutive elections produced no clear majority. Sanchez’s original sin with the Socialist old guard was his refusal to step aside and let the center-right People’s Party govern after his efforts failed to forge an unlikely coalition with centrist pro-business Ciudadanos and anti-establishment Podemos.Attack BackfiresWith Gonzalez helping to shape the newspaper’s coverage from his position on Prisa’s editorial advisory board and open attacks on Sanchez, El Pais rallied internal opposition to the party leader from its opinion pages. Sanchez resigned after losing the backing of the party’s federal committee and, in a television interview at the time, accused Prisa of trying to undermine him.Cebrian, who was Prisa chairman at the time, said that blaming “the press” for a party decision was “stupid” and “petty.”Sanchez returned the following year to reclaim the party leadership and became prime minister in 2018.The mutual distrust remains.When Sanchez forged a second-term coalition with Podemos in January and promised to bring back protection for workers, many in the establishment feared their business interests were under threat. And the fact that the minority government also relied on votes from separatist parties stirred up old suspicions among more traditional socialists who identify more with Gonzalez and worry about the Catalan challenge to Spain’s territorial unity.Sanchez was asked about the rift with his predecessor in an interview published Sunday in La Vanguardia, Catalonia’s best-selling daily. He said, “I listen to all the former prime ministers with full attention, but the social and political conditions in our country today are very different from what they were 40 years ago.”Shake UpThen along comes Paris-born Oughourlian, who like the embattled prime minister is also an outsider to the Madrid elite and has argued that Prisa has been mismanaged for years. The investor has poured about 300 million euros ($336 million) into Prisa since 2015 and brushes aside reports that he is acting as a front man for Spanish investors who want to take control of the publisher.His fund pursues an activist strategy by engaging with executives and Oughourlian makes the case that El Pais should have a bigger profile throughout the Spanish-speaking world and textbook publisher Santillana, the company’s largest source of revenue, should deliver more money to investors.There are already signs that change is coming. Telefonica SA Chairman Jose Maria Alvarez-Pallete toyed with the idea of naming an ally of Sanchez and Oughourlian to the Prisa board, according to two people familiar with his thinking. That would have been a major reversal for the company’s second-biggest shareholder. Pallete has been trying to keep Telefonica out of politics. A spokesman for Telefonica declined to comment. Oughourlian has already dealt with one of Sanchez’s enemies when he led a push to force out Monzon’s predecessor, Cebrian, in 2017. But he’s still not satisfied with the way the company is being run.On Monday he’ll have another chance to put that right. The results will be announced around lunchtime.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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SUPV vs. BSBR: Which Stock Should Value Investors Buy Now?
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- Reuters
Orcel's €112 million claim against Santander in court September 14
A Madrid court will start preliminary proceedings on Sept. 14 for a lawsuit brought by Italian banker Andrea Orcel against Santander <SAN.MC> over the bank's withdrawal of an offer to make him CEO, a court spokesman said on Thursday. Orcel, one of Europe's most famous bankers, is suing the Spanish bank for 112 million euros (£101 million), claiming breach of contract. "The preliminary hearing is scheduled for September 14 at 11.00 am, when technicalities such as what procedural evidence or which potential witnesses can be accepted will be decided as part of the case," the court spokesman said.
- Yahoo Finance UK
Fintech Zopa set to launch first banking products
Zopa has been granted a full banking licence with no restrictions, allowing it to launch its fixed savings account and credit card to the public later this year.
- Reuters
Santander's U.S. unit to close offices on June 19 commemorating Juneteenth
June 19 commemorates the U.S. abolition of slavery by President Abraham Lincoln's Emancipation Proclamation, which was belatedly announced in the state of Texas on June 19, 1865, after the end of the Civil War. "This year, Juneteenth is especially moving as our nation wrestles with inequities and injustices that have persisted throughout its history, with renewed urgency," Santander Holdings Chief Executive Officer Tim Wennes said in a statement.
- Fool.co.uk
Forget the Santander share price! I’d buy this FTSE 100 dividend champion
The Santander share price has plunged as the bank's profits have slumped. With further pain on the horizon, this FTSE 100 stock could be the better buy.The post Forget the Santander share price! I'd buy this FTSE 100 dividend champion appeared first on The Motley Fool UK.
- Reuters
Santander to hire 3,000 IT professionals worldwide this year
Spain's Santander bank said on Thursday it would hire 3,000 IT professionals worldwide this year to support its digital transformation and improve efficiency, at a time when lenders are focusing on cutting costs. About 1,000 of the new hires will be in Spain, with a particular focus on individuals with a background in science, technology, engineering and mathematics. Santander said the recruits would be in areas including security and operations, artificial intelligence, software development and cybersecurity.
