Santander: stock sailing after annual results

(CercleFinance.com) - The Santander share is up 3.
8% in Madrid on Wednesday morning, despite the Spanish banking group publishing net attributable profit that is down 17% to 6.51 billion euros for 2019, weighed on by goodwill impairment in the UK and restructuring costs.

Excluding extraordinary charges, attributable earnings increased by 2% to 8.25 billion euros (+3% at constant exchange rates), supported by new growth in customers and business volumes.

Aurel BGC says that Santander expects to report EPS growth of between 5% and 10% p.a. over the next three years. This year its CET1 should reach 12%. The bank plans to pay out a slighly higher dividend totalling 23 cents.


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