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Santander rejected NatWest's £11bn bid for its UK retail bank, deeming it too low, and has since raised €7bn from selling a stake in its Polish unit, making a UK sale less likely. The Spanish lender is shifting focus to the Americas, reducing its UK operations amid high costs and weaker returns.
Banco Santander is selling a 49% stake in its Polish banking unit, Santander Polska, to Erste Group for €6.8bn, alongside a 50% share in its asset management business for an additional €0.2bn, totaling €7bn. The deal, expected to close by the end of 2025, will allow Santander to retain 13% of the Polish unit and aims to enhance strategic cooperation in Corporate & Investment Banking and payment services. Santander plans to return €3.2bn to shareholders through buybacks, contributing to a broader goal of up to €10bn in the coming years.
Banco Santander reported a 19% increase in Q1 2025 net profit to €3.4bn, driven by improved operational efficiency and record net fee income of €3.37bn. The bank confirmed its 2025 targets, with a CET1 capital ratio of 12.9% and plans for €6.3bn in total shareholder remuneration, including dividends and share buybacks.
Santander reported a 19% increase in Q1 net profit to 3.4 billion euros, surpassing forecasts, driven by strong performance in Spain and the U.S., despite declines in Brazil and Mexico. The bank remains focused on its 2025 profit goals while closely monitoring market uncertainties, with a diversified strategy aiding resilience. Net interest income fell 5% year-on-year, but efficiency improved, and the bank is on track to meet its full-year revenue target of around 62 billion euros.
UBS has lost its position as the most valuable bank in continental Europe, overtaken by Spain's Banco Santander after a significant drop in its share price, which fell 14% since US tariffs were imposed on April 2. Santander's market capitalization reached approximately 91.3 billion euros, while UBS's fell to about 85.7 billion euros. Analysts attribute UBS's underperformance to its heavy reliance on the US market and ongoing regulatory debates in Switzerland, contrasting with Santander's strong stock performance, which has risen over a third since January.
Santander reported strong Q1 results, with executive chair Ana Botín expressing confidence in increasing profitability by 2025 despite challenges from recent US tariff announcements. Speculation about the bank's future in the UK has grown following a significant drop in profits and the upcoming resignation of the UK chairman, although Botín denied any plans to exit the market. The bank's transformation strategy, ONE Transformation, aims to enhance customer experience and operational efficiency amid a challenging global economic outlook, projected to grow at just 3.1% over the next five years.
Santander's CEO, Ana Botin, has expressed concerns regarding the uncertainty stemming from trade tensions. She highlighted that these tensions could impact global economic stability and the banking sector's performance. Botin's remarks underscore the need for clarity in international trade relations.
Santander anticipates profit growth in Q1 2025, projecting a return on tangible equity of 15.7% and a CET1 ratio of 12.9%, while reaffirming its full-year goals despite global economic uncertainty. The bank's revenues are expected to reach €62 billion, with stable credit quality and a focus on efficiency through its "ONE Transformation" plan. Shareholders will vote on a final cash dividend of 11 euro cents per share and the re-election of key board members, as Santander continues to navigate economic challenges and enhance growth.
Ana Botín, chairwoman of Santander, has called for European banks to utilize their capital buffers to invest in the defense sector amid rising geopolitical tensions. She emphasized the urgent need for Europe to rearm and suggested that releasing these funds could significantly boost private investment in defense, which has been historically limited. Botín's remarks highlight a shift in perspective on financing defense, urging a reevaluation of regulatory frameworks to support this critical area.
Ana Botín, executive chair of Santander, emphasizes the transformative impact of AI and automation on society, advocating for a new social compact to address economic disparities. Her disciplined routine mirrors that of an Olympic athlete, balancing a demanding career with family life while promoting innovation and smart risk-taking in banking. Santander's recent success, marked by significant profits and a growing customer base, reflects her leadership in navigating a complex financial landscape.
Ana Patricia Botin
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