Banco Santander (BSBR) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Santander-Chile and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
BBC News has seen a string of complaints about leading banks from customers unable to get any money.
Banks in the UK are investigating whether they pressured corporate clients into giving them extra business in return for loans, after the country’s financial watchdog warned against the practice during the coronavirus pandemic. Lenders including Barclays, Deutsche Bank, HSBC and Santander are conducting internal reviews to find out whether any of their investment bankers tried to link emergency financing to more lucrative services, according to people familiar with the matter. Last month the Financial Conduct Authority sent an unusually strongly-worded letter to the heads of UK lenders after receiving “credible reports” that some were abusing their lending relationships with struggling clients to strong-arm them into buying other services, while negotiating new or existing debt facilities.
SANTIAGO, Chile, March 31, 2020 -- You are cordially invited to participate in Banco Santander Chile's (NYSE: BSAC) conference call-webcast on Wednesday, April 29, 2020 at.
The Board of Directors of Santander Chile, in its extraordinary session held today, proposed to reschedule the Annual Shareholder’s Meeting for Thursday, April 30, and propose a new dividend distribution proposal in order to multiply its capacity to support clients during the Coronavirus crisis contingency. The President of the Board of Directors of Santander Chile, Claudio Melandri, explained that with this decision, and taking into account the economic contingency derived from Covid-19 pandemic, the Board decided to see what mechanisms were available to supports its clients. “All of the analysis on a global scale agree that the present situation requires renewed efforts from everyone involved so individuals, SMEs and companies in general, can count with the necessary support to ensure the continuity of their activities; and in Santander Chile that is what we have decided to do.”
BSAC earnings call for the period ending March 31, 2020.
Shares of Banco Santander (NYSE:BSBR) rose 13% after the company reported Q1 results.Quarterly Results Earnings per share fell 8.33% year over year to $0.11.Revenue of $2,585,000,000 lower by 26.44% year over year.Outlook Banco Santander hasn't issued any earnings guidance for the time being.View more earnings on BSBRRevenue guidance hasn't been issued by the company for now.Price Action Company's 52-week high was at $12.85Company's 52-week low was at $4.00Price action over last quarter: down 52.33%Company Profile Banco Santander (Brasil) SA is part of Santander Group, a Spanish bank present also in Brazil, Mexico, Argentina, and Chile. The bank's operations are divided into two major divisions: commercial banking, which includes retail activities, such as personal and small and medium enterprises; and wholesale, focused on large companies and operations in the capital market. The bank has commercial, investment, credit, and financing operations and also exchange, mortgage lending, leasing, credit cards, and securities brokerage. Its operations are in Brazil and internationally.See more from Benzinga * Morning Market Stats in 5 Minutes * Stocks That Hit 52-Week Lows On Friday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Reportedly written by the bank's head of innovation, the missive warned that a large chunk of the Spanish incumbent's profits were at risk -- specifically, those generated via international money transfers – because of the growing success of fintech challengers, such as London-headquartered TransferWise. Fast-forward three years, and today Santander is launching a standalone money transfer app, presumably in a bid to avoid the trappings of innovator's dilemma. The new proposition is open to Santander and non-Santander customers and has been developed by a team working largely outside of the bank -- a startup within a multi-national corporation, if you will -- and has grown to around 50 team members working across Madrid, London, and Brussels.
Moody's Investors Service ("Moody's") has today changed to negative, from stable, the outlook on the ratings of Banco de Chile, Banco Santander-Chile (Santander), Banco del Estado de Chile (Banco Estado) and Itaú CorpBanca (Itaú). At the same time, Moody's downgraded the standalone baseline credit assessments (BCAs) of Banco de Chile and Santander to baa1, from a3, respectively, and downgraded Banco de Chile's global local and foreign currency subordinated debt ratings to (P)Baa2, from (P)Baa1.
Let's see if Banco Santander (BSBR) stock is a good choice for value-oriented investors right now from multiple angles.
