SAN Stock Recent News

Santander UK has announced a last-minute delay to its third quarter results as it mulls the implications of last week's Appeal Court ruling on motor finance loan commissions. While the rest of the Spanish-owned group published numbers, the UK business said: “It is not practicable to reliably estimate at this point in time the extent of any potential financial impact.

The Polish arm of Spanish lender Santander posted a 27% jump in third-quarter net profit on Tuesday, supported by lower provisions for loans in Swiss francs and higher core revenues.

Spain's Santander said on Tuesday its net profit in the third quarter rose 12% compared to the same period in 2023 thanks to its retail business' solid performance.

Spain's Santander on Monday said its UK unit postponed the publication of its third quarter results set for Oct. 29 after a London court last week ruled that motor finance brokers must fully inform customers about commissions when taking out car loans.

Spain's Santander has kicked off a round of job cuts at its British unit to save costs, Bloomberg reported on Friday citing people familiar with the matter.

Santander Executive Chair Ana Botin discusses the macroeconomic environment, the bank's loan performance and the private credit market. Speaking on "Bloomberg The Close," Botin also says Santander does not need to make a major acquisition.

Spanish lender Santander will have a full service digital bank in the United States by 2025, its executive chairman Ana Botin said on Thursday.

Santander remains undervalued with a strong A+ credit rating and expects 2024 earnings to grow above 15%, outperforming other European banks. The bank's 1H24 results showed significant improvements, including a 20% YoY increase in operating attributable profit and a drop in the C/I ratio to 41.6%. Despite risks in SA geographies and high CoR rates, Santander's operational efficiencies and global scale present a compelling investment opportunity.

Santander's digital banking platform, Openbank, is now officially live in the United States. According to a Monday (Oct. 21) press release, the launch marks a significant expansion of Santander's U.S. consumer banking operations beyond the Northeast, enabling the bank to serve customers nationwide.

Spain's Santander launched its digital bank in the United States on Monday, which will help it to fund over $30 billion of auto lending assets and broaden its retail business in the country, U.S. CEO Tim Wennes told Reuters.