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Banco Santander (Brasil) SA reported a record profit of $3.4 billion for Q1 2025, a 19% increase from the previous year, supported by strong customer activity and a robust CT1 capital ratio of 12.9%. However, loan loss provisions rose by 7% due to a challenging macro environment, and expenses grew by 6%, highlighting the need for ongoing cost management. The bank is exploring a potential sale of a 49% stake in Santander Polska and aims to complete 80% of its digital transformation by year-end.
Banco Santander (Brasil) SA reported a record profit of $3.4 billion for Q1 2025, a 19% increase from the previous year, alongside a strong CT1 capital ratio of 12.9%. Despite challenges such as increased loan loss provisions and rising expenses, the bank plans to distribute up to $10 billion to shareholders through buybacks. The company is also exploring a potential sale of a 49% stake in Santander Polska while focusing on organic growth and digital transformation.
In 2024, Europe's top bankers are earning record salaries, led by Sergio Ermotti of UBS at 15.4 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros. Other notable figures include Christian Sewing of Deutsche Bank at 9.8 million euros and Hector Grisi of Santander at 8.3 million euros. These high earnings are driven by substantial bank profits, despite rising interest rates, while discussions in Switzerland about limiting executive pay could impact future compensation dynamics.
In 2024, Sergio Ermotti, CEO of UBS, topped the list of Europe's highest-paid bankers with a salary of 15.6 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros, marking a 32% increase. The average salary for CEOs of the top 10 European banks was 7 million euros, driven by exceptional profits from rising interest rates. Despite the substantial compensation, criticism arose regarding the high pay of bank executives, prompting Unicredit to defend Orcel's salary increase as essential for long-term commitment in a competitive market.
Sergio Ermotti, Chairman of UBS, topped the list of highest-paid bankers in Europe for 2024, earning 14.9 million francs. Following him is Unicredit's Andrea Orcel with 13.2 million euros, and Deutsche Bank's Christian Sewing at 9.8 million. Many banks benefited from rising interest rates, leading to increased profits and remuneration.
In 2024, UBS CEO Sergio Ermotti topped the list of Europe's highest-paid bankers with earnings of €15.6 million, followed by UniCredit's Andrea Orcel at €13.2 million, marking a 32% increase. Deutsche Bank's Christian Sewing rounded out the top three with €9.8 million. The surge in salaries is attributed to significant bank profits and rising stock prices.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among European banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel received the largest raise, bringing his total to 13.2 million euros, while Deutsche Bank's Christian Sewing followed with 9.8 million euros. Other notable figures include Santander's Hector Grisi at 8.3 million euros and BBVA's Onur Genc at 7.3 million euros, with the lowest compensation reported at 2.6 million euros for Credit Agricole's Philippe Brassac.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among Europe's largest banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel followed with a significant raise to 13.2 million euros, while Deutsche Bank's Christian Sewing earned 9.8 million euros. Many banks benefited from rising interest rates, leading to increased profits and higher compensation for executives.
Christiana Riley has been appointed CEO of Santander US, succeeding Tim Wennes, as part of a global restructuring aimed at simplifying the bank's operations. Santander is eliminating its regional divisions and focusing on five global units to enhance growth, particularly in the U.S. market, where it aims to expand its digital banking services. Additionally, Andres Trautmann will take over as CEO of Banco Santander Chile.
Santander has significantly expanded its US investment banking operations, increasing staff from 900 to about 1,300, largely through hiring former Credit Suisse bankers. The firm has focused on leveraged finance, completing 110 deals this year, and aims to enhance its market position while maintaining its culture. Despite upfront costs and a recent pretax loss in the US arm, the investment bank has become a crucial revenue contributor, accounting for nearly 14% of the group"s income.
Hector Grisi
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Banco Santander Brasil reports record profits and plans significant shareholder returns
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