The transaction is part of the restructuring of the Spanish financial system and will strengthen the Santander brand, which will have 4,000 offices under the same corporate identity
Banesto shareholders will receive Santander shares at a premium of 24.9%
Santander and Banesto customers will benefit from a broader branch network, with access to a wider range of products and coverage for their international needs
The merger will be completed in May next year. The operational and brand integration will be completed in 2013
The merger of the two banks will generate synergies of EUR 520 million in the third year. Cost savings will be generated through the integration of central services and the closure of 700 branches
This document provides an overview of accounting for liabilities. It begins by defining current liabilities and identifying major types like accounts payable, notes payable, unearned revenue, and accrued expenses. It then discusses accounting for notes payable, including example journal entries. The document also explains accounting for other current liabilities like sales tax payable and unearned revenue. It concludes by covering non-current liabilities such as bonds, including why companies issue bonds, types of bonds, accounting for bond issuances and redemptions, and accounting for long-term notes payable.
The document discusses accounting for non-current liabilities such as bonds payable and long-term notes payable. It covers topics such as issuing long-term debt, types of bond issues, valuation of bonds at issuance, accounting for bond discounts and premiums using the effective interest method, and accounting for extinguishment of non-current liabilities.
1) SpareBank 1 Gruppen reported a pre-tax profit of NOK 387.3 million for 2011, down from NOK 985.1 million in 2010, due to weak financial markets and high claims.
2) SpareBank 1 Livsforsikring AS achieved its best result ever in 2011 despite falling markets, maintaining good buffers throughout the year.
3) SpareBank 1 Skadeforsikring Group had a negative insurance result in 2011 due to a high proportion of large claims, floods, and storms.
This document discusses current liabilities and contingencies. It begins by defining a liability and current liability. Typical current liabilities include accounts payable, notes payable, current maturities of long-term debt, short-term obligations expected to be refinanced, dividends payable, customer advances and deposits, unearned revenues, sales taxes payable, and income taxes payable. It also identifies types of employee-related liabilities such as payroll deductions, compensated absences, and bonuses. Additionally, the document explains the classification of short-term debt expected to be refinanced and identifies types of gain and loss contingencies. It concludes by indicating how to present and analyze liabilities and contingencies.
This document discusses current liabilities, provisions, and contingencies under accounting standards. It defines current liabilities as obligations due within one year or the normal operating cycle. Common current liability types include accounts payable, notes payable, income taxes payable, and unearned revenue. Provisions are estimated liabilities of uncertain timing or amount for items like lawsuits, warranties, and environmental costs. Contingent liabilities are possible obligations that are not recognized due to low probability of payment or inability to reliably estimate the amount.
Intermediate Accounting . CH 13 . by MidoCoolMahmoud Mohamed
The document discusses current liabilities and contingencies. It defines current liabilities as obligations due within one year and lists common types like accounts payable, notes payable, income taxes payable. It also discusses classification of short-term debt expected to be refinanced. Contingencies are defined as uncertain gains or losses, with loss contingencies accrued if probable and reasonably estimable. Common contingencies include litigation, guarantees, and environmental liabilities.
Based on the information provided:
Short-term obligation A should be reported as a current liability at December 31, 2010 because Hendricks does not have an unconditional right to defer settlement for at least 12 months after the reporting date.
Short-term obligation B should be reported as a long-term liability at December 31, 2010 because Hendricks intends to refinance the obligation on a long-term basis and has an unconditional right to defer settlement for at least 12 months after the reporting date.
This document provides an overview of accounting for liabilities. It begins by defining current liabilities and identifying major types like accounts payable, notes payable, unearned revenue, and accrued expenses. It then discusses accounting for notes payable, including example journal entries. The document also explains accounting for other current liabilities like sales tax payable and unearned revenue. It concludes by covering non-current liabilities such as bonds, including why companies issue bonds, types of bonds, accounting for bond issuances and redemptions, and accounting for long-term notes payable.
The document discusses accounting for non-current liabilities such as bonds payable and long-term notes payable. It covers topics such as issuing long-term debt, types of bond issues, valuation of bonds at issuance, accounting for bond discounts and premiums using the effective interest method, and accounting for extinguishment of non-current liabilities.
1) SpareBank 1 Gruppen reported a pre-tax profit of NOK 387.3 million for 2011, down from NOK 985.1 million in 2010, due to weak financial markets and high claims.
2) SpareBank 1 Livsforsikring AS achieved its best result ever in 2011 despite falling markets, maintaining good buffers throughout the year.
3) SpareBank 1 Skadeforsikring Group had a negative insurance result in 2011 due to a high proportion of large claims, floods, and storms.
This document discusses current liabilities and contingencies. It begins by defining a liability and current liability. Typical current liabilities include accounts payable, notes payable, current maturities of long-term debt, short-term obligations expected to be refinanced, dividends payable, customer advances and deposits, unearned revenues, sales taxes payable, and income taxes payable. It also identifies types of employee-related liabilities such as payroll deductions, compensated absences, and bonuses. Additionally, the document explains the classification of short-term debt expected to be refinanced and identifies types of gain and loss contingencies. It concludes by indicating how to present and analyze liabilities and contingencies.
This document discusses current liabilities, provisions, and contingencies under accounting standards. It defines current liabilities as obligations due within one year or the normal operating cycle. Common current liability types include accounts payable, notes payable, income taxes payable, and unearned revenue. Provisions are estimated liabilities of uncertain timing or amount for items like lawsuits, warranties, and environmental costs. Contingent liabilities are possible obligations that are not recognized due to low probability of payment or inability to reliably estimate the amount.
Intermediate Accounting . CH 13 . by MidoCoolMahmoud Mohamed
The document discusses current liabilities and contingencies. It defines current liabilities as obligations due within one year and lists common types like accounts payable, notes payable, income taxes payable. It also discusses classification of short-term debt expected to be refinanced. Contingencies are defined as uncertain gains or losses, with loss contingencies accrued if probable and reasonably estimable. Common contingencies include litigation, guarantees, and environmental liabilities.
Based on the information provided:
Short-term obligation A should be reported as a current liability at December 31, 2010 because Hendricks does not have an unconditional right to defer settlement for at least 12 months after the reporting date.
Short-term obligation B should be reported as a long-term liability at December 31, 2010 because Hendricks intends to refinance the obligation on a long-term basis and has an unconditional right to defer settlement for at least 12 months after the reporting date.
This document discusses current liabilities, provisions, and contingencies. It begins by outlining the learning objectives, which are to describe various types of current liabilities, explain classification issues related to short-term debt expected to be refinanced, identify types of employee-related liabilities, explain accounting for provisions, and identify criteria for contingent liabilities and assets. It then defines key terms like liability, current liability, and contingencies. Specific types of current liabilities are explained, such as accounts payable, notes payable, current maturities of long-term debt, and unearned revenue. The accounting treatment and examples of these items are provided.
Unit 11 - Current Liabilities and Contingent LiabilitiesEricaD22
The document discusses current liabilities such as accounts payable, the current portion of long-term debt, and notes payable. It also describes contingent liabilities like product warranties. Companies estimate potential warranty costs based on past experience and record an expense and liability if the warranty obligations are probable and estimable. Journal entries are provided to record estimated warranty expenses and adjustments when warranty work is performed.
The document discusses various aspects of owners' equity, including:
- Owners' equity represents the investment made by owners in a business.
- Statements of owners' equity track the capital contributed and any profits/losses of a business over time.
- Different types of business organizations (sole proprietorships, partnerships, companies) have different structures for owners' equity and liability.
- Companies establish authorized, issued, and paid-up share capital through the issuance of ordinary and preference shares. Reserves are also part of owners' equity.
The document discusses issues related to share capital, including repurchases or buybacks of equity shares by a company. It explains two methods for accounting for share buybacks - the share retirement method and treasury share method. It also covers share dividends, share splits, share rights, and the statement of changes in equity. Several illustrations are provided to demonstrate journal entries for share buybacks and subsequent distributions of treasury shares under each method.
The document is a newsletter for the XLVI Annual Felaban Assembly discussing the strength of Latin American economies despite the ongoing global economic crisis, highlighting countries like Peru, Mexico, Chile, Colombia and Brazil that have seen growth exceed expectations, as well as credit rating upgrades for countries such as Peru, Bolivia, Panama, and Uruguay due to sound economic policies enabling resilience against external shocks.
