Santander : Broadly encouraging Q3 2020 figures, but still too much uncertainty in the short to medium term
>Reassuring operating recovery in Q3 but it will need to be confirmed - The group turned in pretty good-quality operating numbers for Q3 2020, with underlying net income largely beating expectations at € 1.75bn (cons ~€ 0.9bn). The nice surprise came from:A substantial upturn in revenues (€ 11.1bn vs cons € 10.6bn, +6% q-o-q & -1% y-o-y) – the core revenue trend is positive q-o-q (NII +1% vs cons, fees +2% vs cons) but a portion of the beat also stems from tradi...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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