Banco Santander SA (SAN) Stock

Stephen Stanley, the chief U.S. economist at Santander U.S. Capital Markets, appears on 'Power Lunch' to talk about the Federal Reserve's minutes from November.

On Wednesday, the UK branch of Spain's Banco Santander announced that it has reserved 295 million pounds (about $375 million) to address potential expenses linked to a sector-wide investigation into motor finance commissions.

Openbank, Santander's completely digital bank, started its services in Mexico on Tuesday, November 19. According to a press release, the Openbank Mexico website and app are now available, offering a fully digital banking experience with no minimum balance requirements, no fees, and attractive interest rates.

The Spanish banking company Santander began launching its digital Openbank in Mexico on Tuesday, which features a website and a mobile app.

BOSTON--(BUSINESS WIRE)--Santander Bank, N.A. has released results from its Openbank Growing Personal Savings Tracker, showing that many people are losing out on hundreds of dollars annually in interest by not using higher-rate savings options. Over 70% of consumers (71%) are not utilizing these accounts, which include high-yield savings accounts, money market accounts, and certificates of deposit (CDs). Among those who do have a higher-rate account, many are unaware of the benefits.

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA has given preliminary ratings to three types of notes from Santander Drive Auto Receivables Trust 2024-S3 ("SDART 2024-S3"). This is a re-securitization involving part of the Class D notes and the full certificate from the Santander Drive Auto Receivables Trust 2021-3 auto loan deal ("SDART 2021-3"). The Class DX Notes of SDART 2024-S3 are backed by collateral.

Santander Brasil reported strong results, showing positive trends in revenue growth and managing costs effectively. While the loan portfolio grew at a reasonable pace, it outperformed the increase in non-performing loans, which is a good sign. Even though the return on average equity (ROAE) has been rising each quarter, it remains lower than that of its competitors, and this is not reflected in its market valuation.

After the Budget, two banks responded in different ways: Virgin Money increased its mortgage rates, while Santander lowered borrowing costs. Additionally, Accord Mortgages also revealed some price cuts.

Banco Santander (Brasil) S.A. has released its results for the third quarter of 2024, showing steady operations and an asset growth of around 8%, along with stable margins and funding. The market is cautious about Santander due to rising interest rates in Brazil, which are influenced by fiscal, foreign exchange, and inflation fluctuations. While these concerns are understandable, it seems improbable that the situation from 2021 to 2023 will happen again, as the current environment is more stable.