This document provides guidance on preparing the balance sheet format according to the Companies Act, 1956 and Schedule VI. It discusses the key components of the balance sheet including share capital, reserves and surpluses, non-current liabilities, current liabilities, non-current assets, current assets, and notes on the classification and presentation of items. The document also provides accounting treatments and disclosure requirements for items like share capital, borrowings, investments, provisions, taxation etc. according to Indian accounting standards.
This document discusses the characteristics and accounting treatment of short term investments. Short term investments must be capable of prompt liquidation and there must be management intent to convert them to cash within one year. They include equity and debt securities carried at cost or at the lower of cost or market value. Gains or losses from sales and reclassifications are recognized in income. Disclosure in financial statements includes policies, income amounts, and market values of investments carried at cost.
Working capital management ppt @ bec doms bagalkot Babasab Patil
This document discusses working capital management. It defines key terms like working capital, net working capital, cash conversion cycle and provides examples of how to calculate them. It also discusses determining a company's working capital policy by analyzing its current ratios, inventory turnover, days sales outstanding and comparing to industry averages. The document provides an example cash budget and discusses how a company can minimize its cash holdings and manage accounts receivable, inventory and accounts payable to improve its cash flows and working capital needs.
The revised schedule VI of the Companies Act provides new guidelines for financial statement disclosures. Key changes include:
1. Assets and liabilities must now be classified as current or non-current rather than grouped together.
2. Additional line items are required, such as separate disclosure of share warrants and application money.
3. Components of assets and liabilities must be broken out, for example tangible and intangible fixed assets.
4. Treatment of certain items has changed, such as lease deposits now disclosed as non-current assets and losses shown under 'Surplus' rather than expenditures.
The presentation summarizes key aspects of the revised Schedule VI format for the balance sheet and profit and loss statement introduced by the Ministry of Corporate Affairs for financial years commencing on or after April 1, 2011. Some of the significant changes introduced include distinguishing current and non-current assets/liabilities, limiting information on the face of financial statements to only broad items with details in notes, and removing the balance sheet abstract. Current assets/liabilities are those expected to be realized/settled within 12 months. Examples are provided to illustrate classification of items as current vs non-current.
A corporation has several key characteristics that distinguish it from other business forms:
1. It is a separate legal entity that exists independently of its owners and can act under its own name.
2. Shareholders have limited liability, meaning they are only responsible for the amount invested and not company debts.
3. Ownership is represented by shares that can be freely transferred to other parties.
4. A corporation can exist indefinitely regardless of changes in ownership because it has a legal existence separate from its owners.
The document provides an overview and financial results for AES Corporation for the fourth quarter and full year of 2008. Some key points:
- Full year 2008 operating cash flow and free cash flow met guidance at $2.2 billion each. Subsidiary distributions totaled $1.1 billion.
- Fourth quarter operating cash flow was $579 million and free cash flow was $314 million. Subsidiary distributions were $386 million.
- 2009 guidance forecasts operating cash flow of $2.1-2.3 billion, free cash flow of $1.4-1.6 billion, and subsidiary distributions of $1.1-1.3 billion.
The document summarizes the key changes introduced in the Revised Schedule VI of the Companies Act, 1956 related to financial statements. Some of the major changes include mandatory classification of assets and liabilities into current and non-current, prescription of only vertical format for balance sheet and profit & loss statement, additional line items and disclosures, and classification of expenses by nature in profit & loss statement. The document provides details on the format, headings, classification and disclosure requirements for items in balance sheet, statement of profit & loss and other statements as per the Revised Schedule VI.
Balnce sheet And P & L as per Revised shedule six with exapleAvinash Chavan
This document appears to be a project report submitted by a student named Avinash Chavan for his Master of Commerce program. The report is on the topic of "Balance sheet and Revenue statement Revised Schedule VI with Example". The document includes an introduction, declaration by the student, evaluation certificate, acknowledgements, index, and the beginning of the content on the introduction to revised schedule VI. It provides the format and key changes included in the revised schedule VI regarding preparation of balance sheets and statements of profit and loss in India.
The document is a study guide for the CBSE Board Examination for Accountancy Class XII. It contains instructions for students on how to fill out the exam including writing their code number on the answer booklet. It also provides an overview of the exam structure which has 3 parts: Part A is compulsory and covers Accounting for Partnership Firms and Companies, while students can choose to attempt either Part B or Part C. The document then provides sample questions and answers for Part A of the exam.
This newsletter provides an overview of JDA's revenue accounting team and processes. It introduces new billing team members Jay Pappas and Allyson Barton. It discusses cash receipts exceeding the Q2 target and an increase in days sales outstanding across regions. It also highlights an escalation process and revenue team support matrix to help address any unresolved issues within established service level agreements.
This document discusses ratio analysis and various financial ratios that can be calculated and analyzed for a company. It includes calculations of current and quick ratios, inventory turnover, days sales outstanding, asset turnover ratios, debt ratios, profitability ratios, and market value ratios for the company's forecasted 2005 financial statements. Key ratios are then compared to industry averages to identify areas of strength and weakness for the company.
The City of Oakland Operating Fund is rated 'AAA/V1+' by Fitch Ratings. The 'AAA' rating reflects the high credit quality of the portfolio's assets, which are mainly U.S. government agency securities, as well as a conservative investment policy and appropriate oversight. The 'V1+' volatility rating reflects low market risk and the fund's ability to maintain stable principal value and meet cash needs, even during adverse market conditions. The portfolio has a weighted average maturity of 165 days and is well diversified, exposing it to minimal credit risk.
Tres programas sociales de Banco Santander permiten la inclusión financiera d...BANCO SANTANDER
La inclusión financiera de comunidades desfavorecidas en Latinoamérica es uno de los pilares básicos de actuación de Banco Santander en la región. El programa Santander Microcréditos en Brasil, la cooperativa "La Juanita" en Argentina y el proyecto "Un techo para Chile", son los mejores ejemplos de cómo iniciativas sencillas, personales y justas pueden contribuir al progreso de los países. Los tres responsables para estos planes explicaron hoy en El Escorial la historia de cada uno de ellos y narraron, durante el XIV Encuentro Santander América Latina, los beneficios que han generado en las comunidades sociales de Brasil, Chile y Argentina
La Universidad de Heidelberg y Santander Universidades amplían su colaboraciónBANCO SANTANDER
La Universidad de Heidelberg y Banco Santander acordaron intensificar su colaboración a través de dos nuevos programas para fomentar la investigación y la movilidad de estudiantes e investigadores entre Europa, Latinoamérica y Asia. El banco financiará escuelas de invierno y verano innovadoras y becas que permitan estancias de investigación en universidades asociadas. El objetivo es establecer sólidas redes de colaboración científica entre las regiones y apoyar a los investigadores más jóvenes.
This financial report provides key financial data for Santander Group for the first three quarters of 2011 compared to the same period in 2010. Some highlights include:
- Gross income increased 5.8% to €33.3 billion driven by record net interest and fee income.
- Net operating income rose 6.6% to €18.5 billion despite a 9.1% rise in operating expenses from business expansion.
- Attributable profit declined 12.8% to €5.3 billion due to a large provision in the UK. Excluding this, profit fell only 2.6%.
- The core capital ratio improved to 9.42% from 8.47% a year ago, reflecting a
This document discusses current liabilities, provisions, and contingencies. It begins by outlining the learning objectives, which are to describe various types of current liabilities, explain classification issues related to short-term debt expected to be refinanced, identify types of employee-related liabilities, explain accounting for provisions, and identify criteria for contingent liabilities and assets. It then defines key terms like liability, current liability, and contingencies. Specific types of current liabilities are explained, such as accounts payable, notes payable, current maturities of long-term debt, and unearned revenue. The accounting treatment and examples of these items are provided.
Unit 11 - Current Liabilities and Contingent LiabilitiesEricaD22
The document discusses current liabilities such as accounts payable, the current portion of long-term debt, and notes payable. It also describes contingent liabilities like product warranties. Companies estimate potential warranty costs based on past experience and record an expense and liability if the warranty obligations are probable and estimable. Journal entries are provided to record estimated warranty expenses and adjustments when warranty work is performed.
The document discusses various aspects of owners' equity, including:
- Owners' equity represents the investment made by owners in a business.
- Statements of owners' equity track the capital contributed and any profits/losses of a business over time.
