Santander Reports Its Third Quarter; Strong Euro Drags Down Strong Results
Narrow-moat Santander reported solid third-quarter results with attributable profits growing by 7% compared with the third quarter of 2016--this excludes the contribution from the recently acquired Banco Popular. Constant-currency results would have been stronger with growth of around 11%. Revenue growth was in line with our expectations for the full year, but operating costs and loan-loss provisions trended lower than our estimates, driving stronger-than-anticipated bottom line growth. We will ...Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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