Santander Posts Solid 3Q 2018 Results Driven by Operations in Brazil and Spain
Narrow-moat Santander reported solid pretax profits of EUR 3.8 billion for the third quarter of 2018. This is 4% higher than the corresponding period in 2017, if we adjust for currency weakness, particularly from Brazilian real profits before taxes increased by 17% on a constant currency basis. This result is in line with our expectations for the full 2018 fiscal year. We maintain our EUR 5.30 fair value estimate and narrow-moat rating.Banco Santander Brasil (Santander holds 90% of its shares a...
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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