- Different types of business organizations (sole proprietorships, partnerships, companies) have different structures for owners' equity and liability.
- Companies establish authorized, issued, and paid-up share capital through the issuance of ordinary and preference shares. Reserves are also part of owners' equity.
The document discusses issues related to share capital, including repurchases or buybacks of equity shares by a company. It explains two methods for accounting for share buybacks - the share retirement method and treasury share method. It also covers share dividends, share splits, share rights, and the statement of changes in equity. Several illustrations are provided to demonstrate journal entries for share buybacks and subsequent distributions of treasury shares under each method.
The document is a newsletter for the XLVI Annual Felaban Assembly discussing the strength of Latin American economies despite the ongoing global economic crisis, highlighting countries like Peru, Mexico, Chile, Colombia and Brazil that have seen growth exceed expectations, as well as credit rating upgrades for countries such as Peru, Bolivia, Panama, and Uruguay due to sound economic policies enabling resilience against external shocks.
This document provides guidance on preparing the balance sheet format according to the Companies Act, 1956 and Schedule VI. It discusses the key components of the balance sheet including share capital, reserves and surpluses, non-current liabilities, current liabilities, non-current assets, current assets, and notes on the classification and presentation of items. The document also provides accounting treatments and disclosure requirements for items like share capital, borrowings, investments, provisions, taxation etc. according to Indian accounting standards.
This document discusses the characteristics and accounting treatment of short term investments. Short term investments must be capable of prompt liquidation and there must be management intent to convert them to cash within one year. They include equity and debt securities carried at cost or at the lower of cost or market value. Gains or losses from sales and reclassifications are recognized in income. Disclosure in financial statements includes policies, income amounts, and market values of investments carried at cost.
Working capital management ppt @ bec doms bagalkot Babasab Patil
This document discusses working capital management. It defines key terms like working capital, net working capital, cash conversion cycle and provides examples of how to calculate them. It also discusses determining a company's working capital policy by analyzing its current ratios, inventory turnover, days sales outstanding and comparing to industry averages. The document provides an example cash budget and discusses how a company can minimize its cash holdings and manage accounts receivable, inventory and accounts payable to improve its cash flows and working capital needs.
The revised schedule VI of the Companies Act provides new guidelines for financial statement disclosures. Key changes include:
1. Assets and liabilities must now be classified as current or non-current rather than grouped together.
2. Additional line items are required, such as separate disclosure of share warrants and application money.
3. Components of assets and liabilities must be broken out, for example tangible and intangible fixed assets.
4. Treatment of certain items has changed, such as lease deposits now disclosed as non-current assets and losses shown under 'Surplus' rather than expenditures.
The presentation summarizes key aspects of the revised Schedule VI format for the balance sheet and profit and loss statement introduced by the Ministry of Corporate Affairs for financial years commencing on or after April 1, 2011. Some of the significant changes introduced include distinguishing current and non-current assets/liabilities, limiting information on the face of financial statements to only broad items with details in notes, and removing the balance sheet abstract. Current assets/liabilities are those expected to be realized/settled within 12 months. Examples are provided to illustrate classification of items as current vs non-current.
A corporation has several key characteristics that distinguish it from other business forms:
1. It is a separate legal entity that exists independently of its owners and can act under its own name.
2. Shareholders have limited liability, meaning they are only responsible for the amount invested and not company debts.
3. Ownership is represented by shares that can be freely transferred to other parties.
4. A corporation can exist indefinitely regardless of changes in ownership because it has a legal existence separate from its owners.
The document provides an overview and financial results for AES Corporation for the fourth quarter and full year of 2008. Some key points:
- Full year 2008 operating cash flow and free cash flow met guidance at $2.2 billion each. Subsidiary distributions totaled $1.1 billion.
- Fourth quarter operating cash flow was $579 million and free cash flow was $314 million. Subsidiary distributions were $386 million.
- 2009 guidance forecasts operating cash flow of $2.1-2.3 billion, free cash flow of $1.4-1.6 billion, and subsidiary distributions of $1.1-1.3 billion.
The document summarizes the key changes introduced in the Revised Schedule VI of the Companies Act, 1956 related to financial statements. Some of the major changes include mandatory classification of assets and liabilities into current and non-current, prescription of only vertical format for balance sheet and profit & loss statement, additional line items and disclosures, and classification of expenses by nature in profit & loss statement. The document provides details on the format, headings, classification and disclosure requirements for items in balance sheet, statement of profit & loss and other statements as per the Revised Schedule VI.
Balnce sheet And P & L as per Revised shedule six with exapleAvinash Chavan
This document appears to be a project report submitted by a student named Avinash Chavan for his Master of Commerce program. The report is on the topic of "Balance sheet and Revenue statement Revised Schedule VI with Example". The document includes an introduction, declaration by the student, evaluation certificate, acknowledgements, index, and the beginning of the content on the introduction to revised schedule VI. It provides the format and key changes included in the revised schedule VI regarding preparation of balance sheets and statements of profit and loss in India.
The document is a study guide for the CBSE Board Examination for Accountancy Class XII. It contains instructions for students on how to fill out the exam including writing their code number on the answer booklet. It also provides an overview of the exam structure which has 3 parts: Part A is compulsory and covers Accounting for Partnership Firms and Companies, while students can choose to attempt either Part B or Part C. The document then provides sample questions and answers for Part A of the exam.
This newsletter provides an overview of JDA's revenue accounting team and processes. It introduces new billing team members Jay Pappas and Allyson Barton. It discusses cash receipts exceeding the Q2 target and an increase in days sales outstanding across regions. It also highlights an escalation process and revenue team support matrix to help address any unresolved issues within established service level agreements.
This document discusses ratio analysis and various financial ratios that can be calculated and analyzed for a company. It includes calculations of current and quick ratios, inventory turnover, days sales outstanding, asset turnover ratios, debt ratios, profitability ratios, and market value ratios for the company's forecasted 2005 financial statements. Key ratios are then compared to industry averages to identify areas of strength and weakness for the company.
The City of Oakland Operating Fund is rated 'AAA/V1+' by Fitch Ratings. The 'AAA' rating reflects the high credit quality of the portfolio's assets, which are mainly U.S. government agency securities, as well as a conservative investment policy and appropriate oversight. The 'V1+' volatility rating reflects low market risk and the fund's ability to maintain stable principal value and meet cash needs, even during adverse market conditions. The portfolio has a weighted average maturity of 165 days and is well diversified, exposing it to minimal credit risk.
Tres programas sociales de Banco Santander permiten la inclusión financiera d...BANCO SANTANDER
La inclusión financiera de comunidades desfavorecidas en Latinoamérica es uno de los pilares básicos de actuación de Banco Santander en la región. El programa Santander Microcréditos en Brasil, la cooperativa "La Juanita" en Argentina y el proyecto "Un techo para Chile", son los mejores ejemplos de cómo iniciativas sencillas, personales y justas pueden contribuir al progreso de los países. Los tres responsables para estos planes explicaron hoy en El Escorial la historia de cada uno de ellos y narraron, durante el XIV Encuentro Santander América Latina, los beneficios que han generado en las comunidades sociales de Brasil, Chile y Argentina
La Universidad de Heidelberg y Santander Universidades amplían su colaboraciónBANCO SANTANDER
La Universidad de Heidelberg y Banco Santander acordaron intensificar su colaboración a través de dos nuevos programas para fomentar la investigación y la movilidad de estudiantes e investigadores entre Europa, Latinoamérica y Asia. El banco financiará escuelas de invierno y verano innovadoras y becas que permitan estancias de investigación en universidades asociadas. El objetivo es establecer sólidas redes de colaboración científica entre las regiones y apoyar a los investigadores más jóvenes.
This financial report provides key financial data for Santander Group for the first three quarters of 2011 compared to the same period in 2010. Some highlights include:
- Gross income increased 5.8% to €33.3 billion driven by record net interest and fee income.
- Net operating income rose 6.6% to €18.5 billion despite a 9.1% rise in operating expenses from business expansion.
- Attributable profit declined 12.8% to €5.3 billion due to a large provision in the UK. Excluding this, profit fell only 2.6%.
