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divi now around 8.25%.. hmmm always like this bank. banks are a tough call now though... thinking
SAWEEEEEEEEETTTTTTTTTTTTTTTT DAYYYYYYYYYYYYYYYYYYY
AT A GLANCE: UK Bank 1Q Earnings Hit By PPI, Regulatory Charges
Last update: 5/9/2011 7:58:10 AM
THE NEWS: HSBC Holdings PLC (HBC) wrapped up the U.K. banks' first-quarter earnings Monday with a disappointing set of results that highlighted the challenges for new Chief Executive Stuart Gulliver to improve the bank's revenue and cuts its costs.
It also weighed in on how much it expects to repay to customers mis-sold payment protection insurance on mortgages and other loans, after Lloyds Banking Group PLC (LYG) shocked the market last week with a GBP3.2 billion provision.
HSBC set aside $440 million and Barclays PLC (BCS) Monday said it is earmarking GBP1 billion to PPI customers.
It was largely a lackluster quarter for the country's banks, with only Asia-focused Standard Chartered PLC (STAN.LN) pleasing the market with record income.
BARCLAYS, reported April 27: First-quarter net profit slipped to GBP1.01 billion from GBP1.067 billion amid a sharp fall in revenue at its Barclays Capital investment-banking unit. Bank executives said uncertainty over coming regulatory requirements is hindering dividend growth, and that reducing credit exposure will be a priority to curb the effects of higher capital charges from 2013 on risky assets.
Barclays said the U.K. bank levy charge will be about GBP100 million for the first quarter. On May 9, it said it is provisioning GBP1 billion for PPI customers.
SANTANDER UK, reported April 28: The U.K. arm of Spain's Banco Santander SA (STD), said higher regulatory and liquidity costs hit profit, for a 2% fall in first-quarter net profit from a year earlier, to GBP419 million. It said it has had to pay more to replace maturing debt, and is holding GBP30 billion more in liquid assets than it did 15 months ago because of tougher liquidity regulation. The bank said it is paying out PPI claims as they arise and doesn't need to make a provision.
STANDARD CHARTERED, reported May 4: The U.K.-based, Asia-focused bank said it made record revenue in the first quarter, from double-digit growth in both retail and wholesale banking. Cost growth is still outpacing revenue growth but narrowing from 2010 levels. The bank repeated guidance that it aims to fully bridge that gap by the end of 2011. Hong Kong, India, Singapore, Malaysia and China all made strong contributions, the bank said. It never sold PPI products.
LLOYDS BANKING GROUP, reported May 5: The 41% state-owned bank made a surprise GBP3.2 billion provision to cover refunds to customers mis-sold payment protection insurance on mortgages, credit cards and personal loans, a higher figure than had been expected and putting pressure on its peers to drop a legal effort to stem costs. Because of the charge, as well as lower retail margins, the bank posted a GBP2.44 billion net loss in the first quarter, compared with a GBP169 million net profit in the first quarter of 2010. Attention is now on a strategic update due at the end of June from new CEO Antonio Horta-Osorio, who gave few clues Thursday on what it might hold.
ROYAL BANK OF SCOTLAND GROUP PLC (RBS), reported May 6: The bank's first-quarter loss widened from accounting charges and rising bad debts in Ireland, but its shares rose more than 3% Friday as investors and analysts took comfort from improvements in the bank's core divisions.
Group operating profit, stripping out tax, accounting charges and restructuring costs, was GBP1.05 billion in the three months--better than some analysts' expectations--compared with GBP882 million in the first three months of 2010. The 83% state-owned bank took GBP1.95 billion in impairments, down 27% from GBP2.68 billion and including GBP1.29 billion from its Ireland loan books. RBS still hasn't said what it might have to pay over PPI.
HSBC, reported May 9: The bank's costs soared in the first quarter from a series of one-off charges that included a $440 million provision over mis-sold payment protection insurance. However, net profit rose 58% as it took hefty tax credits in its U.S. business. Analysts said they were disappointed with flat revenue and a miss on pretax profit figures, and that they would probably revise their full-year estimates downward.
HSBC's cost-income ratio, or expenses relative to income, hit 60.9%, well above its target of around 52%. New CEO Gulliver on Wednesday will outline the bank's priorities and potential step-back from some countries and businesses. Europe and North America are seen as the biggest candidates for restructuring.
-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@dowjones.com
(END) Dow Jones Newswires
May 09, 2011 07:58 ET (11:58 GMT)
Banco Santander, China Construction Bank To Form Rural Bank JV
Date : 03/27/2011 @ 10:02AM
Source : Dow Jones News
Stock : Banco Santander S.A. ADS (STD)
Quote : 11.91 -0.03 (-0.25%) @ 4:23PM
Free Banco Santander S.A. ADS Annual Company Report
Banco Santander, China Construction Bank To Form Rural Bank JV
Banco Santander (NYSE:STD)
Intraday Stock Chart
Today : Monday 28 March 2011
Click Here for more Banco Santander Charts.
