Santander's 1Q Run Rate Below Our Expectations for Full Year
Santander reported attributable profit of EUR 1.8 billion for the first quarter of 2019, which is 10% below its 2018 first-quarter profit. The first-quarter run rate is below our full-year expectations of 7% growth, but the year-ago quarter presented a relatively challenging base; the second quarter will face a softer base. We maintain our narrow moat rating and EUR 5 fair value estimate.Santander's Brazilian business, which contributes 29% to group attributable profits, reported a solid 14% in...
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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