Latest news with #AnaBotin
Times
09-05-2025
- Business
- Times
Fresh twist for Santander as NatWest takeover bid revealed
The future of Santander's UK division has been thrust back into the City spotlight after it emerged that NatWest tried to buy the business for about £11 billion this year. The takeover approach was rejected by the Spanish banking giant for being too low and talks between the two sides are no longer active, the Financial Times reported. Even so, the bid underscores NatWest's growth ambitions as the taxpayer-backed lender approaches full reprivatisation. • Santander UK to close 95 branches with 750 jobs at risk It also comes after Santander was forced to deny speculation in January that it was reviewing its presence in the UK, with Ana Botin, the group's executive chairman, insisting that Britain 'will remain a core market' for the business.
Irish Independent
29-04-2025
- Business
- Irish Independent
AIB's former Polish subsidiary valued at €14bn in new deal
Erste and Spain's Santander Bank announced the talks in separate statements on Monday, confirming an earlier Bloomberg News report. The deal would see Erste acquiring a 49pc stake in Santander Bank Polska for around €7.3bn, based on the most recent stock price. That would value the bank – which under a previous name, Bank Zachodni, was majority owned by Ireland's AIB – at more than €14bn. The Irish bank was forced to sell its 70pc stake in its Polish subsidiary in 2011 to allay state aid concerns raised by its own €21bn bailout. AIB sold that stake for €3.1bn to Santander, which then bought up the remaining shares in the Polish bank and bolted on Kredy Bank, another Polish lender acquired from KBC Group, to create Santander Bank Polska. It is not clear if the talks will lead to an agreement, and completion of any transaction would be subject to closing conditions, the banks said. Santander said it had 'received interest from several parties'. Since AIB sold its stake in 2011, the Polish economy has been on a strong growth trajectory, boosting the value of the bank. Shares of Erste fell as much as 4.7pc in Vienna on news of the deal. Santander Bank Polska shares also declined. Under the proposed terms, Erste would effectively gain control of the Polish lender as its largest single shareholder despite not having a majority holding, people familiar with the matter said. ADVERTISEMENT By buying less than 50pc, Erste will avoid triggering a mandatory tender for the remaining shares in the bank. A deal between Vienna-based Erste and Spain's biggest bank would be one of the largest banking transactions in Europe in recent years. The deal would deliver on Erste Group chief executive officer Peter Bosek's ambitions to expand into Poland, made public after his return to Vienna last year from Luminor Group. Erste serves more than 16 million customers across seven European countries, making it one of the largest banks in central and eastern Europe. It currently operates a brokerage in Poland. Santander Bank Polska is Poland's third-largest lender with about 7.5 million customers. It posted record net income last year, and its shares are at an all-time high. A sale of much of Santander's stake in the Polish bank would be one of the biggest moves under executive chair Ana Botin to shift the strategic focus away from Europe. It could allow her to expand in other markets and potentially use proceeds for acquisitions or to help fund buybacks. The Spanish lender announced in February it intends to buy back €10bn of its shares over the next two years using excess capital and earnings. Any transaction would require regulatory approval from the European Central Bank and the national banking authorities. That would likely be granted given that it is a deal within the European Union and wouldn't create a dominant market position or any other distortions, some of the people said.
Bloomberg
04-04-2025
- Business
- Bloomberg
US Tariffs to Hit US More Than Europe in Short Term, Botin Says
The tariffs put in place by the Trump administration will likely hit the US economy more than Europe, Banco Santander SA Executive Chair Ana Botin said on Friday. 'What's happening will impact the US more than Europe in relative terms,' Botin said at the bank's annual general meeting. 'Obviously, European growth will be less — it was forecast to be below the US — but now the downside adjustment will be less than for the US. That is our forecast.'
Wall Street Journal
04-04-2025
- Business
- Wall Street Journal
Santander Confirms Guidance After First-Quarter Growth
Santander said it expects to report growth for the first quarter of 2025 and confirmed its guidance for the year. The Spanish bank should deliver a return on tangible equity of around 15.7% for the first three months and is on track to reach its 16.5% target for the year, it said in a statement ahead of its annual general meeting on Friday. This compares with 15.5% RoTE for 2024, according to a spokesperson. The lender's common equity Tier 1 ratio–a key measure of capital strength–should come in at 12.9% for the period, a touch under its 13% view for the year, it added. 'We maintained the positive trend seen in previous years by growing customers, with revenues expected to remain flattish and costs to decrease in current euros compared to the same period last year,' Chair Ana Botin said. Santander targets around 62 billion euros ($68.54 billion) in revenue for 2025 with a fall in costs and stable cost of risk. The bank's markets remain resilient, Botin said, referring to this week's U.S. tariff announcements and escalating trade tensions. 'The employment data–which is the cornerstone of asset quality–is very good,' she said. Write to Elena Vardon at
Yahoo
03-04-2025
- Business
- Yahoo
Santander secures banking licence in Canada
Spanish lender Banco Santander has received a banking licence in Canada, marking a step in its strategy to expand operations across the Americas. The Office of the Superintendent of Financial Institutions (OSFI), Canada's banking regulator, issued an order last month allowing Santander Consumer Bank to "commence and carry on business," as reported in a recent government publication, reported Bloomberg. A spokesperson for Santander confirmed the acquisition of the Canadian banking licence but did not provide further details regarding future plans in the country. The Spanish bank has been actively hiring in the US and has launched a digital banking service in both the US and Mexico as part of its regional growth strategy. Chairwoman Ana Botin stated last month that the company's emphasis will "continue to be more on the Americas." Santander has maintained a presence in Canada for over 10 years, having acquired the car-financing firm Carfinco Financial Group. The bank applied in July 2019 to become a Schedule II bank, which allows foreign banks to operate as Canadian subsidiaries. These subsidiaries can engage in the same banking activities as domestic banks, such as accepting deposits, issuing loans, providing wealth management services, and offering credit cards. Last year, Canada's Minister of Finance issued letters patent to incorporate Santander Consumer Bank as a federally regulated financial institution, with OSFI approval being the final requirement. The Canadian subsidiary, located in Edmonton, Alberta, employs nearly 300 staff and reported revenue of €76m ($82m) in 2024. Santander has previously stated that it will retain the head office of its new bank in Edmonton. In February this year, Banco Santander denied reports of a potential sale of its UK retail business following claims of discussions with NatWest. "Santander secures banking licence in Canada" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