China Construction Bank Corp. (0939.HK) said Sunday it will tie up with Spain's Banco Santander SA (STD) to set up a rural banking joint venture, targeting the two-thirds of China's 1.3 billion population who lack easy access to funding sources.
The two sides will initially invest CNY3.5 billion (US$534 million) in the joint venture, which will specialize in investing and managing "village and town banks," China Construction Bank, China's second-largest lender by assets, said in a statement.
The amount of the investment will be increased to CNY6.0 billion in the second year after the launch of the joint venture, the statement said.
State-run China Construction Bank will control 80.1% of the joint venture, while Banco Santander will hold the remaining 19.9% stake, the maximum permitted by a foreign bank in a Chinese lender, according to the statement.
The deal is subject to Chinese regulatory approval.
Providing financial services outside of China's large cities has become a concern for China's leadership, as the rural population continues to miss out on the strong economic growth and rising living standards in the country's urban areas.
To encourage banks to expand into less affluent interior regions, China's government has offered tax cuts and relaxed some rules for banks that establish branches in rural regions.
Wow this looks like it will drop more this week imo.
MADRID—The Bank of Spain's estimate of a €15.15 billion ($20.89 billion) capital shortfall among local lenders has kicked off a race for funds as the restructuring of the country's troubled banking sector enters a crucial new phase.
Adding to the urgency is a sense of disappointment over what many investors viewed as a low-ball figure from the Spanish central bank on Thursday. The estimate came on the heels of a much higher one from Moody's Investors Service Inc., which downgraded Spanish government debt to Aa2 with a negative outlook from Aa1, citing Spanish banks' need to raise between €40 billion.
Santander offers to buy Poland's Bank Zachodni
5:49a ET February 7, 2011 (MarketWatch)
MADRID (MarketWatch) -- Banco Santander SA on Monday made an offer to buy 100% of Polish Bank Zachodni WBK SA, in a statement released to regulators. Santander has offered 226.89 zloty a share (58.74 euros) or ?4.29 billion euros ($5.83 billin). Santander said the offer forms part of its agreement reached with Allied Irish Bank PLC last September to buy its 70.36% stake in the Polish bank for ?2.9 billion. Santander said the offer runs from Feb. 24 to March 25. The deal is subject to regulatory approval in Poland, where Santander is still waiting for approval for its bid for the 70%-plus stake owned by AIB.
I've got a pretty tight stop in place and right now I'm so glad I held this one for long. Looks like it's going higher soon.
Santander Plans To Sell 1.91% Stake In Chilean Unit -ReportLast update: 1/11/2011 7:53:20 PM
DOW JONES NEWSWIRES
Spain's Banco Santander SA (STD, SAN.MC) is planning to sell a 1.91% stake in its Banco Santander Chile (SAN, BSANTANDE.SN) unit in coming months and it expects to fetch some $300 million, or about EUR230 million, from the sale, reports Cinco Dias in its Wednesday Internet edition, citing a report from Spanish news agency Efe. The Spanish bank owns 76.9% of its Chilean unit and the stake divestment falls within the bank's plan to cut that holding down to 75%, as announced in 2006, the paper adds. Newspaper Web site: www.cincodias.es -Dow Jones Newswires, enza.tedesco@dowjones.com (END) Dow Jones NewswiresJanuary 11, 2011 19:53 ET (00:53 GMT)
Santander: Polish, Other Buys Won't Impair Capital Ratios
Banco Santander (NYSE:STD)
Intraday Stock Chart
Today : Tuesday 14 September 2010
Click Here for more Banco Santander Charts.
Spanish banking giant Banco Santander SA (STD) Monday said its capital ratios will remain significantly higher than the tighter capital rules of Basel III, even after digesting a string of recent acquisitions in Poland, the U.K. Germany and in Mexico.
At a conference call, finance director Jose Antonio Alvarez said that Santander expects its core capital ratio to stand at between 8.4% and 8.6% by the end of 2011, roughly in line with the 8.6% it recorded at the end of the first half of this year, as the bank
generates additional capital by retaining part of its profits.
Regulators over the weekend agreed to a new and stricter framework for how much capital a bank must have as a percentage of assets
on their books. The new rules, which were agreed in Basel, Switzerland, aim to prevent the types of risky activities that triggered the global financial crisis in 2008. At the core of the new rules, international banks will need to increase the amount of common equity requirement to at least 7% of assets, more than the 2% international standard or the 4% required by U.S. banks. They will have several years to phase in the new standards.
