Report
Steven Gould

Santander : Un T2 2019 qui valide l’essentiel !

>Opérationnel : une copie très correcte - Au T2 2019, Santander est venu confirmer la relative solidité de ses performances opérationnelles déjà affichée au T1, avec un RN assez confortablement supérieur aux attentes à 2.1 Md€ (underlying, +12% vs cons). Après les importants one-offs du trimestre (dont ~0.6 Md€ de charges de restructuration), le RN ressort encore 10% au-dessus à 1.4 Md€. La publication suggère plusieurs messages positifs à savoir : 1/ une meilleu...
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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