- The core capital ratio improved to 9.42% from 8.47% a year ago, reflecting a
El proceso emprendedor español se estabiliza tras verse afectado por la crisisBANCO SANTANDER
El resumen del documento en 3 oraciones o menos es:
El informe GEM España 2013 presentado por varias organizaciones muestra que el emprendimiento en España se ha estabilizado tras la crisis pero sigue siendo inferior a la media europea, con más iniciativas por necesidad que por oportunidad. El informe analiza temas como la Ley de Emprendedores, la financiación y las percepciones sobre el emprendimiento en España.
Banco Santander facilita una línea de 250 millones de crédito a los comercian...BANCO SANTANDER
La Confederación de Comercio de Cataluña (CCC) ha firmado un acuerdo de colaboración con Banco Santander por el que la entidad bancaria pone en marcha un plan de impulso al comercio de proximidad y con el que abrirá una línea de financiación de 250 millones de euros para las pequeñas empresas y autónomos dedicados al sector en Cataluña con tipos de interés preferentes para sus socios.
RedEmprendia organiza un encuentro con inversores para emprendedores universi...BANCO SANTANDER
RedEmprendia organizará un Foro de Inversión para empresas innovadoras surgidas de universidades iberoamericanas buscando financiamiento, el cual tendrá lugar en noviembre en Madrid. Las empresas con menos de 10 años e innovadoras en sectores como tecnología, ciencias de la vida, agroindustria y medio ambiente pueden postularse hasta el 15 de septiembre. Un panel de expertos evaluará las candidaturas y las empresas seleccionadas presentarán ante inversores públicos y privados, recibiendo alojamiento y asesoramiento de
Banco Santander obtuvo un beneficio ordinario de 3.426 millones, con un aumen...BANCO SANTANDER
Banco Santander obtuvo en el primer semestre de 2015 un beneficio atribuido ordinario de 3.426 millones de euros, lo que supone un aumento del 24% con respecto al mismo período de 2014. Los diez mercados principales en los que opera el grupo presentan crecimiento en su beneficio, y es especialmente significativo el aumento en los tres grandes mercados del banco: España, Reino Unido y Brasil.
Casi 100 universitarios de Cantabria realizarán prácticas en PYMES con las ‘B...BANCO SANTANDER
El Banco Santander, a través de su programa "Becas Santander-CRUE-CEPYME", ofrecerá 98 becas a estudiantes de la Universidad de Cantabria y la Universidad Internacional Menéndez Pelayo para realizar prácticas profesionales en PYMES de la región. El programa destinará 176.400 euros a becas en Cantabria en 2013. Las becas de 1.800 euros cada una permitirán a los estudiantes complementar su formación y favorecer su inserción laboral mediante prácticas de tres meses en empresas locales.
Avances científicos y actualidad social en un campus único. Sus aulas se abren
entre los días 9 y 26 de julio a más de 1.000 estudiantes y cerca de 300 ponentes.
Los Proyectos Cero en Especies amenazadas, una de las 20 ideas para salvar la...BANCO SANTANDER
Los Proyectos Cero en Especies Amenazadas, financiados por Banco Santander a través de Santander Universidades con una inversión de 1,1 millones de euros, han sido seleccionados como una de las 20 mejores ideas para salvar la naturaleza en el blog NaturaHoy. Los lectores pueden votar por su proyecto favorito hasta el 20 de julio. Los Proyectos Cero involucraron a casi 70 investigadores de 12 instituciones para estudiar especies amenazadas como el lince ibérico y preservar la biodiversidad.
Este documento presenta información sobre los resultados financieros de Banco Santander para 2011. Destaca la sólida generación de ingresos y beneficios recurrentes del banco. También resalta el esfuerzo realizado en saneamientos extraordinarios para fortalecer el balance, así como la mejora en ratios de capital y cobertura de activos.
La Universidad de Zaragoza y Banco Santander ponen en marcha el Museo de Cien...BANCO SANTANDER
La Universidad de Zaragoza y Banco Santander acordaron poner en marcha dos proyectos: el Museo de Ciencias Naturales de la Universidad de Zaragoza y la Oficina de Proyectos Europeos. Banco Santander financiará la instalación del museo y la oficina apoyará a investigadores en la participación de proyectos europeos. Además, el banco colaborará con la universidad en mejorar la gestión académica y emitir tarjetas universitarias inteligentes.
102 universitarios extremeños recibirán una beca santander de prácticas remun...BANCO SANTANDER
102 universitarios extremeños recibirán una Beca Santander de prácticas remuneradas en Pymes de la región. Banco Santander destinará 183.000 euros a estas becas para la Universidad de Extremadura en 2015. El plazo de inscripción para estudiantes y empresas finaliza el 31 de enero.
Banco Santander expone en Ávila el monoplaza de Ferrari como apoyo al turismo...BANCO SANTANDER
El Banco Santander exhibirá el monoplaza de reserva de Ferrari en Ávila del 30 de marzo al 1 de abril para acercar el deporte del motor a los locales y apoyar el turismo regional; la ropa de Fernando Alonso y un simulador también estarán disponibles; el evento pretende promover la alianza entre Santander y Ferrari como patrocinador oficial de la escudería.
This financial report provides key financial data for 2011 compared to 2010 and 2009 for a company. Some key points:
- Gross income increased 5.3% to €44.3 billion in 2011 compared to 2010, while net operating income rose 2.2% to €24.4 billion.
- However, attributable profit to the group declined 34.6% to €5.4 billion in 2011, with earnings per share down 36.1%.
- Total assets grew 2.8% to over €1.25 trillion in 2011, while customer deposits increased 2.6% and loans rose 3.6%.
Santander y Acorex SCL firman un acuerdo para facilitar la financiación al se...BANCO SANTANDER
Banco Santander y Acorex SCL (Agrupación de cooperativas de regadío de Extremadura) han firmado hoy un acuerdo de colaboración comercial que ofrece acceso a la financiación para la adquisición de los productos y servicios que Acorex SCL comercializa a través de su red de Socios y Distribuidores.
Common draft terms of merger Santander - BanestoBANCO SANTANDER
Banco Santander and Banco Español de Crédito have drafted terms for a merger by absorption. The key points are:
1) Banco Santander will absorb Banco Español de Crédito to improve efficiency through synergies and strengthen its position in Spain.
2) The exchange ratio will be 0.633 Santander shares for each Banco Español share, representing a 25% premium over market prices. This premium reflects expected synergies and Banco Español shareholders missing out on Santander dividends.
3) The merger is expected to improve Santander's Spanish market share, margins, and returns, while creating over 500 million euros in annual
This annual report provides key figures and financial information for Grupo Santander for 2011. Some highlights include:
- Total assets increased 2.8% to €1,251,525 million
- Customer loans grew 3.6% to €750,100 million
- Attributable profit to the Group decreased 34.6% to €5,351 million
- The efficiency ratio improved to 44.9% from 43.3% the prior year
- Capital ratios like Core capital and Tier 1 both increased, with Core capital at 10.02%
7th Santander International Banking Conference: Discurso de Ana BotínBANCO SANTANDER
7th Santander International Banking Conference: Discurso de Ana Botín
Madrid, 22 de octubre de 2014. La Ciudad Grupo Santander ha acogido la séptima conferencia Santander de banca internacional. La presidenta del Banco Santander, Ana Botín, ha participado en el encuentro, que cuenta además con las intervenciones de altas personalidades financieras y económicas de instituciones públicas y privadas de todo el mundo, en un foro al que asistieron directivos internacionales del sector bancario.
Conjunto de fotos de algunos de los eventos organizados por Relación con Accionistas en 2013 en España, Reino Unido, Estados Unidos, México y Portugal.
This document provides an earnings presentation for Banco Santander for the first half of 2017. It includes the following key points:
- Banco Santander acquired Banco Popular, creating the leading bank in loans and deposits in Spain. The acquisition is expected to be accretive to earnings per share and tangible net asset value per share by 2019.
- For the first half of 2017, Banco Santander reported attributable profit of €3.6 billion, up 24% compared to the same period last year. Revenue growth was driven by higher net interest income and fees. Efficiency improved and loan loss provisions decreased.
- By business area, most regions saw double-digit percentage growth in underlying attributable profit
São Paulo, May 11, 2011 – Banco Indusval S.A., financial institution focused on corporate lending, operating in the Brazilian market for over 40 years, listed at the Stock, Commodities and Futures Exchange - BM&FBOVESPA under tickers IDVL3 and IDVL4, announces its financial results for the first quarter of 2011 (1Q11).