Santander Friday said it had agreed to buy a 70% stake in Poland's Bank Zachodni WBK (BZW.WA) from Allied Irish Banks PLC (AIB), for EUR2.94 billion. It also will launch a bid for the rest of the Polish lender.
Santander is the euro zone's largest bank by market capitalization and has emerged from the financial crisis as one the most financially sound. Last month it acquired 318 retail
branches from Royal Bank of Scotland Group PLC (RBS), which were located primarily in northwest England. It also recently bought assets in Germany and Mexico.
Alvarez said that these acquisitions will consume between 1.2 and 1.4 percentage points of the bank's core Tier 1 capital. However, Alvarez estimated that the bank will generate a similar amount of capital from retained earnings and by paying out part of the dividend in new shares.
-By Christopher Bjork, Dow Jones Newswires, 34 91395 8123, christopher.bjork@dowjones.com
Sounds like the M&T - Sovereign merger in US is near complete...
http://www.buffalonews.com/business/article104450.ece
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=tm&bn=12040&tid=4430&mid=4430&tof=1&frt=2
Ouch this is gonna hurt...
Spanish shares declined sharply Thursday, with banking stocks particularly hit, after Moody’s Investors Service late Wednesday warned of a possible downgrade to the country’s maximum “triple-A” credit rating.
The IBEX-35 fell 1.8% to 9,096.4 points at 0930 GMT, with Banco Santander shedding 1.8%. Rival Banco Bilbao Vizcaya Argentaria was down 2.9% and Banco Popular Espanol fell 1.9%.
“The Moody’s comments will weigh very heavily on the Spanish market,” CM Capital Markets trader Dirk Schnitker said.
The move follows Fitch Ratings’ downgrade of Spain from the coveted top rating late last month. Standard & Poor’s Ratings Services cut Spain to “double-A,” two notches below the top rating, in April.
Moody’s said it would likely lower its ratings on Spain by two notches at the most if it decides to take action at the end of its review, which it said it would complete within three months.
Moody’s warning came at a tense moment. Spain’s bond and treasury bill redemption and coupon-payment obligations amount to 32 billion euros in July, and the country made its first sale of the month Thursday.
The Spanish Treasury said it had sold the maximum intended 3.5 billion euros of a five-year government bond with an average yield of 3.657%. Demand for the debt on offer was robust, totaling 5.97 billion euros.
“This auction was a hurdle that had many very nervous and has been cleared cleanly. This does not mean everything is fine but it does mean that we can continue the difficult path on the edge of the precipice,” CM Capital’s Schnitker said.
Sovereign/M&T Talks to resume?
http://pbn.com/detail/50716.html
American depositary shares of Banco Santander sank US82 cents, or 8.4 per cent, to $US8.92, and American depositary shares of Banco Bilbao Vizcaya Argentaria tumbled $US1, or 10 per cent, to $US9.01, after Morgan Stanley cut its price targets on the Spanish banks' European-traded shares.
Chart shows further down trend IMO
http://stockcharts.com/h-sc/ui?s=STD&p=D&yr=0&mn=3&dy=0&id=p04330066842
WOW run for cover!!!!!!!!
Banco Santander (NYSE: STD) hit a new 52-Week low of $9.02 so far today. Currently the stock is down $0.69 (-7.08%) to $9.05 on 20,743,980 shares traded. Today's low is down $8.84 from a 52-Week high of $17.89. Banco Santander has been showing support around $9.39 and resistance in the $10.31 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for STD. If you are looking for a hedged play on STD the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 10 range.
Alliance & Leicester's 100 Pounds Cash Bonus Back By Popular Demand For Two Weeks Only
100 Pounds Cash Back Offer Exclusively Available for Internet Applications
A&L Named 'Best Current Account Provider' by Moneyfacts at the Consumer Money Awards
* Press Release
* Source: Alliance & Leicester
* On 7:01 pm EST, Thursday November 26, 2009
NARBOROUGH, England--(BUSINESS WIRE)--Santander’s (MAD:SAN) (NYSE:STD - News) Alliance & Leicester is re-introducing its 100 pounds cash bonus for those switching to its Premier Current Account. This follows continued interest in signing up to the deal from customers who missed the deadline for the previous offer.
This latest offer, which comes soon after Alliance & Leicester was named ‘Best Current Account Provider’ at the Moneyfacts Consumer Money Awards, will be available for two weeks only from 30 November until midnight on Sunday 13th December 2009, and is only available online.
Helen Palmer, Head of Current Accounts for Santander’s UK brands said: “Our recent 100 pounds cash back offer proved to be a hit with customers, and we have continued to receive requests from customers looking to switch to our great value Premier Current Account.
“This time-limited offer is good news for those looking to switch their current account, but people must act quickly, as this is available online for two weeks only. Not only will they receive a 100 pounds cash bonus, they will also benefit from one of our great value accounts. This kind of great value is why we have been named ‘Current Account Provider of the Year’ by Moneyfacts.”