SANTIAGO, Chile, April 30, 2020 -- Santander Chile had its Annual Shareholder’s Meeting today, held remotely to minimize physical contact due to the COVID-19 spread. Among the.
The Dallas-based lender was accused of writing car loans it knew would have “an unacceptably high probability of default”. The listed company is majority owned by Spain’s Banco Santander. Among the allegations are claims Santander’s “aggressive pursuit of market share” led it to turn “a blind eye to dealer abuse”, such as falsified information about the financial health of borrowers.
(Bloomberg) -- Banco Santander SA reported the highest provisions by a bank in continental Europe so far this quarter as it attempted to put a number on potential loan losses caused by the coronavirus outbreak.Santander is holding back 1.6 billion euros ($1.7 billion) specifically for losses linked to the virus. Total provisions jumped to a record 3.9 billion euros in the first quarter, causing net income to plunge 82% to 331 million euros, the bank said in a statement.Provisions have become the key focus of this year’s earnings season, with banks trying to estimate the impact of the global economic lockdown on its customers. Santander has spent most of the past decade cleaning up its balance sheet after Spain’s housing market collapsed in 2012, souring billions of euros of loans.Like many competitors, Santander was reluctant to set specific targets going forward as uncertainties remain over the virus’s impact and government economic relief efforts.“We will review our strategic targets once we have a more complete understanding of the full impact of the crisis,” Chairman Ana Botin said in an emailed statement. “However, we are confident in the fundamentals of our business model and the pillars of our strategy remain unchanged.”Santander fell as much as 1.5% in Madrid trading and was down 0.6% at 1.96 euros as of 9:04 a.m. The stock has slumped about 48% this year, compared with the 41% decline of the STOXX Europe 600 Banks Index.Latin AmericaSantander already had the highest provisions of any European bank due to its exposure to emerging markets such as Brazil and Mexico as well as to its sub-prime auto loan business in the U.S. Provisions increased to the highest level in five years in the fourth quarter, mainly due to Europe, where the lender has struggled with low interest rates. The amount set aside tripled at its consumer finance unit and doubled in the U.K. in the last three months of 2019.The coronavirus, which hit Spain in the second half of March, had little impact on first-quarter earnings. Underlying profit rose 8% from a year earlier to 2 billion euros, once again showing major differences between lender’s stronger and weaker international markets. The Americas, Brazil and the U.S. posted solid profit in their own currencies while European units once again lagged behind.The U.K. continued to be a trouble spot for the group, with underlying profit falling 27% due to lower income from lending and fees.Earnings gave some indication of the new order for business in the coronavirus crisis. New mortgage lending fell 60% and new consumer loans dropped 25% in April compared with February. On the other hand, corporate loans and lending to small-and medium-sized enterprises rose 100% in the same period.HSBC Holdings Plc on Tuesday reported it will take its biggest charge for bad debt in almost nine years, reporting provisions of $3 billion in the first quarter. Last week, UniCredit SpA increased provisions by 900 million euros while Credit Suisse Group AG set aside more than double what analysts estimated, reserving $1 billion to cover for the impact of the virus. Deutsche Bank AG on Sunday said it made about 500 million euros of provisions, pushing its total to the highest in six years.(Updates with chairman’s comments in fifth paragraph, details of provisions, earnings after Latin America subheadline)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
SAN earnings call for the period ending March 31, 2020.
Santander
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Banking giant Santander's quarterly net profit dived by 82% as it set aside 1.6 billion euros ($1.7 billion) to cover expected loan losses caused by the COVID-19 pandemic. The euro zone's second-largest bank by market value, after BNP Paribas, reported a net profit of 331 million euros for the first quarter that ended in March. Excluding extraordinary provisions, which also included 46 million euros of restructuring costs in Europe, Santander's underlying quarterly profit rose 1% to 1.98 billion euros.
Let's see if Banco Santander (SAN) stock is a good choice for value-oriented investors right now from multiple angles.
SANTIAGO, Chile, April 29, 2020 -- Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) announced today its unaudited results1 for the three month period ended March 31, 2020.