Banco Santander SANYSE: SAN

Santander Brasil released a good set of results, with good trends in revenue growth and cost control. Although the loan portfolio showed only decent growth, this growth was greater than the expansion of NPL, which is positive. Although ROAE has been improving every quarter, it is still below peers, which does not seem to be reflected in the valuation.

Two banks had different reactions after the Budget, with Virgin Money nudging up mortgage rates and Santander reducing the price of borrowing. Accord mortgages also announced reductions.

Banco Santander (Brasil) S.A. presented 3Q24 results, with stable operations, growing assets at about 8%, with stable margins and funding. The market is more wary about Santander because of the increase in interest rates in Brazil, following fiscal, FX, and inflation volatility. Although the concerns are valid, it seems unlikely that the 2021/23 period will repeat, given the much more normalized environment.

Banco Santander, S.A. (NYSE:SAN ) Q3 2024 Earnings Conference Call October 29, 2024 5:00 AM ET Company Participants Begona Morenes - Global Head of Investor Relations Jose Garcia Cantera - Senior Executive Vice-President, Chief Financial Officer Hector Grisi Checa - Chief Executive Officer, Executive Director Conference Call Participants Ignacio Ulargui - BNP Paribas Francisco Riquel - Alantra Alvaro Serrano - Morgan Stanley Antonio Reale - Bank of America Marta Sanchez Romero - Citi Carlos Peixoto - CaixaBank BPI Andrea Filtri - Mediobanca Ignacio Cerezo - UBS Sofie Peterzens - JPMorgan Britta Schmidt - Autonomous Research Chris Hallam - Goldman Sachs Hugo Cruz - KBW Jose Garcia Cantera Good morning, everyone, and welcome to our third quarter earnings presentation.

Santander UK has announced a last-minute delay to its third quarter results as it mulls the implications of last week's Appeal Court ruling on motor finance loan commissions. While the rest of the Spanish-owned group published numbers, the UK business said: “It is not practicable to reliably estimate at this point in time the extent of any potential financial impact.

The Polish arm of Spanish lender Santander posted a 27% jump in third-quarter net profit on Tuesday, supported by lower provisions for loans in Swiss francs and higher core revenues.

Spain's Santander said on Tuesday its net profit in the third quarter rose 12% compared to the same period in 2023 thanks to its retail business' solid performance.

Spain's Santander on Monday said its UK unit postponed the publication of its third quarter results set for Oct. 29 after a London court last week ruled that motor finance brokers must fully inform customers about commissions when taking out car loans.

Spain's Santander has kicked off a round of job cuts at its British unit to save costs, Bloomberg reported on Friday citing people familiar with the matter.