Banco Santander

Banco Santander purchased GE Money Bank, GE Money Bank, GE Capital's consumer finance business in Sweden, Norway and Denmark, for 700 million euros ($950 million) in 2014.

GE Money Bank

Banco Santander SA is a banking services company, which engages in the provision of banking services to individuals, companies, and institutions. It operates through the following segments: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking, Wealth Management & Insurance, Payments, and Corporate Centre. The Retail & Commercial Banking segment integrates the retail banking business (individuals) and commercial banking (SMEs and corporates), except for the consumer finance and the cards businesses. The Digital Consumer Bank segment includes Santander Consumer Finance, which incorporates the entire consumer finance business in Europe, Openbank, and ODS. The Corporate & Investment Banking segment includes Markets, Investment Banking (Global Debt Finance and Corporate Finance) and Global Transactional Banking, offers products and services on a global scale to corporate and institutional customers, and collaborates with other global businesses to better serve broad customer base. The Wealth Management & Insurance segment includes the asset management business (Santander Asset Management), the corporate unit of Private Banking and International Private Banking in Miami and Switzerland and the insurance business (Santander Insurance). The Payments segment involves in the digital payment's solutions, providing global technology solutions for banks and new customers in the open market. The Corporate Centre segment includes the centralized activities relating to equity stakes in financial companies, financial management of the structural exchange rate position. The company was founded on March 21, 1857 and is headquartered in Madrid, Spain.

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Banco Santander is a Spanish bank but it generates most of its income outside of Spain. About 15-20% of the annual net income is generated in the United States.

Banco Santander: Collateral Damage While Shareholder Payouts Should Increase In 2023

Filing of Form 20-F  SÃO PAULO, Feb. 28, 2023 /PRNewswire/ -- Banco Santander (Brasil) S.A. ("Santander Brasil") announces that its Annual Report on Form 20-F (the "20-F"), reporting its financial and operational data for 2022, was filed with the U.S. Securities and Exchange Commission, or the SEC, and with the Brazilian Securities and Exchange Commission, the Comissão de Valores Mobiliários, or CVM, on February 28, 2023.

BANCO SANTANDER (BRASIL) S.A.: NOTICE TO THE MARKET

Banco Santander (LSE:BNC) SA said on Tuesday it intends to increase pay-outs to shareholders to 50% of profits from 40% as the lender laid out plans for higher profitability and growth alongside full-year results. The Spanish bank which bought UK building society Abbey National in 2004 is targeting a return on tangible equity of 15-17% for the next three years (2023- 2025), while delivering double-digit average annual growth in tangible net asset value per share plus dividend per share through the cycle.

Santander intends to return half of profits to shareholders as details plan for growth

Banco Santander SA SAN, +2.08% said Tuesday that it would boost the proportion of profit distributed to shareholders to 50% in the next three years from 40% in 2022 through both cash dividends and share buybacks in new targets that include increasing customers by 25%.

Santander to raise payout policy to 50% from 40% in next three years

Many of the financial companies I've been positive about for the past few years have gone firmly into overvalued territory. This includes European banks. One of the exceptions to this pattern is Santander, a Spanish bank I've been writing about a few times over the past few years.

Santander: A Bank With Still-Existing Upside

Santander UK has warned that macroeconomic challenges in the United Kingdom could impact credit quality. In its 2022 results announced on Thursday (Feb. 2), Santander UK revealed that it put aside 321 million pounds last year to cover potential defaults, compared with 233 million pounds in 2021.

Santander Prepares for Rising Defaults as BoE Raises Interest Rate

BOSTON--( BUSINESS WIRE )--Santander Bank, N.A. announced today it has raised its prime rate from 7.50% to 7.75%, effective February 1, 2023.

Santander Bank Raises Its Prime Rate to 7.75%

Banco Santander SA (NYSE:SAN ) Q4 2022 Earnings Conference Call February 2, 2023 4:00 AM ET Company Participants Begona Morenes - IR Ana Botin - Group Executive Chairwoman Hector Grisi - Group CEO & Group Director Jose Garcia-Cantera - Senior EVP & Group CFO Conference Call Participants Francisco Riquel - Alantra Ignacio Olmos - UBS Ignacio Ulargui - BNP Paribas Exane Alvaro Serrano - Morgan Stanley Carlos Cobo Catena - Societe Generale Andrea Filtri - Mediobanca Benjamin Toms - RBC Capital Markets Daragh Quinn - KBW Marta Sánchez Romero - Citigroup Sofie Peterzens - JPMorgan Chase & Co. Begona Morenes Good morning, everybody, and welcome to Banco Santander's conference call to discuss our financial results for the fourth quarter of 2022. Just as a reminder, both the results report and presentation we will be following today are available to you on our website.

Banco Santander SA (SAN) Q4 2022 Earnings Call Transcript

Santander set aside £321mln for mortgage repayment defaults in 2022 as the bank braces for housing prices to fall back. In 2023, a 10% fall in house prices is expected by the Spanish bank, driven by growing interest rates and a 1.3% shrinking of the UK economy.

Santander readies itself for UK house price plunge

Santander posts forecast-beating profit, revenue, upbeat on 2023

Santander on Thursday said its 2022 net profit rose 18% to a record 9.6 billion euros ($10.6 billion) on higher lending, though results were overshadowed in the fourth quarter as provisions more than doubled on economic uncertainty.

Santander books record 9.6 bln euro profit for 2022 but Q4 provisions up

DALLAS , Jan. 27, 2023 /PRNewswire/ -- Santander Consumer USA Inc. ("Santander Consumer") today announced that Betty Jotanovic will assume the role of President of Chrysler Capital and Auto Relationships, reporting to Bruce Jackson who was recently named head of the Santander US Auto business and CEO of Santander Consumer.  In this capacity, Jotanovic will be responsible for, among other things, all aspects of Santander Consumer's Chrysler Capital and Auto Relationships.

Betty Jotanovic Is Named President of Chrysler Capital and Auto Relationships at Santander Consumer

Spain's Santander is the only major bank operating in Germany that has not announced a special payment to local staff to help them with soaring inflation, union officials told Reuters, although the bank said talks were ongoing.

Santander lagging behind on inflation payment for German bank staff

Global Payments

Santander Bank said it's working with Global Payments on a card offering for corporate clients. In a LinkedIn post on Wednesday (Jan. 4), Santander said that starting in early 2023, its U.S. commercial banking clients will be able to utilize the corporate payment card issued through TSYS, a Global Payments-owned card issuer.

Santander and Global Payments Team on Commercial Bank Card

BOSTON--( BUSINESS WIRE )--Santander Holdings USA, Inc. (“Santander” and “Santander US”) today announced that, effective March 2023, Bruce Jackson will assume the role of head of the Santander US Auto business and CEO of Santander Consumer USA Inc. (“Santander Consumer”), reporting to Santander US CEO, Tim Wennes. Jackson succeeds Mahesh Aditya who is taking on the role of Banco Santander's Group Chief Risk officer in Madrid, subject to customary regulatory approvals.

Bruce Jackson Is Named Head of the Santander US Auto Business and CEO of Santander Consumer

BOSTON--( BUSINESS WIRE )--Santander Holdings USA, Inc. (“Santander” and “Santander US”) today announced the completion of the sixth cohort of Santander's Cultivate Small Business, which served 97 entrepreneurs and awarded $300,000 in capital grants to eligible graduates. The cohort's graduates are the program's first from the Dallas, Miami and Philadelphia markets. The program also operates in Massachusetts, New Jersey and New York.

Santander US Cultivate Small Business Program Completes Sixth Cohort with $300,000 in Grants to Entrepreneurs

BOSTON--( BUSINESS WIRE )--Santander Bank, N.A. announced today it has raised its prime rate from 7.00% to 7.50%, effective December 14, 2022.

Santander Bank Raises Its Prime Rate to 7.50%

The FCA has fined Santander over 107.7 million pounds ($132.2 million) for AML failures. In announcing the penalty, the Financial Conduct Authority (FCA) said Santander “failed to properly oversee and manage” its anti-money laundering (AML) systems between Dec. 31, 2012 and Oct. 18, 2017.

Santander Hit With $132M Fine for AML Failures

The UK arm of Spanish banking group Banco Santander has been fined £107.79mln by the Financial Conduct Authority (FCA) after the regulator found “serious and persistent gaps” in the bank's anti-money laundering (AML) controls, affecting its business banking customers.  Over a period of almost five years, from end-2012 to mid-October 2017, Santander UK failed to properly oversee and manage its AML systems, which significantly impacted the account oversight of more than 560,000 business customers, the FCA said in a statement.

Santander UK fined £107mln by financial regulator FCA for anti-money laundering failures

According to the FCA, Santander UK PLC has failed to properly oversee and manage its AML systems between December 2012 and October 2017, which affected the account oversight of more than 560,000 business customers.

Santander U.K. fined $131.4 million for anti-money-laundering failures

Britain's Financial Conduct Authority said it had fined Santander 107.7 million pounds ($132 million) for "serious and persistent" gaps in the Spanish bank's anti-money laundering controls for more than 560,000 business customers.

UK watchdog fines Santander $132 mln over anti-laundering controls

Banco Santander generates almost 70% of its income outside of Europe. The earnings remain strong, and the bank has a shot at a full-year EPS of 0.55 EUR per share.

Banco Santander: Trading At 5x Earnings And A 35% Discount To Its TBV

BOSTON--( BUSINESS WIRE )--Santander Bank, N.A. today announced the expansion of its Commercial Equipment and Vehicle Finance business to include commercial equipment financing to healthcare organizations. The new, nationwide offering will provide financing for state-of-the-art medical technology and equipment to hospitals and health systems, out-patient clinics, and specialized providers.

Santander Bank Offering Healthcare Equipment Financing as Part of Commercial Finance Expansion

BOSTON--(BUSINESS WIRE)--Santander Bank, N.A.

Santander Commercial Banking Appoints Two New Leaders

Banco Santander (LSE:BNC) is ready to block all UK customers from sending real-time payments to cryptocurrency exchanges as part of measures to protect customers from scams, according to an emailed statement. Starting from November 15, payments to crypto exchanges will be limited to £1,000 per transaction with a total limit of £3,000 in any rolling 30-day period.

News for Banco Santander Stock (SAN)