Santander share picks up: Santander’s business is thriving

Business continued to be strong in the first quarter, the institute reported at the general meeting on Friday in Madrid. The bank’s revenue was in line with the previous quarter, it said, and lending has returned to pre-pandemic levels, with an expected increase of eight percent year-on-year. The adjusted return on tangible equity was also above the annual target of 13 percent.

Things had already gone well for the Spaniards last year. After losing billions in the first Corona year, Santander had achieved a surplus of 8.1 billion euros in 2021 than before the outbreak of the crisis in 2019.

The bank intends to announce the exact figures for the first quarter on April 26th. Bank boss Ana Botin meanwhile confirmed the goals for the entire year. “We assume that we can maintain the high profitability in the Americas while improving profitability in Europe,” said the manager

At the general meeting, the shareholders are to decide on the final dividend for 2021 before the weekend. A payment of 5.15 euro cents per share is proposed. Should this be approved, Santander says it will pay out a total of 3.4 billion euros to its investors, including share buybacks.

On the stock exchange in Madrid, the Santander share temporarily rose by 2.82 percent to EUR 3.1875.

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MADRID (dpa-AFX)

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