Report
Steven Gould

Santander : T3 2020 globalement encourageant mais encore trop d’incertitudes à CMT

>Rebond rassurant de l’opérationnel au T3 mais à confirmer… - Le groupe a délivré une copie de plutôt bonne facture sur l’opérationnel au T3 2020, caractérisée par un RN sous-jacent sensiblement supérieur aux attentes à 1.75 Md€ (cons ~0.9 Md€). La bonne surprise a été drivée par : :Un rebond notable des revenus (11.1 Md€ vs cons 10.6 Md€, +6% QoQ & -1% YoY) – l’évolution des revenus ‘core’ est positive QoQ (NII +1% vs cons, commissions +2% vs cons) mais une par...
Underlying
Banco Santander S.A.

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Steven Gould

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