Latest news with #BancoSantander
Bloomberg
4 hours ago
- Business
- Bloomberg
Genworth Expects to Collect $750 Million on UK PPI Court Ruling
Genworth Financial Inc. expects to receive about $750 million after a UK court found Banco Santander SA liable for losses it suffered in relation to the mis-selling of payment protection insurance policies before 2005. The policies were sold by GE Capital Bank, which the Spanish lender acquired in 2009. They were underwritten by two units of Genworth that were sold to Axa SA in 2015. On Friday, a UK court said Santander was liable for Axa's losses linked to those policies and awarded it about £680 million ($911 million), the firms said in statements Friday.
Yahoo
7 days ago
- Business
- Yahoo
£10,000 invested in Santander shares 5 years ago is now worth…
It has been a fantastic five years for Banco Santander (LSE:BNC) shareholders. The Spanish bank stock is up 216% over this time, turning every £10,000 invested back then into £31,600. On top of that, there has been a steady flow of rising dividends since they resumed in 2021 (payouts were paused during the pandemic). Including those, the five-year total return rises to almost £34,000! Lovely. Solid operational results Santander's net interest income — the profit made from core lending and borrowing activities — has been supercharged by higher interest rates in the UK, US, Europe, and parts of Latin America. In 2024, the bank posted a net profit of €12.57bn, up 14% year on year. The momentum continued in Q1 2025, with profit up 19% to €3.4bn (or 10%, excluding a one-off gain). Strong net interest income in Spain and Mexico offset weaker margins in Brazil and the UK. Return on tangible equity — a key profitability metric — rose to a healthy 15.8%, while capital buffers remained strong with a CET1 ratio of 12.9%. The bank also continued share buybacks, and it remains on track to buy back at least €10bn worth of its own shares in 2025 and 2026. Finally, the company added 9m new customers in the quarter, bringing the total worldwide to a whopping 175m. UK expansion That number will likely increase further, because in July, Santander announced the £2.65bn acquisition of TSB from Sabadell. Once completed, the two banks will serve nearly 28m retail and business customers nationwide. Earnings per share are projected to increase immediately, before adding around 4% by 2028. And the lender expects to generate at least £400m in annual pre-tax cost synergies. The acquisition further strengthens Santander's position in one of its core markets, expanding its customer base and lending capacity across the UK. This acquisition will see Santander become the third-largest bank in the UK by personal current account balances, and number four in the mortgage market. Latin America opportunity One thing I like is Santander's positioning in Latin America, where millions of previously unbanked people are joining the financial system through digital accounts. Yet while demand for credit cards, personal loans, and small business financing has exploded, credit penetration is still relatively low versus developed markets. So there's a long runway for growth ahead, which Santander is well-placed to benefit from. Nevertheless, it's still the case that Latin America remains a volatile region. Currency swings, economic instability, and high inflation can weigh on reported earnings. There's also mounting competition from nimble digital banks like Nubank (Nu Holdings), Mercado Pago (MercadoLibre), and Revolut. So Santander will have to work hard to stay competitive. Should I buy Santander stock? Despite its strong share price run, Santander looks reasonably valued to me. The stock trades at just 8.2 times forward earnings. That said, the dividend yield sits around 3.4%, which is lower than FTSE 100 banks like Lloyds (4.9%) and HSBC (5.5%). I already have HSBC shares in my portfolio for income, as well as fintechs Nu and MercadoLibre for growth in Latin America. I'm not going to add Santander to the mix too. However, the stock is reasonably priced, so investors might want to consider Santander for their own portfolios. The post £10,000 invested in Santander shares 5 years ago is now worth… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool HSBC Holdings is an advertising partner of Motley Fool Money. Ben McPoland has positions in HSBC Holdings, MercadoLibre, and Nu Holdings. The Motley Fool UK has recommended HSBC Holdings, Lloyds Banking Group Plc, MercadoLibre, and Nu Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
17-07-2025
- Business
- Yahoo
Banco Santander, S.A. (SAN) Boosts UK Presence With TSB Bank Acquisition
Banco Santander, S.A. (NYSE:SAN) is among the 13 Best Booming Stocks to Buy Now. On July 1, the company announced that it had reached an agreement to acquire a 100% stake in TSB Banking Group plc in an all-cash transaction for £2.65 billion, subject to approval from Sabadell's shareholders. A view of a large corporate office building, illuminated at night to show its power and reach. The acquisition will bolster the Spanish lender's presence in the UK, with an inflow of approximately 5 million TSB customers, who keep around £35 billion in deposits. The combined entity will enable Banco Santander, S.A. (NYSE:SAN) to become the third-largest bank in the country by personal current account balances. The takeover comes at a time when Banco Santander, S.A. (NYSE:SAN)'s UK business is booking subpar profits compared to its overall returns. Earlier this year, Reuters reported that the bank was reviewing its presence in the country, with a pullback being among the options. Ana Botín, Banco Santander, S.A. (NYSE:SAN)'s executive chair, stated the following on the acquisition: 'The acquisition of TSB represents a continuing strategic commitment to our customers in the UK, offering a compelling opportunity that is financially attractive to our shareholders and aligned with Santander's long-term objectives. It strengthens our franchise in a core market through the acquisition of a low-risk and complementary business that adds to our diversification.' Banco Santander, S.A. (NYSE:SAN) is a Spanish multinational financial services company, offering services such as deposits, mutual funds, current and savings accounts, loans, and various other financing solutions. The stock has returned 99% so far in 2025. While we acknowledge the potential of SAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best German Stocks to Invest in Now and Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17-07-2025
- Business
- Bloomberg
Goldman Leads Purchase of About €460 Million of Santander Loans
By and Esteban Duarte Save Goldman Sachs Group Inc. agreed to buy about €460 million ($534 million) in Spanish mortgages from Banco Santander SA, according to people familiar with the matter. The US bank is acquiring the loans along with other investors, including Pacific Investment Management Co., some of the people said. All asked not to be named discussing private information.
Business Insider
17-07-2025
- Business
- Business Insider
Barclays Reaffirms Their Buy Rating on Banco Santander (BNC)
Barclays analyst Cecilia Romero maintained a Buy rating on Banco Santander on July 15 and set a price target of €8.20. The company's shares closed yesterday at p619.00. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Romero covers the Financial sector, focusing on stocks such as Banco Santander, Banco Comercial Portugues, and Banco de Sabadell. According to TipRanks, Romero has an average return of 21.8% and an 80.56% success rate on recommended stocks. In addition to Barclays, Banco Santander also received a Buy from Goldman Sachs's Chris Hallam in a report issued on July 14. However, on July 11, J.P. Morgan maintained a Hold rating on Banco Santander (LSE: BNC). BNC market cap is currently £93.13B and has a P/E ratio of 8.60. Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock.
