Santander : Pretty solid start to the year, but it needs to be confirmed
>Forecasts upgraded following Q1, but Neutral rating maintained - Given these solid Q1 2021 figures, our approach is slightly less cautious on Santander's operating outlook in the short-medium term, but we think that there are still a number of uncertainties, notably in connection with the health crisis (Spain, Brazil, Mexico). We have upgraded our net income forecasts by 8% on average for 2021-23e, with a more favourable stance on the CoR trend (-6% revision for 2021...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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