- Yahoo Finance UK
Challenger banks trounce high street rivals on international payments
The cost of sending £100 to a US bank account ranged from completely free to almost £30 — a third of the cash being sent.
- Reuters
Santander agrees to $550 million U.S. settlement over subprime auto loans
Santander Consumer USA Holdings Inc <SC.N> said on Tuesday it had agreed to make changes to its underwriting practices as part of a $550 million (448.7 million pounds) settlement with 33 states and the District of Columbia over subprime auto loans. The states said Santander violated consumer protection laws by placing borrowers with subprime credit into auto loans it knew carried a high probability of default. Santander has agreed to pay $65 million for restitution for some customers and to waive deficiency balances on loans worth $478 million.
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Should Value Investors Pick Banco Santander (BSBR) Stock?
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- Reuters - UK Focus
Lobby calls on EU for extra capital easing to help banks lend more
A banking lobby group called on Tuesday for the European Union to further soften a capital measure to ensure banks do not run out of headroom to help companies hit by the coronavirus crisis. The Association for Financial Markets in Europe (AFME) said the European Central Bank (ECB) has estimated that such measures will free up 120 billion euros ($131 billion) to support 1.8 trillion euros of additional lending. "The question is are these changes going to be sufficient to furnish banks with enough capacity to provide the support to their customers that is going to be needed in the coming downturn, let alone the recovery?" Michael Lever, head of prudential regulation at AFME, said in a blog post.
- Yahoo Finance UK
Coronavirus: Firms struggling to receive £50k bounce back loan
Business owners feel let down by leading banks as they struggle to access £50,000 bounce back loans.
- Reuters
Santander hires HSBC executive as regional head of Europe
Santander <SAN.MC> on Tuesday announced the appointment of Antonio Simoes, head of global private banking at HSBC <HSBA.L>, as its regional chief for Europe, one of the Spanish bank's three big geographical regions. Simoes joins Santander from the HSBC, where he has led a number of businesses over the past 13 years in London and Hong Kong, at a time when the Spanish bank is focused on cost cuts in Europe. "Antonio will join the bank on Sept. 1, subject to regulatory approval, and will have managerial responsibility and oversight of the bank's businesses in Europe with reporting lines from the country heads of Spain, Britain, Portugal and Poland," Santander said in a statement.
- Yahoo Finance UK
COVID-19 pandemic could cost UK banks £25bn
Fitch Rating said the UK's five biggest banks would likely set aside billions of pound more to cover losses as the year progresses.
- Yahoo Finance UK
Government-backed coronavirus interruption loans hit £5.5bn
New figures show an additional £1.4bn has been lent under the scheme over the last week.
- Reuters - UK Focus
UK banks' lending to COVID-19-hit firms rises to 5.5 bln pounds
British banks' lending to firms hit by the coronavirus under the government's main loan guarantee scheme for small and medium-sized firms has risen to 5.5 billion pounds ($6.8 billion) from 4.1 billion pounds last week, industry data showed on Thursday. Regulators and politicians have criticised banks for the slow pace of lending under the Coronavirus Business Interruption Loan Scheme (CBIL), which is 80% guaranteed by the taxpayer. UK Finance, the trade body for lenders, said its members had approved 33,812 of the 62,674 completed loan applications they had received as of May 6.
- Yahoo Finance UK
Coronavirus: Banks approve £2bn 'Bounce Back' loans in first 24 hours
The banks received over 130,000 applications for ‘Bounce Bank’ loans on Monday alone.
- Yahoo Finance UK
Santander 123 account labelled a 'dead duck' as rate hits new low
Martin Lewis, founder of MoneySavingExpert.com, is urging customers to switch to banks offering better rates
- Reuters - UK Focus
Bank of England says banks can exclude Bounce Back loans from leverage rules
The Bank of England said it will allow banks to exclude state-backed small company loans made under Britain's new emergency coronavirus Bounce Back credit scheme from leverage rules, removing a possible disincentive for banks to lend. "The PRA (Prudential Regulation Authority) is offering a modification by consent for banks subject to the UK Leverage Ratio Part of the PRA Rulebook to exclude loans under this scheme from the leverage ratio total exposure measure, if they choose to do so," the BoE said in a statement.
- Simply Wall St.
Should We Worry About Banco Santander, S.A.'s (BME:SAN) P/E Ratio?
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll apply a basic...