Speech by Mr. Emilio Botín – Annual General Meeting 2013BANCO SANTANDER
Mr. Emilio Botín gave a speech at Banco Santander's 2013 Annual General Meeting to discuss the bank's 2012 results and outlook for 2013. He explained that while attributable net profit declined 59% due to high provisions in Spain, pre-provision profit was strong. For 2012, the bank allocated over 18 billion euros to provisions and strengthened its balance sheet, capital, and liquidity. Looking ahead, Mr. Botín expressed optimism for Banco Santander's future due to its solid pre-provision profits, strengthened balance sheet, key transactions in major markets, and commitment to maintaining its dividend.
Santander Bank Annual Report 2011 Letter from Chief Executive Officer, Alfred...BANCO SANTANDER
Banco Santander's CEO Alfredo Sáenz discusses the bank's 2011 financial results and outlook in a letter to shareholders. The bank's profits declined in 2011 due to the European sovereign debt crisis but its core businesses performed well. The CEO emphasizes that Santander has taken steps to strengthen its balance sheet and is well-positioned to recover profitability as the economic environment stabilizes in the coming years.
Banco Santander acquired Banco Popular as part of a resolution scheme adopted by the Single Resolution Board. The acquisition strengthens Santander's position in Spain and Portugal and is expected to generate cost synergies and profitability improvements. Santander also completed a €7.072 billion capital increase to reinforce its capital structure following the acquisition. In the first half of 2017, Santander reported net income of €3.616 billion and continued progress on its strategic priorities.
The document provides highlights and key information from Banco BI&P's 3Q13 results presentation. Some of the key points include:
- The expanded credit portfolio totaled R$3.6 billion, an increase of 21.5% year-over-year. Loans rated AA to B represented 84.5% of the portfolio.
- Adjusted revenue from credit operations increased 12.7% quarter-over-quarter and 32.7% year-over-year.
- A new asset management platform called "guide investimentos" was launched in November to provide services to high-net-worth individuals.
- The acquisition of Banco Intercap was completed in November, increasing the expanded credit
Chairman’s speech at the 2012 results presentation BANCO SANTANDER
Mr. Emilio Botin presented Banco Santander's 2012 results which showed attributed net profit of EUR 2.205 billion, down 59% from the previous year due to high provisions and writedowns in Spain. However, profit before provisions was EUR 23.559 billion, ranking Santander third globally. Santander strengthened its balance sheet, capital, liquidity and reduced its real estate exposure in Spain. Looking forward, Santander remains well positioned due to its diversification, subsidiary model, commercial banking focus, risk management and efficiency.
Annual General Meeting José Antonio Álvarez speechBANCO SANTANDER
Grupo Santander reported a 39% increase in profits in 2014 to €5.8 billion, with strong growth across most business units. Looking ahead, Santander expects a continued gradual global economic recovery but also tougher regulatory requirements. The bank will focus on improving profitability further through initiatives like gaining market share, boosting customer loyalty, and maintaining strict cost control while investing in technology and commercial activities.
9M'17 Earnings Presentation
Santander attributable profit for first nine months of 2017 reaches €5,077 million – up 10% after €515 million of one-off items
Speech by Emilio Botín 2014 Annual General Meeting BANCO SANTANDER
This document summarizes Emilio Botín's speech at Banco Santander's annual general meeting on March 28, 2014. Botín discussed Banco Santander's 2013 results and shareholder remuneration, their banking model and strategic position regarding the European banking union, corporate governance changes, and an optimistic outlook for 2014. Key points included a 90% increase in 2013 profits, maintaining a dividend of €0.60 per share, and that Santander's diversification positions it well for regulatory changes and economic opportunities.
Alfredo Sáenz, CEO of Banco Santander, stated that the bank's profits will return to normal levels within three years. Emerging markets like Latin America and Poland are expected to provide double-digit profit growth in the short to medium term. Mature markets where loan loss provisions have stabilized or declined, such as the UK, US, and Santander Consumer Finance, will see single-digit profit increases over three years. Spain and Portugal, where provisions remain high, are projected to generate €2 billion in excess capital annually in 2013 and 2014.
FULL SPEECH OF EMILIO BOTIN IN THE SANTANDER INVESTOR DAY 2011BANCO SANTANDER
This document is the transcript of a speech given by Emilio Botin, Chairman of Banco Santander, at the bank's 2011 Investor Day. The summary is:
1) Botin outlines how Santander has remained profitable and strengthened its capital position during the financial crisis, growing through acquisitions.
2) He describes Santander's unique strategic positioning, including geographic diversification, prudent risk management, an autonomous subsidiary model, integration creating synergies, and a global brand.
3) Botin argues this positions Santander for higher profitability and presents the bank's strategy to create shareholder value through organic growth and maintaining its business model as competitors change strategies.
This document is the transcript of a speech given by Emilio Botin, Chairman of Banco Santander, at the bank's 2011 Investor Day. The summary is:
1) Botin outlines how Santander has remained profitable and strengthened its capital position during the financial crisis, growing through acquisitions.
2) He describes Santander's unique strategic positioning, including geographic diversification, prudent risk management, an autonomous subsidiary model, integration creating synergies, and a global brand.
3) Botin expects Santander to achieve a 12-14% return on equity and 16-18% return on tangible equity by 2014, creating shareholder value through organic growth and higher profitability across its markets
- Banco Santander presented its 1Q'16 earnings and provided an overview of performance by business area.
- For Spain, net interest income was up driven by lower cost of deposits and fee income grew, while costs were down and loan loss provisions decreased.
- The United Kingdom saw growth in lending to individuals and deposits, while costs decreased and asset quality improved.
- In Brazil, lending growth was supported by individuals and SMEs, while revenues grew and costs decreased despite higher inflation.
This document provides important information for investors about Santander's offer to acquire minority interests in Santander Brasil. It cautions that materials related to the exchange tender offer contain forward-looking statements and risk factors. It directs investors to read SEC filings for the proposed transaction which contain additional important details. The information in this presentation must be read together with other public disclosures and no profit forecast should be construed from it.
- Santander reported results for Q1 2018 with profits growing 10% year-over-year to EUR 2,054 million, driven by strong performance across most business areas.
- Key highlights included growth in loyal and digital customers, higher net interest income and fees, and lower provisions as asset quality continued to improve.
- Capital levels remained strong with a fully loaded CET1 ratio of 11.0%, positioning Santander well to meet 2018 targets.
This document is Saxo Bank's 2009 annual report which summarizes their financial performance and strategic developments that year. The report indicates that while 2009 presented economic uncertainty, Saxo Bank was able to achieve satisfactory financial results including operating income of DKK 2.2 billion and net profit of DKK 201 million. It also details Saxo Bank's participation in the Danish state guarantee scheme, its continued restructuring efforts, and outlines its new strategic direction targeting four categories of clients.
Quarterly report for our investors - Fourth quarter 2019BESTINVER
The international portfolio delivered returns of 23% in 2019. The portfolio is diversified across sectors with largest allocations to industrial (38%), financial (19%), and communication & technology (15%). Additions to the portfolio included Aperam, a stainless steel producer. Positions in ABB and Delivery Hero were increased as both companies improved their competitive positions. Cobham was exited following a takeover bid. The international portfolio trades at a PER of 9.5x and has 58% upside potential to its target value.
1) The document cautions that the presentation contains forward-looking statements that may differ from actual results due to various risk factors.
2) It provides capital ratios and other metrics to demonstrate Santander's balance sheet strength, including a core capital ratio above 10% and liquidity measures.
3) Details are given on real estate provisions taken in Spain in H1'12 and their impact on profits, while still maintaining strong capital ratios.
1) The document cautions that the presentation contains forward-looking statements that are subject to risks and uncertainties.
2) It provides highlights of Santander's 2012 performance including sustained pre-provision profit generation, significant efforts to strengthen provisions, continued improvement in its core capital ratio, and improved liquidity position through deleveraging and repaying LTRO borrowings.
3) Santander made a large effort to strengthen provisions, especially in Spain, with total group provisions reaching EUR 19 billion and the coverage ratio increasing substantially.