Michelle Slade, personal finance expert from Moneyfacts said: “It is important that people make sure they get a good return from their bank. This 100 pounds offer, linked with this very good account does just that. The Consumer Money Awards were voted for by the public, and this offer is exactly why they are ‘Current Account Provider of the Year’.
The Alliance & Leicester Premier Current Account includes:
An interest free overdraft with no usage fees for 12 months (50p per day up to 5 pounds a month thereafter)
0.5 per cent AER/gross in-credit interest on balances up to 2,500 pounds
Free annual European travel insurance.
For more information on the 100 pounds offer and to apply, go online at www.alliance-leicester.co.uk.
- Ends -
The information contained in Abbey's press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
Abbey and the flame logo are registered trademarks.
Notes to Editors
1) Alliance & Leicester was named the Moneyfacts Consumer Money Awards ‘Current Account Provider of the Year’ on 9 November 2009.
2) The 100 pounds bonus will be paid to new customers applying for an Alliance & Leicester Premier Current Account from Monday 30 November 2009. The payment will be made within 11 weeks of the account opening if direct debits and standing orders have been transferred using the Account Transfer Service, and the minimum funding requirements are being adhered to.
3) The minimum funding requirement on the Alliance & Leicester’s Premier Current Account is 500 pounds per month.
4) The 100 pounds switching incentive is available to new applicants who do not currently hold any current account with Alliance Leicester, Abbey, Cahoot or Cater Allen, and have not held any current account with them in the three months preceding their application.
About Us
Santander (SAN.MC, STD.N) is a retail and commercial bank, based in Spain, with operations in more than 40 countries. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit. Founded in 1857, Santander had EUR 1,168 billion in managed funds at the end of 2008.
In the UK, Santander operates three retail businesses – Abbey, Alliance & Leicester who provide competitive loans and savings products, and Bradford & Bingley. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of retail and corporate banking services to 24 million customers.
Abbey, Alliance & Leicester and the savings business of Bradford & Bingley will all become known as Santander by the end of 2010. Abbey and the savings business of Bradford & Bingley will be rebranded from the first quarter of 2010 and Alliance & Leicester will follow later in the year. The move will deliver a significant advantage for customers as they will be able to use any of 1,000 Santander branches from early 2010, rising to over 1,300 by the end of 2010. For more information visit http://www.santander.co.uk.
The Bradford & Bingley logo is a trade mark of Bradford & Bingley plc and is used under licence.
and this is one of the best STD's one could be proud to have contracted cheaply :)
its a nice holding for any portfolio LOL
Every1 needs a std lol
Just finished reading Barrons "A stock worth buying" great
article in July 20 issue. Just checking our board to see who else follows STD. Pleasant surprise to see a couple of IHubers here too. GLTA
STDs seem to be rocking...
oh yeah..tonight show will dive hard.....
LOL... Just about as much as Conan O'Brien knows huge ratings.
I though you knew everything about STD?
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*** UNDER CONSTRUCTION ***
Banco Santander, S.A. operates as a commercial and private bank primarily in Spain, the United Kingdom, other European countries, and Latin America. It operates in three segments: Retail Banking, Global Wholesale Banking, and Asset Management and Insurance. The Retail Banking segment offers a range of deposit products, including savings, current, demand, time, and notice deposits, as well as international and domestic interbank deposits; and loan products and services, such as auto financing, personal loans, mortgages, and leasing and renting. This segment also offers credit cards, automated cash dispensers, savings books updaters, telephone banking, and electronic and Internet banking. The Global Wholesale Banking segment provides corporate banking, treasury, and investment banking services. Its products and services include commercial financing, funds, trade finance, transactional products, custody services, corporate finance, structured finance, and capital structuring. This segment also engages in the trading and distribution of equities. The Asset Management and Insurance segment involves in the design and management of mutual and pension funds, and insurance products. As of December 31, 2007, the company had 5,976 branch offices in Continental Europe; 704 branches in the United Kingdom; and 4,498 branches in Latin America. It serves individuals, small and medium enterprises, companies, institutional investors, and financial institutions. The company was founded in 1857 and is headquartered in Madrid, Spain.
Dividend Information
One of the reasons to own Santander is the fantastic dividend options that you receive. Yielding far beyond anything you would get in a CD, or fixed income, you have a great, steady (for now) dividend that can be taken in a few ways, cash, warrants, or shares. There are tax savings to taking the dividend in shares. Info can be found here... http://www.santander.com/csgs/Satellite/CFWCSancomQP01/en_GB/Corporate/Shareholders/Shareholders-US/Santander-Scrip-Dividend.html
FINVIZ reports an OS of 8.16B and float of 6.44B shares.
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