Santander : CitiBanamex: don’t bite off more than you can chew!
>Outperform rating maintained, target price of € 4.0 unchanged - The recent news flow around the share, which has mainly been driven by press/market speculation concerning the group’s possible interest in acquiring Citi’s Mexican business (CitiBanmex), could disrupt our positive stance. Indeed, even if a move were to allow Santander to come in line with its rival BBVA in Mexico, it would exert sizeable pressure on the group's pro-forma solvency (already an initial stu...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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