Banco Santander premiado con cinco galardones en los IR MAGAZINE AWARDS EUROP...BANCO SANTANDER
Banco Santander recibió cinco galardones en los IR MAGAZINE AWARDS EUROPE 2018, incluyendo el primer premio en las categorías de Mejor Relación con Inversores en una operación corporativa por la adquisición de Popular, Mejor evento de Relación con Inversores por su Investor Day, y Mejor utilización de las herramientas multimedia en la actividad de Relación con Inversores. También fue premiado en tercer lugar en las categorías de Mejor equipo de Relación con Inversores del sector financiero europeo y Mejor director de Relación con Inversores
1) The document is Santander Group's financial report for the first quarter of 2018, highlighting key performance data such as profits, capital ratios, and customer metrics.
2) Santander achieved double digit profit growth in Q1 2018 driven by strong results in Brazil, Spain, and Mexico, with profits, profitability, and capital all increasing compared to the same period last year.
3) Santander's strategy of focusing on customer loyalty saw increases in both loyal and digital customers compared to the previous year, with solid funding and liquidity positions.
Este documento presenta los resultados del primer trimestre de 2018 de Banco Santander. Resume que los resultados muestran un crecimiento del beneficio atribuido del 10% interanual impulsado por el aumento de clientes, la mejora de la excelencia operativa y la transformación digital. También destaca el crecimiento de los clientes vinculados y digitales, la mejora de la rentabilidad y la generación de capital, permitiendo aumentar el dividendo propuesto.
Este documento presenta los resultados financieros del Grupo Santander para el primer trimestre de 2018. Destaca un aumento del 10% en el beneficio ordinario atribuido respecto al mismo periodo del año anterior, impulsado por los buenos resultados en Brasil, España y México. También resalta el crecimiento del número de clientes vinculados y digitales gracias a la estrategia de transformación comercial. El ratio de capital CET1 fully loaded se sitúa en el 11%, cumpliendo holgadamente con los requerimientos regulatorios.
Santander InnoVentures makes its first investment in Brazil via digital lendi...BANCO SANTANDER
Santander InnoVentures, the fintech venture capital fund of Santander Group, announced today an investment in the startup Creditas, the leading Brazilian secured lending platform. This is Santander InnoVentures’ first investment in Brazil and second in Latin America.
Fundación Repsol beca con el apoyo de Fundación Universia a trece universitar...BANCO SANTANDER
Trece estudiantes universitarios, ocho de grado y cinco de máster, han sido seleccionados en la IV Convocatoria de Becas Fundación Repsol destinadas a personas con discapacidad para la realización de estudios superiores en áreas técnicas. Fundación Universia ha colaborado un año más en el proceso de convocatoria y selección de los becados.
Santander recupera la gestión de los cajeros automáticos y de las tarjetas de...BANCO SANTANDER
Santander rehace las alianzas que Banco Popular mantenía con terceras entidades para recuperar la gestión de negocios estratégicos y facilitar la integración, con el foco puesto en la mejora de la experiencia del cliente. La entidad ha alcanzado un acuerdo con Euro Automatic Cash, sociedad propietaria de los cajeros de Popular, que permite a todos los clientes del Grupo Santander (Santander, Popular, Pastor y Openbank) utilizar gratuitamente una red total de 7.500 cajeros en España. Desde octubre, los clientes de Popular ya podían utilizar gratuitamente los cajeros propiedad de Santander, pero aún faltaba por cerrar el acuerdo con esta sociedad, necesario para que los clientes de Santander tuviesen también acceso, sin coste, a la red de cajeros de Popular.
Santander renueva la imagen de marca para reforzar su estrategia digitalBANCO SANTANDER
El Banco Santander ha renovado su imagen de marca para reflejar mejor su estrategia digital y valores corporativos. Mantienen la esencia de su logo pero lo modernizan con una tipografía única y estilizada, y un tono de rojo más brillante, además de aumentar el uso del blanco para transmitir mayor transparencia. La actualización permitirá la convivencia temporal de la marca actual y antigua mientras se implementa progresivamente en canales digitales, comunicación y publicidad, y luego en oficinas y otros activos físicos.
Santander InnoVentures invierte en Roostify, una startup que permite formaliz...BANCO SANTANDER
Santander InnoVentures, el fondo de capital emprendedor en tecnología financiera de Grupo Santander, ha anunciado hoy una inversión en Roostify, una empresa emergente con sede en San Francisco (California) que permite digitalizar todo el proceso para formalizar el contrato de una hipoteca, e incluso hacer las gestiones con el móvil. Roostify se fundó en 2014 para acelerar y simplificar la firma de las hipotecas y eliminar el uso de papel, además de reducir costes en el proceso.
Álvaro Antonio Cardoso de Souza to join Banco Santander's board of directorsBANCO SANTANDER
The board of directors of Banco Santander, in a meeting held yesterday in San Francisco (USA), called this year’s Ordinary Shareholders’ Meeting, which is expected to take place on second call on March 23rd. The agenda for the shareholders’ meeting includes the appointment of Álvaro Antonio Cardoso de Souza as an independent member of the board. He is currently non-executive chairman of the board of Santander Brasil.
Álvaro Antonio Cardoso de Souza se incorporará al consejo de administración d...BANCO SANTANDER
El consejo de administración de Banco Santander, reunido ayer en San Francisco (Estados Unidos), ha convocado la próxima Junta General Ordinaria de Accionistas, que previsiblemente se celebrará el 23 de marzo en segunda convocatoria. El orden del día de la Junta prevé el nombramiento como consejero independiente de Álvaro Antonio Cardoso de Souza, actual presidente no ejecutivo del consejo de administración de Santander Brasil.
Más de 20.000 personas en situación de vulnerabilidad reciben el apoyo de Ban...BANCO SANTANDER
Banco Santander ha destinado 400.000 euros en 2017 a través de su programa Santander Ayuda para apoyar 80 proyectos sociales que han mejorado la calidad de vida de más de 20.000 personas en situación de vulnerabilidad. Los proyectos apoyados incluyen la creación de un centro de emergencia para personas sin hogar en Tenerife y la adecuación de una casa de acogida para mujeres víctimas de explotación sexual en Madrid. El programa Santander Ayuda también ha facilitado proyectos de comida a domicilio para mayores y la ampliación de hu
O santander obtém um lucro atribuído de 6.619 milhões de euros em 2017, uma s...BANCO SANTANDER
O Banco Santander S.A. (‘Santander’) obteve um lucro atribuído de 6.619 milhões de euros em 2017, representando um aumento de 7% face ao ano anterior, após registrar um encargo líquido de mais-valias e saneamentos de 897 milhões. O crescimento dos resultados reflete a qualidade e recorrência das receitas, o bom controle de custos e as melhorias na qualidade de crédito.
O Santander registrou tendências positivas nos negócios, com aumentos das receitas em oito dos seus dez mercados principais. As receitas totais subiram 10%, para 48.392 milhões de euros, com crescimentos da margem de juros e das receitas por comissões de 10% e 14%, respectivamente. Os custos de exploração aumentaram a um ritmo menor do que as receitas, permitindo um incremento da margem líquida de 12%.
Santander attributable profit for 2017 reaches 6,619 million euros - up 7%BANCO SANTANDER
Banco Santander S.A. (‘Santander’) increased attributable profit by 7% to €6,619 million during 2017 after €897 million of net capital gains and provisions, with growth driven by further improvements in the quality and recurrence of revenues combined with good cost control and an overall strengthening in credit quality. The Group continued to see positive trends across its businesses, with revenues increasing in eight of its ten core markets. Total income increased by 10% to €48.4 billion with net interest income and fee income increasing by 10% and 14% respectively. Operating expenses increased at a lower rate than revenues, leading to a 12% increase in net operating income.
Resultados 2017 Santander obtiene un beneficio atribuido de 6.619 millones de...BANCO SANTANDER
Banco Santander S.A. (‘Santander’) obtuvo un beneficio atribuido de 6.619 millones de euros en 2017, lo que supone un aumento del 7% respecto al año pasado, tras registrar un cargo neto de plusvalías y saneamientos de 897 millones. El crecimiento de los resultados refleja la calidad y recurrencia de los ingresos, el buen control de costes y las mejoras en la calidad crediticia. Santander registró tendencias positivas en los negocios, con incrementos de los ingresos en ocho de sus diez mercados principales. Los ingresos totales subieron un 10%, 48.392 millones de euros, con crecimientos del margen de intereses y de los ingresos por comisiones del 10% y del 14%, respectivamente. Los costes de explotación aumentaron a un ritmo menor que los ingresos, lo que permitió un incremento del margen neto del 12%.
