Latest news with #TSB
Yahoo
a day 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
CTV News
2 days ago
- CTV News
Teen struck and killed by small plane that crashed into boat dock in Lake Scugog
Durham police are investigating after a plane crashed into Lake Scugog on July 18, 2025. A teenager is dead after being struck by a plane that crashed into a boat dock in Lake Scugog Friday afternoon. Police said a small plane crashed near the community of Caesarea at around 12:25 p.m. Images from the scene show the aftermath of the crash, with the plane upside down resting on top of a pontoon boat. Plane crash Police tape surround a boat dock where a plane crashed in Lake Scugog on Friday, July 18, 2025. (CTV News) Durham police said the pilot and the passenger of the plane were taken to a local hospital with minor injuries. The cause of the crash is unknown. Police said the Transportation Safety Board of Canada (TSB) has been notified and will take over the investigation. In a deployment notice, the TSB confirmed that it was sending a team of investigators to the scene to 'gather information and assess the occurrence.'
Daily Record
2 days ago
- Business
- Daily Record
Santander to close current account used by hundreds of thousands of customers
The bank is closing one of its accounts very soon and have set out what customers should expect to happen next One high street bank has undergone a lot of changes recently. In the last few months alone, Santander has struck a £2.65 billion deal to acquire rival TSB, a move that would make it the UK's second-largest bank by personal current account balances and raise concerns over future job cuts and high street branch closures. In a significant shake-up, the banking giant also declared plans to axe 95 branches which got underway in June, attributing the decision to a swerve in customer preference towards online banking over in-person services. But there is one more change afoot. Santander is set to discontinue a favoured current account, leaving hundreds of thousands of customers affected next month. The banking giant is shutting down its 123 Lite current account. This account provides up to three per cent cashback on household bills for a £2 monthly fee. The accounts will stop come August 21, 2025, meaning Scots are just over a month out from seeing the switch-out take place in real time. Those impacted by the closure will be automatically transferred to Santander's Everyday Current Account. A spokesperson told Birmingham Live: "Following a review of our 123 Lite Current Account, which was last on sale to new customers in November 2022, and to simplify our product range, we have decided that now is the right time to withdraw the account." Customers have been sharing their reaction online. On Reddit, one said: "I figured this was coming given they haven't offered those accounts to new customers for a while now. Wondering for myself if it's worth opening a new Edge current account to keep getting cashback or just cashing in and getting a switch bonus from another bank?" Another customer expressed their reasons for staying with Santander, writing: "The only things keeping me were the 123 cashback and the fact I have a branch nearby. 123 being pulled and local branch being closed." They concluded: "Time to take advantage of a switch offer." Meanwhile, a third customer evaluated the new offering and found it lacking, reasoning: "I ran the estimate to see what the edge account would give me. It was about £1 a month, so I don't think I'll bother." Santander states that if you wish to continue using your account following the changes, no action is required on your part. Nevertheless, you do have a couple of alternative choices available. You may be eligible to move to a different Santander account. If you decide to transfer, you can retain your current account details including the account number and debit card. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. You can shut or switch your account free of charge. "We're a member of the Current Account Switch Service, which offers a secure and easy way to switch your account to another bank in 7 working days," Santander explained. "You can find more information through the CASS website."
CTV News
4 days ago
- General
- CTV News
Float plane crash lands in Prince Edward County: OPP
An Ontario Provincial Police crest is pictured on an officer's uniform. (Supplied) Two people were rescued without injuries after a float plane crashed landed in Prince Edward County, Ont. Wednesday afternoon. Ontario Provincial Police say the crash happened on East Lake in the Flakes Cove area, about 50 kilometres south of Belleville, at approximately 12:30 p.m. Prince Edward County Fire and Rescue used a boat to rescue the occupants, who had managed to get out of the plane and onto a wing, police say. Police say an increased presence of police and first responders will be seen in the area this afternoon. The Transportation Safety Board (TSB) has been notified of the incident. The cause of the crash is unclear.
Daily Record
6 days ago
- Business
- Daily Record
TSB launches new monthly prize draw offering five-day trip to Canada
The top prize includes flights, airport transfers, four-star hotel accommodation in Toronto and Niagara Falls plus meals and tourist excursions. TSB personal current account customers can now opt into a new prize draw for the chance to win a trip to Toronto and Niagara Falls in Canada or £300 Red Letter Day vouchers. The prize draw will run for six months, with at least 28 winners announced each month. To be eligible, customers must have a TSB current account and opt into the prize draw by completing the prize draw entry form on the TSB website. Customers only have to opt in once to be eligible for the prize draw every month. Customers will need to make five debit card payments in the calendar month for entry to the prize draw in the following month. For example, customers need to make five debit card payments in July to be eligible for the August draw. Customers will also receive additional entries for each additional five debit card payments, up to a maximum of four entries per month. Winners: Toronto and Niagara Falls City Break For the first three prize draws, TSB is giving away nine Canadian city breaks for two to Toronto and Niagara Falls. Winners will be picked at random from all eligible customers each month - in August, September and October. The prize includes: Return flights from London to Toronto, Ontario - with private roundtrip transfers in Canada (Airport-Toronto-Niagara-Airport). 3 nights in Toronto, and 2 nights in Niagara Falls - with luxury (4 star minimum) hotel accommodation, including breakfast, based on sharing a double/twin room. 3-course dinners at popular restaurants in Toronto and Niagara, up to the maximum value of £75 per person, including service charge. A 4-hour Toronto highlights tour, including guided driving tour, Toronto Harbour Cruise, and skip-the-line tickets to attractions. 4-hour Niagara Falls tour, including hotel transfers, expert guide, and admission to all areas. Runners Up: £300 Red Letter Day vouchers For the first three prize draws, TSB is also giving away 75 £300 Red Letter Day vouchers. Each month 25 winners will be picked at random from all eligible customers - in August, September and October. The runner-up prizes can be exchanged for over 5,000 experiences including: Spa breaks Supercar track days Indoor skydiving West End theatre tickets Overnight country escapes Iconic football stadium tours Hot air balloon flights Commenting on the new incentives, Surina Somal, Everyday Banking Director at TSB, said: 'Summer is off to a scorching start and TSB is delighted to kick off the holiday period with this new prize draw for customers. We're always looking for new ways to reward our loyal customers and this is just one example of TSB doing exactly that.' What else you need to know Here's a brief overview of the terms and conditions, full details can be found on the TSB website here. Customers must be 18 or over and live in the UK. Terms and conditions apply. Customers only need to register once to be entered into each monthly draw. There will be three further prize draws in November 2025, December 2025 and January 2026, with prizes to be announced in September 2025. Prize draws will take place by the 20th of each prize draw month. Winners will be notified within 10 days of the draw taking place. Runners up will be notified within 45 days of the draw taking place.
