Banco Santander S.A. (BNC)

Sector:

Banking

375.00p
   
  • Change Today:
      4.50p
  • 52 Week High: 414.00
  • 52 Week Low: 299.50
  • Currency: UK Pounds
  • Shares Issued: 15,494m
  • Volume: 422,595
  • Market Cap: £58,104m
  • RiskGrade: 357

Santander shares drop despite Q3 beat as UK results delayed

By Benjamin Chiou

Date: Tuesday 29 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Shares in Banco Santander slumped on Tuesday despite record third-quarter profits beating analysts' forecasts, as the Spanish banking group announced it was delaying the results of its UK unit owing to this week's landmark ruling on motor finance commissions.

The Court of Appeal on Monday set a higher bar for motor dealers acting as credit brokers, requiring them to disclose commissions paid by lenders more comprehensively to customers.

Late on Monday, Santander UK said it was delaying its third-quarter results, adding: "It is not practicable to reliably estimate at this point in time the extent of any potential financial impact."

In an interview with Bloomberg TV, Banco Santander chief financial officer Jose Garcia Cantera said the impact of the motor financial ruling would not be material, estimating less than €600m in net income. However, other analysts, such as those at RBC Capital, expect the hit to be closer to €1.3bn.

Shares were down 3.2% at €4.48 by 1047 in Madrid, while London-listed shares were 3.1% lower at 371.62p.

The development was overshadowing results from the parent group on Tuesday, which reported a 12% year-on-year increase in net profit to €3.25bn in the third quarter, comfortably ahead of the €3.1bn consensus forecast.

Total income improved by 2% to €15.14bn, with the company hailing strong revenue growth across all global businesses and regions, as well as the addition of 5m new customers.

Also helping the bottom line was a 9% fall in net loan-loss provisions to €2.98bn, and a 2% drop in operating expenses to €6.35bn.

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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 375.00p
Change Today 4.50p
% Change 1.21 %
52 Week High 414.00
52 Week Low 299.50
Volume 422,595
Shares Issued 15,494m
Market Cap £58,104m
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
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above 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
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% 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
16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% 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
46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average

What The Brokers Say

Strong Buy 10
Buy 7
Neutral 6
Sell 1
Strong Sell 0
Total 24
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-24 29-Apr-24
Paid 01-Nov-24 02-May-24
Amount 10.00¢ 9.50¢

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 11,342 @ 375.00p
16:35 9 @ 375.00p
16:35 11 @ 375.00p
16:35 178 @ 375.00p
16:35 250 @ 375.00p

BNC Key Personnel

CEO Héctor Blas Grisi Checa

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