Banco Santander S.A. (BNC)

Sector:

Banking

716.00p
   
  • Change Today:
    -39.00p
  • 52 Week High: 770.00p
  • 52 Week Low: 351.00p
  • Currency: UK Pounds
  • Shares Issued: 14,790m
  • Volume: 341,537
  • Market Cap: £105,898m
  • RiskGrade: 357

Santander's Q2 profits slump on restructuring costs, mortgage war

By Caoimhe Toman

Date: Tuesday 23 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Spain's Banco Santander said second quarter profits fell 18% due to restructuring at its Banco Popular unit and the mortgage price war in the UK.


Net profit for the three months to June 30 came to €1.4bn, while underlying profit at the Madrid-based lender rose 5% to €2.1bn.

The bank wrote down an extra €706m in charges with €600m attributable to Spain and the Popular takeover. It agreed a deal with Spanish unions to close 1,150 branches and more than 3,000 job cuts.

Britain accounted for €26m in restructuring costs and €80m for compensation as part of the payment protection insurance scandal. Underlying UK profits fell by 13% to €582m in the first six months.

The job reductions are part of a global plan to reduce annual costs by €1.2bn, or 10% of the annual cost base in Europe. The cuts will affect Europe the most as Santander tries to counter persistently low interest rates that are hurting revenue for lenders throughout the continent.

Santander's interest margin increased by 4%, while credit and client resources increased by 4% and 6%, respectively. Gross margin and net margin grew 1% in the semester, to €24.4bn and €12.8bn, respectively.

Profits in Brazil rose 18% to €1.4bn, with the company looking to diversify into South and Latin America as a way of offsetting European markets still struggling with the aftermath of the 2008 financial crash caused by US and UK banks.

(Writing by Frank Prenesti. Editing by Frank Prenesti and Michele Maatouk)

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BNC Market Data

Currency UK Pounds
Share Price 716.00p
Change Today -39.00p
% Change -5.17 %
52 Week High 770.00p
52 Week Low 351.00p
Volume 341,537
Shares Issued 14,790m
Market Cap £105,898m
RiskGrade 357

BNC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.72% above the market average15.72% above the market average15.72% above the market average15.72% above the market average15.72% above the market average
86.67% below the sector average86.67% below the sector average86.67% below the sector average86.67% below the sector average86.67% below the sector average
Price Trend
8.25% above the market average8.25% above the market average8.25% above the market average8.25% above the market average8.25% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
24.23% above the market average24.23% above the market average24.23% above the market average24.23% above the market average24.23% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
13.21% above the market average13.21% above the market average13.21% above the market average13.21% above the market average13.21% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

What The Brokers Say

Strong Buy 7
Buy 11
Neutral 4
Sell 1
Strong Sell 0
Total 23
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BNC Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Oct-25 29-Apr-25
Paid 03-Nov-25 02-May-25
Amount 11.50¢ 11.00¢

Trades for 17-Oct-2025

Time Volume / Share Price
16:35 3,134 @ 716.00p
16:35 99 @ 716.00p
16:35 56 @ 716.00p
16:35 3 @ 716.00p
16:35 52 @ 716.00p

BNC Key Personnel

CEO Héctor Blas Grisi Checa

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