Banco Santander registered attributable net profit of €5.351 billion in 2011, a decline of 35% from 2010.
Profit would have been €7.021 billion, a decline of 14%, if the bank had not made pretax provisions in the fourth quarter against property exposure in Spain of €1.812 billion and a pretax amortization of €600 million from goodwill related to its businesses in Portugal. The bank also applied net capital gains of €1.513 billion realized in 2011 to other extraordinary provisions.
Provisions against property exposure in Spain increased coverage of on-balance properties from 31% to 50%. Provisions for acquired properties came to €4.278 billion for €8.552 billion in gross on-balance real estate assets.
Banco Santander Chairman Emilio Botín said: "Banco Santander has shown it is able to generate results and, at the same time, meet the capital requirements set out by the EBA, significantly increase provisions for property exposure and maintain shareholder remuneration at €0.60 per share for the third consecutive year."
The strengthening of capital ratios and the quality of the balance sheet are due to Banco Santander's ability to realize selective capital gains, without affecting growth in revenues nor the generation of pre-provision profit.
Source: Banco SantanderDate: 31.01.2012
| |  Rating agency Moody's downgrades 16 Spanish banks - 18.05.2012
Rating agency Moody's downgraded 16 Spanish banks on Thursday, the latest sign of distress in Europe. Among those downgraded were giants Banco Santander and BBVA, the country's two largest banks.
Source: CNNMoney |
| | Middle East's Leading Banking Technology & Innovation Summit to be held in Dubai - 07.05.2012
Following on from the success of the 2011 Middle East Banking Technology & Innovation Summit, Expotrade announces that this year’s event will once again take place in Dubai on the 1-2 October 2012. This year’s conference will focus on strengthening the Middle Eastern banking and financial industry’s position within the global market.
Source: Expotrade |
| | More than 2.5 billion people around the world don’t have a bank account - 23.04.2012
Three quarters of the world’s poor don’t have a bank account, not only because of poverty, but the cost, travel distance and amount of paper work involved in opening an account, according to new data released by the World Bank.
Source: World Bank |
| | No breakthrough in Swiss-US tax dispute despite talks - 22.04.2012
Talks between senior U.S. and Swiss officials about a dispute over unpaid taxes on accounts held in Swiss banks led to no breakthroughs, Swiss President Eveline Widmer-Schlumpf said on Saturday.
Source: Reuters |
| | World's best emerging market banks in Central and Eastern Europe (CEE) - 26.03.2012
The following are the «World's best emerging market banks 2012 in Central & Eastern Europe» according to rankings published by Global Finance magazine:
Source: Global Finance |
| | Western Union to launch innovative payments platform WU Pay - 22.03.2012
The Western Union Company, a leader in global payment services, today announced that it will launch WU Pay, a new and innovative electronic payments platform that will significantly improve the customer experience and safety for millions of people seeking to make online payments or transfer money.
Source: Western Union |
| | U.S. Banks Complete Stress Tests - 14.03.2012
The majority of the largest banks will continue to have enough capital to satisfy regulators, even if they suffer a financial shock that includes unemployment hitting 13 percent and a 21 percent drop in housing prices, the Federal Reserve said on Tuesday.
Source: Reuters |