Santander lanza la primera gama de fondos de inversión sostenibles en EspañaBANCO SANTANDER
Banco Santander incorpora a su oferta de productos de inversión colectiva una gama nueva de fondos para responder a la demanda creciente de inversión responsable y sostenible. El banco lanza esta semana dos nuevos fondos mixtos, bajo la gama Santander Sostenible, e inicia así un camino para convertirse en una referencia en España en este ámbito.
Banco Santander, líder mundial en el Bloomberg Gender Equality IndexBANCO SANTANDER
Banco Santander se mantiene como líder mundial en el Bloomberg Gender Equality Index por segundo año consecutivo, obteniendo una puntuación de 93,4 sobre 100. El índice valora las políticas e iniciativas de las empresas para fomentar la diversidad de género entre empleados, clientes y la sociedad. Banco Santander aumentó el número de mujeres en puestos directivos un 9% en 2016 y promueve programas de microcréditos que apoyan a más de 250.000 microemprendedores, el 70% mujeres, en Latinoamérica.
El programa Explorer impulsará las ideas de más de 1.200 jóvenes emprendedore...BANCO SANTANDER
El programa Explorer, impulsado por Banco Santander a través de Santander Universidades y coordinado por el CISE, seleccionó más de 1.200 proyectos emprendedores de entre las más de 2.900 candidaturas recibidas. Los emprendedores seleccionados recibirán formación, apoyo y mentoring durante cinco meses para desarrollar más de 900 ideas innovadoras en sectores como medioambiente, salud, educación, turismo o industria. Al final del programa, 52 emprendedores viajarán a Silicon Valley y los tres mejores proyectos rec
Santander y su filial Bank Zachodni WBK adquieren el negocio de banca minoris...BANCO SANTANDER
Banco Santander S.A. (“Santander”) y su filial en Polonia, Bank Zachodni WBK (“BZ WBK”), han anunciado hoy que han acordado la compra del negocio minorista y de banca privada de Deutsche Bank Polska, S.A. (excluyendo su cartera de hipotecas en divisa extranjera e incluyendo las acciones de DB Securities, S.A. (Poland)) por un importe total estimado de 305 millones de euros.
Santander, Crue y CEPYME convocan 5.000 becas de prácticas profesionales remu...BANCO SANTANDER
Banco Santander, Crue Universidades Españolas y CEPYME han firmado un acuerdo para lanzar la séptima edición de las Becas Santander-Crue-CEPYME, que ofrecerán 5.000 becas de prácticas remuneradas a estudiantes universitarios en pymes españolas. El programa busca mejorar la inserción laboral de los jóvenes y aportar talento a las pequeñas y medianas empresas. Banco Santander ha destinado más de 40 millones de euros a este programa desde su inicio en 2011.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
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NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
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Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
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The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...YourLegal Accounting
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2. 2
Important information
Banco Santander, S.A. ("Santander") cautions that this presentation contains forward looking statements. These forward-looking statements
are found in various places throughout this presentation and include, without limitation, statements concerning our future business
development and economic performance and the expected synergies to arise from the proposed merger. While these forward-looking
statements represent our judgment and future expectations concerning the development of our business and the Spanish financial sector, a
number of risks, uncertainties and other important factors could cause actual developments and results, including the level of foreseen
synergies, to differ materially from our expectations. These factors include, but are not limited to: (1) general market, macro economic,
governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates and interest rates;
(3) competitive pressures; (4) technological developments; and (5) changes in the financial position or credit worthiness of our customers,
obligors and counterparties. The risk factors that we have indicated in our past and future filings and reports, including those with the
Securities and Exchange Commission of the United States of America (the “SEC”) could adversely affect our business and financial
performance. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking
statements. Forward-looking statements speak only as of the date on which they are made and are based on the knowledge, information
available and views taken on the date on which they are made; such knowledge, information and views may change at any time. Santander
does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information,
including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only
on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as
is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the
circumstances and not in reliance on the information contained in the presentation. In making this presentation available, Santander gives no
advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments
whatsoever.
Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any
securities. No offering of securities shall be made in the United States. Nothing contained in this presentation is intended to constitute an
invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial
Services and Markets Act 2000.
Additional information for US persons: the consideration paid to shareholders of Banesto for the merger will be the securities of a foreign
company. The offer is subject to disclosure requirements of a foreign country that are different from those of the United States. Financial
statements included in the document, if any, have been prepared in accordance with foreign accounting standards that may not be
comparable to the financial statements of United States companies. It may be difficult to enforce rights and any claim arising under the federal
securities laws, since the issuer is located in a foreign country, and some or all of its officers and directors may be residents of a foreign
country. You may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws. It
may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgment. You should be aware that the
issuer may purchase securities otherwise than pursuant to the merger, such as in open market or privately negotiated purchases.
Note: Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future
earnings (including earnings per share) for any period will necessarily match or exceed those of any prior year. Nothing in this presentation
should be construed as a profit forecast.
3. 3
Summary of the transaction
Rationale of the transaction:
Why are we doing this now?
The Spanish financial system: outlook
Final remarks
4. 4
Summary of the transaction
Santander offers to acquire Banesto’s minority shareholders at
an exchange ratio of 0.633x Santander shares for each share of
Banesto (EUR 3.73 per share*), paid with treasury stock
(approx. 45 million Santander shares)
This exchange offer values Banesto at approx. EUR 2.6bn (25%
premium over closing date Dec 14, 2012 and a premium of 42%
over the average price of the last 6 months)
Merger expected to be completed by May 2013
Banesto S.A. will be absorbed and merged into Santander
Annual synergies expected to reach pre tax EUR 520m; (EUR
420m cost synergies; EUR 100m revenue improvement), within
3 years.
Personnel reduction will be performed in a progressive way via
natural turnover, relocation to other units and incentivised
redundancies
* Based on Santander’s closing stock price of EUR 5.90 per share and Banesto’s
closing stock price of EUR 2.99 (Dec.14, 2012)
5. 5
An attractive deal for Banesto shareholders….
Banesto shareholders receive +25 % premium over Dec 14th
closing price and a +42 % premium over the 6 month average
Banesto shareholders participate in a international diversified
bank with 55% of its profit coming from emerging markets; with a
strong balance sheet and significantly higher growth prospects.
Banesto shareholders receive Santander shares which are one of
the most liquid stocks in Europe, with an attractive shareholder
remuneration strategy (past 12 months: 60c)
On top of that, as Santander’s shareholders, Banesto
shareholders will benefit from the delivery of the integration
synergies
6. 6
….and service improvements for Santander and
Banesto´s customers
• Santander’s and Banesto’s customers will have
access to a broader distribution network
(4,000 branches)
• Banesto’s customers will have access to a
broader range of products, as well as to
Santander’s international network that can
support the international operations of its SME
and corporate customers.
7. 7 7
EXPECTED TIMETABLE
Dec 17, 2012 Santander’s Board approves the transaction
Jan 9, 2013 Santander’s Board approves merger project
Jan 10, 2013 Merger project communicated to the market / CNMV
Santander’s General Shareholders’ Meeting.
Mar 22, 2013
April 26, 2013 Regulatory and administrative approvals (approx.)
Legal merger completed and Santander‘s shares will be
May, 2013
delivered to Banesto’s shareholders
8. 8
Summary of the transaction
Rationale of the transaction:
Why are we doing this now?
The Spanish financial system: outlook
Final remarks
9. Rationale of the merger 9
The profitability of the banking sector in Spain
A is under pressure
B Why now?
C Cost synergies
D Revenue improvement: new structure in Spain
E Financial impacts
10. 10
The profitability of the banking sector in Spain is under
A pressure…
The Spanish financial system has lost
profitability over the past 5 years
What does the sector
need to do?
Lower spreads 1. Recover lost SPREADS
and FEE income…
…leads to a
deteriorating efficiency
despite cost
improvement 2.
…NORMALISATION OF
PROVISIONS
Cyclically higher
provision
3.
… and IMPROVE
= Low
profitability EFFICIENCY
11. 11
Santander is working to recover profit levels in Spain lost
in the last few years…
1. Credit front book at good margins… new
Recover lost SPREADS deposit origination margins still need to
and FEE income improve; improved fee generation through
enhanced quality of service
We are accelerating the provisioning of the
2.
NORMALISATION
Spanish balance sheet
(400 bp, inc. Royal Decrees)
OF PROVISIONS We expect provision normalisation to start by
the H2 2013
3.
