Banco Santander SA (SAN.MC) Key Developments | Reuters.com
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Banco Santander SA (SAN.MC)

SAN.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

Santander chairman says banking industry needs more "clarity" on regulation
Tuesday, 24 May 2016 04:34am EDT 

Chairman of Spain's Banco Santander , Ana Botin: Says at Institute of International Finance (IIF) meeting in Madrid that banking system needs more "clarity" on regulation . Says Britain would be better off if it remains in the European Union but Santander would remain there whatever the outcome of the "Brexit" vote . At same event, Chairman of BBVA , Francisco Gonzalez, says there is no more room for expansionary monetary policy in the eurozone .Gonzalez says only way to boost economy in Europe is through expansion of fiscal policy and Germany should take the lead.  Full Article

Banco Santander SA said planning to cut as many as 1,200 jobs in Spain - Bloomberg - Reuters News
Wednesday, 6 Apr 2016 02:20am EDT 

Banco Santander SA:Banco Santander SA plans to cut as many as 1,200 jobs in Spain as it closes branches and customers switch to online banking, a person familiar with the matter said - Bloomberg.Spain’s largest lender met union representatives Wednesday in Madrid to start talks that could affect as much as 5 percent of the staff in its home market, said the person, who asked not to be identified.About 950 of the job losses will be at branches, while the rest will affect employees at the central services unit, the UGT union said in a statement.The bank will seek to offer employees early retirement and voluntary redundancy, the union said.Santander said last week it plans to close 450 branches, representing about 13 percent of its Spanish network, to boost profitability as it steers customers toward digital banking.Banco Bilbao Vizcaya Argentaria SA, the country’s second-biggest lender, may also reduce its domestic branches, Chief Executive Officer Carlos Torres Vila said Tuesday.  Full Article

Bank of Portugal awards Banco Banif's business to Banco Santander unit for 150 mln euros
Sunday, 20 Dec 2015 07:00pm EST 

Banco Santander SA:Bank of Portugal decided to award Banco Banif's business to Banco Santander Totta, a subsidiary of Banco Santander.Following this decision the businesses and branches of Banco Banif will become part of the Santander group.The transaction will be carried out via the transfer of a part (the commercial banking business) of Banif's assets and liabilities to Santander Totta.Banco Santander Totta will pay 150 million euros for Banco Banif's assets and liabilities.This transaction has an immaterial impact on the Santander group's capital and a slightly positive impact on profit as of year one.  Full Article

Banco Santander SA - Prosecutors seek fund manager fine as Swiss Madoff trial begins - Reuters
Monday, 7 Dec 2015 05:39am EST 

Banco Santander SA:A fund manager accused of negligently funnelling client money to disgraced financier Bernard Madoff before the U.S. money manager's swindle was revealed faced a suspended fine rather than jail time as his trial in Geneva began on Monday - RTRS.Geneva prosecutors have charged Manuel Echeverria, the former head of Banco Santander's SAN.MC Swiss-based unit Optimal Investment Services, with mismanagement with intent to enrich. It carries punishment of up to five years in jail - RTRS.But they sought only a fine of 150,000 Swiss francs ($149,805) suspended for three years in the trial, which is set to run until Friday. Echeverria has denied wrongdoing via his legal team, according to media reports - RTRS.The unit of Santander, which fed billions to Madoff before his scam surfaced, agreed in 2009 to pay $235 million to a U.S. court-appointed trustee to settle the case - RTRS.The Santander settlement payment represented money withdrawn just before Madoff's fraud was revealed in late 2008. - RTRS.The trustee has been seeking the return of funds from big investors to reimburse other victims of the money manager, who used money from new investors to pay existing clients - RTRS.Swiss asset managers were among the biggest investors in Madoff's scheme, with firms based in Geneva particularly hard hit. - RTRS.  Full Article

Banco Santander SA sought to delay news of fine, court says - Reuters
Tuesday, 6 Oct 2015 08:00pm EDT 

Banco Santander SA:Santander was fined 1 million euros ($1.12 million) in June for breaching laws on preventing money laundering and terrorism financing, a Spanish court said on Wednesday, adding the bank had sought to delay news of the sanction getting out - Reuters.Spanish cabinet ministers approved the fine in June, the country's Supreme Court said in a court filing. It did not specify which rules the bank had been found to breach, but said the sanction was linked to a very serious offence - Reuters.The court said it had rejected Santander's request to delay publication of the fine. Such sanctions are usually published in an official state bulletin, although this one had not yet appeared - Reuters.According to the court filing, Santander said the news could hurt its image in the eyes of clients and markets and that there was no reason to publish it immediately - Reuters.It requested that alternatively, news of its appeal should also be made public if the sanction was revealed in the state bulletin - Reuters.The court said it had rejected the bank's request for a delay because announcing the sanction was in the public interest - Reuters.  Full Article

Banco Santander reorganizes ownership structure in Banco Santander Rio SA
Wednesday, 9 Sep 2015 11:39am EDT 

Banco Santander Rio SA:Bancos Latinoamericanos Santander SL, Banco Santander SA and Santander Overseas Bank Inc transfer their entire stakes in the company to Ablasa Participaciones SL.After reorganization Ablasa Participaciones SL, which is directly and indirectly owned by Banco Santander SA, will reach 95.66 pct stake in Banco Santander Rio SA and own 80.71 pct voting rights in the company.Remaining stake of 3.64 pct is owned by BRS Investments SA and 0.70 pct is in the hands of minority shareholders.  Full Article

Banco Santander SA announces selection of Pricewaterhousecoopers Auditores
Tuesday, 7 Jul 2015 02:00am EDT 

Banco Santander SA:Says it has selected PricewaterhouseCoopers Auditores, S.L. to be the external auditor of Banco Santander and of its consolidated Group verifying the annual accounts of the financial years 2016, 2017 and 2018.  Full Article

Banco Santander SA to buy 9.68 pct in Santander Consumer USA Holdings, Inc. from DDFS LLC
Friday, 3 Jul 2015 02:30am EDT 

Banco Santander SA:Signs agreement to buy 9.68 pct in Santander Consumer USA Holdings, Inc. (SCUSA) from DDFS LLC for $928 million.With this operation company reaches 68.7 pct in SCUSA.  Full Article

Banco Santander SA declares FY 2015 interim dividend
Tuesday, 30 Jun 2015 02:20pm EDT 

Banco Santander SA:Declares first FY 2015 interim dividend of 0.05 euro per share payable on August 3.  Full Article

Fidentiis places 8.56 pct of NH Hotels for Banco Santander at 5.10 euros per share
Wednesday, 20 May 2015 01:20pm EDT 

NH Hotel Group SA:Fidentiis Equities SV SA have placed 8.56 percent of NH Hotel Group on behalf of Banco Santander SA at 5.10 euros per share, 153 million euros in total.  Full Article

EU mergers and takeovers (June 16)

BRUSSELS, June 16 The following are mergers under review by the European Commission and a brief guide to the EU merger process: