Santander´s worrying exposure to Mexico Strong Results. Strong BUY. SP fair value should be 340p-350p. Spanish banking group Santander reported a 35% rise in net profits for the fourth quarter. Profits hit €2.78bn (£2.35bn), boosted by its key market in Brazil. For the year, however, profits fell to €12.5bn from €14.2bn in 2018. Santander said it saw a “slowing economic environment” in 2019 but it said uncertainty would be reduced by easing trade tensions between the US and China and following the general election in the UK in December.
Santander´s worrying exposure to Mexico Up 5% today. Results tomorrow
Santander´s worrying exposure to Mexico Wolf Street – 3 Sep 19 Bank of Mexico Raises Alarm About Mexico’s Economy “Particularly worrisome” is that this slowdown “has taken place in a context where the US economy is growing above potential.”
2018 results press Find the 2018 results press release pressing the link below: [link] Santander attributable profit for 2018 reaches €7,810 million - up 18% In the fourth quarter alone, attributable profit was up 34% to €2,068 million, compared to Q4 2017 The Group has achieved its target of increasing earnings per share by double digits in 2018 with EPS increasing to €0.449, up 11.2% compared with 2017. DL
Search back on for Global CEO at Santander Madrid 15 January 2019 ‐ PRESS RELEASE Following a board meeting today, the Grupo Santander Board announces that Andrea Orcel’s appointment to the role of Group CEO will not proceed. The Board of Santander made the decision to appoint Andrea Orcel in September 2018. In light of his seniority, along with regulatory, legal and contractual considerations, an early announcement of the appointment was necessary, subject to the usual conditions, including a six‐month garden leave. At that time, the Board of Santander had agreed the terms of his annual remuneration in his future role at Santander, which were in line with that of José Antonio Álvarez. It was not, however, possible, to determine in advance the final cost of the Group’s share of compensating Mr Orcel for the remuneration awards, made to him by his previous employer, that would have been foregone. The Board therefore proceeded with the appointment on the basis of a considered estimate of the likely cost to Santander, based on advice, precedent and expectations of mitigation, due to the nature of the relationship between the two organizations and the different activities carried out by each institution. In recent months, discussions have been taking place over the terms of Mr Orcel’s departure from his previous employer. It has now become clear that the cost to Santander of compensating Mr Orcel for the deferred awards he has earned over the past seven years, and other benefits previously awarded to him, would be a sum significantly above the Board’s original expectations at the time of the appointment. The Board considers that for Santander to pay this amount to facilitate the hiring of one individual, even one of the calibre and background of Mr Orcel, would be unacceptable for a retail and commercial bank such as Santander. This is particularly so in light of Santander’s values and its responsibilities to its wider stakeholders and the societies in which it operates. As such, it has been decided by the Board that it would not be right to proceed with the appointment. José Antonio Álvarez, who has remained in the role since the announcement and his anticipated transition in March to Chairman of Santander Spain, will continue to serve in this role without change. He will also serve as Vice Chairman of the Board. Rodrigo Echenique, who is due to retire from his current role as Chairman of Santander Spain in March, will remain until a successor is named. Ana Botin, Executive Chairman of the Board said: “Santander is a retail and commercial bank with significant responsibilities to the societies in which it operates. In making this decision we have had to balance the respect we have for all of our stakeholders ‐ the millions of people, customers and shareholders we serve ‐ with the very significant cost of hiring one individual, even one as talented as Corporate Communications Ciudad Grupo Santander, edificio Arrecife, pl. 2 28660 Boadilla del Monte (Madrid). Tel. +34 91 2895211 email@example.com www.santander.com ‐ Twitter: @bancosantander Andrea, by compensating for the loss of a significant proportion of seven years of his past remuneration. The Board and I are certain that this decision, although difficult to take, is the right one. “On a personal note, my colleagues and I were looking forward to working with Andrea. We all wish him every success in the future. “We, as a Group, are fortunate to have José Antonio who has agreed to continue as CEO. I know we will work together as well as we have over the past four years, delivering profitable growth as more and more customers trust us to help them prosper. We will present our strategic update to the market together later this year in what we both believe is an exciting opportunity ahead of Santander.”
Spain´s supreme court at it again Wolf Street – 19 Oct 18 Spain’s Supreme Court Flip-Flops on Mortgage Ruling After Just 1 Day Amid Bank... The now suspended ruling would have cost the banks billions in legal costs, compensation, and reduced margins.
South America, just a tiny problem! Wolf Street – 31 Aug 18 No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets... To diversify from the euro debt-crisis, the biggest Spanish banks pushed deeply into Emerging Markets. Now, six years later, they’re in a new crisis. “Banco Santander, Brazil is by far its biggest market, accounting for 26% of its global operating profits, compared to just 16% for Spain.”
Spanish consumer debt surging! Wolf Street – 2 Aug 18 Consumer Debt Suddenly Surges in Spain, Banks Love it, But Regulators Begin to... Bad habits die hard.
21% drop in share price Time to wake up, matey, no? Have you no knowledge about what is going on in Argentina & Brazil? There are many problems in emerging markets with a strengthening U.S $. Since April alone the U.S $ is up around 9% against curriencies like the € since April (that is historically a big price movement). I have got no knowledge about Santander´s goings on in Venezula, but oil exports have all but collapsed. Turkey, is another looking on the brink of another currency collapse. I the only poster on here to keep citeing Santander´s huge exposure to U.S. car subprime. The average loan here is now 6 years. We will see the year out before another Russian, Far East crisis of the 90´s? The is the reason why Russia, has been relentlessly bilding up its gold reserves ready for another emerging market market debt crisis. Obviously you need lessons with “hot money” & emerging markets. Look at what history has tought you. These things are nothing new.
21% drop in share price It was also on the Hargreaves site, so not only ii. I did out in a limit order just in case… LOL, you never know. DL
21% drop in share price Clitheroekid: BNC share price had tanked by 21% today, Just in case anyone’s still bothering to read these boards has anyone any idea why this has happened? Clitheroe I saw that and raised an eyebrow, but…I only found it on iii so suspected it to be one of their glitches. Anyway, all showing ok today. These boards sure have been deserted - they’re not THAT bad are they?!
21% drop in share price [link]
21% drop in share price II showing just over 21% down. DL
21% drop in share price LSE showing it +0.44% (Up +1.78) that’s the London Stock Exchange. DL