Santander's 2016 Performance Proves Resilient in Challenging Banking Environment
Banco Santander reported solid fourth-quarter and full-year results, as the company continues to make progress toward its 2018 targets. We do not plan to change our $5.50/GBX 420/EUR 5.00 fair value estimates or our narrow moat rating. Santander proved resilient in a challenging banking environment in 2016, owing to its diversified business model. Net interest income grew 2.3% on a constant exchange-rate basis to EUR 31.1 billion, in line with our 2016 forecast. The bank also delivered EUR 6.6 b...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.
We have operations in 27 countries.
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