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Banco Santander SA (SAN)

SAN on New York Consolidated

5.12USD
9 Dec 2016
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$-0.08 (-1.54%)
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Latest Key Developments (Source: Significant Developments)

Poland's BZ WBK sees profit rise in 2016 before one-offs, tax
Wednesday, 27 Jul 2016 02:00am EDT 

Bank Zachodni WBK : Poland's third largest lender by assets, Banco Santander unit BZ WBK, expects to post net profit rise this year excluding one-offs and a newly implemented bank tax. . "Regarding 2016 results we believe we will deliver growth, outperforming the sector, excluding one-offs, bank tax and other things," BZ WBK acting CEO Gerry Byrne told news conference. Further company coverage: [BZW.WA] (Reporting by Marcin Goclowski; Writing by Adrian Krajewski) ((adrian.krajewski@thomsonreuters.com;)).  Full Article

Spain's Santander says H1 net interest income 15.2 bln eur
Wednesday, 27 Jul 2016 01:15am EDT 

Spain's Santander : Says first half attributible net profit was 2.911 billion euros ($3.20 billion) . Says second quarter ordinary net profit was 1.6 billion euros . Says second quarter net interest income was 7.6 billion euros . Says first half net interest income was 15.2 billion euros . Says fully-loaded core tier 1 capital ratio was 10.36 percent at end-June versus 10.27 percent end-March . Says return on tangible equity (ROTE) was 11.09 percent at the end of June versus 11.1 percent in end of March . Says non-performing loans were 4.29 percent at the end of June versus 4.33 percent end-March . Says it keeps its target to increase cash dividend by 10 percent in 2016, total dividend by 5 percent .Says it is on track to meet fully-loaded core capital end-of-2018 target of above 11 percent.  Full Article

Santander Consumer USA says appoints William Rainer as board chairman
Tuesday, 12 Jul 2016 06:15am EDT 

Santander Consumer USA Holdings Inc - : Santander Consumer USA Holdings announces appointment of William Rainer as board chairman .Blythe Masters has resigned from board to take on a new role with Banco Santander, S.A. as group senior advisor on blockchain.  Full Article

S&P - Various U.K. Bank outlooks revised due to potential economic deterioration following Brexit vote
Thursday, 7 Jul 2016 09:33am EDT 

S&P : S&P - Various U.K. Bank outlooks revised due to potential economic deterioration following Brexit vote . S&P - Revised to negative from stable the outlooks on Barclays PLC and Barclays Bank Plc (including its core subsidiaries) . S&P - Revised to stable from positive our outlook on U.K.-Based NOHC The Royal Bank Of Scotland Group PLC (RBSG) . S&P - Affirmed the long- and short-term counterparty credit ratings on Santander UK Group Holdings PLC . S&P - Affirmed the long- and short-term counterparty credit ratings on Standard Chartered PLC and its rated bank subsidiaries . S&P - "Revised view based on outcome of the Brexit Vote, which we expect will reduce consumer confidence and the demand for credit in the near term" . S&P - See UK banks' strengthened capital, liquidity, funding profiles provide flexibility to manage extended period of economic , market uncertainty . S&P - "Believe that the U.K. economy is now entering a correction phase" Source - http://bit.ly/29qhzUN (Bengaluru Newsroom; +1 646 223 8780).  Full Article

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

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U.S. regulator to fail Santander on community lending: sources

WASHINGTON A U.S. bank regulator is poised to fault Spanish lender Banco Santander SA for doing too little to reach poor neighborhoods and will fail the bank on a test of community lending, according to sources familiar with the situation.