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Santander reported a record net profit of 3.4 billion euros ($3.9 billion) for the first quarter of 2025, a 19% increase from the previous year, surpassing analyst expectations. Executive chairwoman Ana Botin highlighted strong customer growth and improved operating efficiency across global businesses.
Sir Tom Scholar, the former Treasury chief dismissed by Liz Truss, is poised to become the new chairman of Santander UK, pending regulatory approval. His appointment comes amid speculation about the bank's future, including potential mergers, although Santander's group executive chair has indicated the UK remains a core market. Scholar, respected for his role during the 2008 financial crisis and the COVID-19 furlough scheme, will collaborate with CEO Mike Regnier if confirmed.
Santander's Executive Chair Ana Botin expressed concerns over the uncertainty from U.S. trade tariffs, which could impact the economy and inflation, particularly in the U.S. However, she emphasized the bank's geographical diversification as a stabilizing factor. Despite recent share declines, Botin reaffirmed the bank's commitment to growth in the U.S. and the UK, while maintaining a focus on organic growth and evaluating future opportunities.
Santander's Executive Chair Ana Botin highlighted the uncertainty from U.S. trade tariffs but maintained a profit forecast for 2025, emphasizing the bank's diversification as a stabilizing factor. Despite a recent drop in bank shares, Santander reported strong performance in the U.S. and Latin America, with a projected return-on-tangible-equity ratio of 16.5% for 2025. Shareholders are expected to approve significant remuneration and buybacks, alongside the re-election of Botin and CEO Hector Grisi.
Santander reported a continued increase in customer numbers in the first quarter, positioning itself to meet its full-year revenue and profitability goals. The bank aims for approximately 62 billion euros in revenue and anticipates a return-on-tangible-equity ratio of 15.7% for the quarter, with a target of 16.5% for 2025. Executive Chair Ana Botin highlighted the bank's focus on profitability while monitoring recent U.S. tariff developments.
Banco Santander SA has reaffirmed its financial targets for the year despite the market turmoil triggered by President Donald Trump's recent tariff announcements. Chairman Ana Botin emphasized the importance of the bank's diversification during challenging times, highlighting its resilience in the face of economic uncertainty.
Banco Santander has secured a banking licence in Canada, allowing Santander Consumer Bank to commence operations as part of its strategy to expand in the Americas. The Office of the Superintendent of Financial Institutions approved the licence, enabling the bank to engage in various banking activities. With a presence in Canada for over a decade, the Edmonton-based subsidiary employs nearly 300 staff and reported revenue of €76m ($82m) in 2024.
Banco Santander has secured a Canadian banking license, enhancing its expansion efforts across the Americas. The Office of the Superintendent of Financial Institutions granted approval for Santander Consumer Bank to begin operations, with further plans in Canada yet to be disclosed. The bank continues to grow in the US and Mexico, focusing on digital banking initiatives and workforce expansion.
Ana Botin, chair of Santander, has called on EU authorities to allow banks to utilize capital buffers for investments in the defence sector, highlighting the urgent need for Europe to bolster its military capabilities amid rising geopolitical tensions. She emphasized that releasing these buffers could unlock hundreds of billions for private sector investment, urging a shift in the regulatory framework to support defence financing, which has historically been minimal in Spain. Botin's remarks follow a broader call for Europe to enhance its independence in defence and complete its banking union.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
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Santander reports record first quarter profits amid economic challenges
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santander uk considers sir tom scholar for chairman position amid speculation
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