… and We have been delivering flat
costs, but this is not enough…
IMPROVE now we need to focus on structural
EFFICIENCY efficiency improvement
12. 12
B Why now?
1. A “single brand” strategy is
most suitable for a low growth market
Focus on combining EFFICIENCY GAINS with selective market
share gains = best achieved with a SINGLE BRAND
Higher economies of scale
2. 3. Flight to quality to the top
are necessary in a more
brands is accelerating
concentrated market
Average market share of the “top
5” branch networks:
2007: ca. 8% +1.9pp since
Dec-11
2015 (exp.): ca. 12-13%
13. 13
A single brand = stronger position
Ranking: number of
Ranking: deposits (EUR bn)
branches
14. 14
A balanced nationwide network…
Combined branch market share by region
12% 29% 11%
13% 9%
8%
11% 10%
9%
17%
12% 9%
12% 10%
9%
11%
16%
15. … with one of the strongest brands in the 15
international financial system
Top Banking Brands 2012
1
2
The 4th
3 international
Zara and Santander, the only two financial
4 brand…
Spanish brands in the global “Top 100”
5
Interbrand 2012 … and the 1st in
6 the Eurozone
7
8
9
10
Brand Finance Global 500 February 2012
16. Cost synergies: Brand consolidation and structural 16
C efficiency improvement
Integration of central structures Branch optimisation:
• There is already some degree of
integration between Santander and • We expect to close approx. 700
Banesto (e.g., IT platform, factories) branches, without impact on our
• However, significant efficiencies can business generation, over the
still be achieved through the next 3 years
integration of both structures
• One corporate center / one
management structure • Optimal size of the new network:
ca. 4,000 branches (vs 4,664
• Integration of intermediate currently)
structures
• Full integration of back offices /
IT/ops • Resource re-allocation:
strengthen our corporate, SME
Estimated timeline for operating and affluent segments / networks
integration: 1 YEAR
17. 17
Cost synergies: EUR 420m (pretax) within three years
% of Total
Total
2012 costs
Synergies (before taxes)
Pre-tax
savings (SPAIN)
Year 1 Year 2 Year 3
IT 30
Premises / real estate 69 420
Ops 32
326
Advertising / brand 8
Other expenses 27 206
Depreciation 16
Total G&A 183 11%
Total combined headcount to be
Personnel expenses 237 10% reduced progressively over 3 years:
• Natural turnover
Total costs 420 10%
• Relocation to other units within the
Restructuring cost after taxes: Group that require headcount growth
EUR 400m • Incentivised redundancies
(Platform migration, IT, rebranding, • In addition, Banesto´s employees will
headcount reduction, etc.) have access to an international career
18. 18
Revenue enhancement: Re-allocate resources to the most
D attractive / higher ROE segments:
Corporates / SMEs / affluent, through specialised networks
Currently: Target:
4,664 branches Approx 4,000
A single brand
branches
New business structure
Leverage on Banesto’s
2,914 branches traditional strengths in
(of which 149 Business
SME and business banking
Branches)
Reinforce specialised Universal Branches
networks:
Optimised Network
SME/Corporate
1,698 branches Affluent Private banking Business banking centres
(of which 79 Business
Branches) Enhanced service quality Reinforced Network
Premium Branches
Target revenue
improvement in 3 years: Reinforced Network
52
Premium Branches
EUR 100 m
19. Financial impacts 19
E Total synergies (revenue + cost) expected to reach
EUR 520m (pre-tax)
(*)
Impact on capital: approx. neutral
(*) Based on consensus estimates
20. 20
Summary of the transaction
Rationale of the transaction:
Why are we doing this now?
The Spanish financial system: outlook
Final remarks
21. 21
Features of the Spanish financial system in 2015+
I A more concentrated market
II … on track to deliver a ROTE normalisation
III … but with clear winners and losers
22. 22
I A more concentrated market…
Deposit market share
(3Q12) Top 5 banks will
control ca. 65% of the
Ca.
16% in market (in line with
2015 other European
economies)
… = improved
pricing rationality
and economies of
scale
23. 23
II … on track to a ROTE normalisation in the sector
1.
The sector will move towards a
IMPROVE SPREADS more normalised ROTE
over the next 3-4 years
ROTE: Spanish financial sector
2.
NORMALISATION OF
PROVISIONS
3.
IMPROVE EFFICIENCY
2006-07 2011-12 2015-16
24. 24
IMPROVE SPREADS: Customer spread improvement is
1. already under way
Back book interest rates- Spain SPREADS EXPECTED
TO CONTINUE TO
IMPROVE OVER THE
NEXT 18 MONTHS:
• Lending spreads:
favorable back book / front
book dynamics to
continue
+40-50 bp • Deposit spreads to
over 2-3 improve following
years deleveraging / creation of
SAREB
• 40-50 bp margin
improvement expected in
2-3 years
• ..plus (not included in
numbers) additional M-T
upside from progressive
Jul-13e
Dec-13e
Jun-14e
Dec-14e
Jun-15e
Dec-15e
Jun -16e
Dec-16e
normalization of ECB rates
25. 25
PROVISIONS: Peak in 2012 / 2013; normalisation
2. expected over the next 3 years
Evolution cost of risk (Provisions / loans)% (*)
Normalisation
of provisions
will start in
2013
… moving
towards a
normalised
level through
The financial system expects to
the cycle
fully comply with the provisioning level of 60bp
requirements for Spanish real
estate by 2013
(*) Provisions in 2012 are higher due to the effect of the RDs on real
estate provisions
26. 26
3. IMPROVE EFFICIENCY: Reduction in the number of
branches in the system via plain closures or mergers /
integrations
Evolution of branches (banks+saving banks)
Trend for the
Pre-crisis Current period
next 3-4 years
2004-2008 2009-2012 2013e-2016e
# branches opened/closed +5,462 -7,065 -9,000
Total branches 46,065 39,000 30,000
SAN market share 11% 12% 13%
Financial system expected to close
9,000 branches over the next 3 years
27. 27
III … but with clear winners and losers…
Deposit evolution by groups
The BIG 3 have increased
their market share mainly
through capturing deposits
from the WEAKER
Santander Spain COMPETITORS
has shown the best
individual
performance in the
system
28. Santander is a CLEAR WINNER in the new environment, 28
leading to the NORMALISATION OF THE
CONTRIBUTION OF OUR SPANISH BUSINESS
Improve margins and
gain profitable market
Improve
Normalise
share with enhanced efficiency provisions
service quality
2012: Cost of risk 2012:
• Loans: EUR 210bn (MS 11%) 150bp ex RDs
• Deposits: EUR 185bn (MS 14%) Announced cost (ca. EUR 3bn)
• NIM: 3% (NII / loans) synergies (merger of the (400bp with RDs)
networks; new
3 YEAR VIEW: structure):
Loans: EUR 220bn (MS 13%) + EUR 0.42bn Cost of risk 2015:
Deposits: EUR 210bn (MS 16%) 70bp
NIM: 3.3% (NII / loans) (EUR 1.4bn)
Improved revenue generation: Lower costs: Lower provisions
EUR +0.6bn EUR 0.42bn Ca. EUR 1.5bn
29. 29
Santander will be a CLEAR WINNER in the new
environment, leading to the NORMALISATION OF THE
CONTRIBUTION OF OUR SPANISH BUSINESS
The new structure is
designed to take full
Our target is to
advantage of the deliver a
growth 12-15% ROTE
opportunities, in our Spanish
business within
mainly through three years
organic growth
30. 30
Summary of the transaction
Rationale of the transaction:
Why are we doing this now?
The Spanish financial system: outlook
Final remarks
31. 31
Final remarks
An attractive transaction for Santander shareholders:
− Low execution risk
− Significant integration synergies (+EUR 520m)
− EPS accretive: +3% in Year 3
− The single brand and the new structure will allow Santander to best capture the
market share gain opportunities in the Spanish market, which will contribute to the
normalisation of its profitability in Spain
An attractive transaction for Banesto shareholders:
− Attractive premium (+25% over Dec 14th closing price; +42% over the 6 month
average)
− Become shareholders of Santander: a diversified international group, with presence
in high growth markets and a liquid stock, with an attractive remuneration strategy
An attractive transaction for all stakeholders of both banks: a stronger network
able to provide a wider range of products and better quality of service