Santander Reports Solid Underlying 2Q Results
Narrow-moat Santander reported attributable profit of EUR 1.4 billion for second-quarter 2019. This however includes a net non-recurring restructuring charge of EUR 700 million, underlying profit, which excludes the restructuring charge, of EUR 2.1 billion and is 5% stronger than the corresponding figure reported for second-quarter 2018. Solid revenue growth of 3% year on year was the driving force behind the results. Dollar and Mexican peso weakness offset Brazilian real strength; thus currency...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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