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Wednesday, May 25, 2022
HomeLatest NewsSantander chokes on bills and signs second biggest drop in 2022.

Santander chokes on bills and signs second biggest drop in 2022.

Rise and fall of Banco Santander in the stock market after the presentation of the results. Actions of the subject managing Ana Botin started the session as the most optimistic Ibex, with more than 3% increase this boosted selectivity after the announcement of benefits to 58% higher than a year ago in the first quarter, despite inflation. However, during the session, the price of the bank fell. worsens until it falls by 6.8%, to 2846 euros.

The rest of the banking sector followed this trend, but it was less pronounced, with the exception of Sabadell, which fell 6.7%. Caixabank fell 2.9%, as did Bankinter (-3.1%), while BBVA fell 2.6%. With the exception of Ibex 35, Unicaja also fell 5.3% by close of the session.

Santander announced on Tuesday that it made a profit of 2,543 million euros between January and March this year, almost 60% more than between January and March 2021.when restructuring costs, especially in the UK and Portugal, amounted to $530 million. increase in revenues and increase efficiencyin addition to geographical diversification, once again affected the company’s reporting, which reflects an increase in ordinary profit as a result of commercial activities by 19%.

Analysts at Bankinter stressed that the results beat forecasts thanks to the positive development of some of the most important indicators, such as loan investment or return. Similarly, Renta4 explained that the numbers beat estimates and are overvalued with a target price of €3.99 per share.

During the presentation to analysts of the results for the first quarter of 2022, the CEO of Banco Santander, Jose Antonio Alvarez, confirmed on Tuesday the organization’s interest in Citi’s retail business in Mexico, Banamex, although it indicated the process had not yet begun. When asked about the possible impact of the Banamex purchase on Santander’s dividend policy, the CEO recalled that by 2022, it is expected that distribution of 40% of profits, one half in cash and the other half in share buybacks. In addition, he stated that the bank intends to increase the “payment” to 50% in the future.


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