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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Banco Santander, S.A. Sponsored Adr (Spain) | NYSE:STD | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.10 | 0.00 | 01:00:00 |
By Pietro Lombardi
Banco Santander SA (SAN.MC) reported results for the first quarter on Tuesday. Here's what you need to know:
NET PROFIT: Net profit for the period fell 10% to 1.84 billion euros ($2.05 billion). This compares with analysts' expectations of EUR1.83 billion, according to a consensus forecast provided by FactSet.
REVENUE: Total income fell 1% to EUR12.09 billion, compared with analysts' expectations of EUR12.14 billion.
WHAT WE WATCHED:
-ONE-OFFS: Costs related to asset sales and restructuring in the U.K. and Poland, as well as high inflation in Argentina, hit the bank's results. Santander reported a EUR108 million charge related to restructuring and disposals.
-DIVISIONS: The bank delivered a "mixed set of results, with momentum in Latin America largely offset" by the performance of its operations in Spain and the U.K., Jefferies said.
-CAPITAL: Santander's common equity Tier 1 ratio, a key measure of balance-sheet strength, was 11.25% at the end of March, slightly down from 11.3% in December.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
April 30, 2019 06:06 ET (10:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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