Sant Uk.10te% Discussion Threads

[montyhedge] 25/10/2012 18:50

Would not touch with a 10ft barge pole.

[buywell2] 25/10/2012 16:55

Looks like a basket case in the making to me

Spain property market is in meltdown


25 October 2012 Last updated at 09:51

Spanish bank Santander has said its quarterly profits fell by more than 90% after taking provisions for bad property loans in its local market.

Net income fell to 100m euros (£81m) in the third quarter from 1.8bn euros in the same period last year, it said.

The bank also said that UK profit fell 21% to 337m euros in the three months.

So far this year Santander has set aside 3.5bn euros for provisions for property losses - a problem facing all Spanish banks.

The Spanish government has found itself in financial difficulty since the 2008 global financial crisis caused a big crash in the country's over-heated property market, and many fear that it will need a full bailout on top of the banking loan that has already been agreed.

Santander said that total problematic property assets amounted to 18.5bn euros.

"The bank's capacity to generate profit enables us to set aside hefty real estate provisions in Spain in 2012 and significantly increase non-performing loan coverage," Santander chairman Emilio Botin said.

Loans grew in emerging market such as Latin America and Poland and declined in economies that are "deleveraging" - that is, cutting down on debt - such as Spain and Portugal, the bank added.

Spain is struggling with a shrinking economy and 25% unemployment.

Spain's banks will need an injection of 59.3bn euros to survive a serious downturn, an independent audit recently calculated. However, Santander - along with six other banks - was found to have no need for extra capital.

The Spanish government is still hoping to avoid requesting a bailout from the eurozone rescue funds, but many think this is inevitable.

[cwa1] 25/10/2012 08:31

Santander UK results:-



Financial Highlights (9 months ended 30 September 2012 v 2011)

§ Profit before tax of £1,098m, ahead 4% (a).

§ Strong cost management discipline held costs flat, despite inflation and £490m three year business investment programme.

§ Return on tangible book value of 11%.

§ A robust balance sheet: Core Tier 1 Capital ratio of 12.8%; improved loan to deposit ratio of 129% from 132% at September 2011.

Augurs well for continued comfort on SAN and SANB IMHO.

[gary1966] 16/4/2012 14:34

May be of interest. Tendering for some euro denominated fixed interest securities.

[gary1966] 16/4/2012 11:05

Trades at 96.9p and 97p are buys this morning. Dipped my toe back into these with 20K at 96.9. Just in time for once as a few big trades going through shortly afterwards.

[catcheemonkee] 10/4/2012 17:44

Sippdeal have paid on time, but not iii (of course.)

[rbf] 10/4/2012 16:49

in my TD Waterhouse account (or whatever they now call themselves!)

[cwa1] 10/4/2012 15:36

Got it in idealing and selftrade today

[spittingbarrel] 10/4/2012 14:29

Received it in IDealing account but not with Interactive Brokers

[marlint111] 10/4/2012 14:27

Collins Stewart showed divi as being due on Friday 6th. Still no sign of it for me.

Has anyone else received theirs?

[cwa1] 07/3/2012 07:37

So, XD this morning as predicted.

[nandan] 29/2/2012 12:10

It went XD on 7-Sept 2011. So, may be 7th March for this time? I got this from Collins Stewart emails
Prices indicate that it went XD on 2nd March 2011.

[cwa1] 29/2/2012 12:10

Yes, that looks right RBF. Probably first week March and first week September approximately for XD then? Perhaps enviro could change the header if he's about? We'll find out soon enough anyway.

[rbf] 29/2/2012 11:20

surely not....6/4 & 6/10 are the payment dates of the divi

[cwa1] 29/2/2012 11:10

In the header, 6/4 and 6/10 approx.

[rat attack] 29/2/2012 08:24

Does anyone know when these go ex div? Thank you.

[cwa1] 31/1/2012 13:54

Seems reasonable under the circs:-

[cwa1] 27/1/2012 16:39

decent relative strength of late, good to see. Long may it continue...

[yangou] 06/10/2011 08:32

I looked for the ordinaries in my share account and it always kept bringing up euro 50. Also what you say ratattack they have a good yield .Any safer/riskier? i dont believe so as this seems to me to be one good bank out of all the lot thats had trouble lately. Lots of directors buying over the past months too.
Thankkyou for your post also Sicall good information. Still dont know if my wife will buy as she called the bank about the euro 50,s and told her high risk.

[rat attack] 06/10/2011 07:56

you should ask why the ords are yielding 9.8%!! and then make your decision!

[sicall] 06/10/2011 00:30

The obvious risk is that they have further to fall.

I have been buying these regularly from 109p so i am quite a bit underwater. But i am looking at them as a long term holding so this has to be a good buying opportunity.

There are two more serious risks. The worst of which is that they have to be nationalised as part of the Euro debacle, not very likely in my view.

More likely is that they have to be recapitalised by the Spanish Government at some time in the future and that they rule that dividends are suspended until they are paid back.

What i am unclear on is how seperate is Santander UK from the parent company and does that make this issue any safer?

Also with the ordinary shares yielding 9.8% do they represent better value than the prefs?

[yangou] 29/9/2011 15:12

What do you reckon the risks are here chaps. I am aware that generally Preferance shares are the best bet that way and Santander seem to be a very sound bank with these yielding around 10%?. My wife has her account with them and i am suggesting she will get the divi she is looking for here with low risk.

[catcheemonkee] 08/9/2011 10:00

Effectively swapped 10,000 of my NWBD for some more SAN. Got them at 95.7p too, despite the asking price being 98.5p. Happy bunny.

[slj] 07/9/2011 10:55

Yep, good time to buy imho for long term investment. I've got loads of these, picked up when they dip below a £1 :)

[rbf] 07/9/2011 10:53

Price gone xd today (thus explaining the 4p drop)???