Santander : Unsurprising medium-term strategy but it makes sense broadly
>Medium-term strategy continuing along the same lines - Santander yesterday presented a broadly unsurprising medium-term strategy, the aim being mainly to consolidate/strengthen what was implemented until 2018. A good portion of the financial guidance had already been discussed at the presentation of the Q4 figures (underlying RoTE of 13-15%, FL CET1 ratio of 11-12%) or follows a logical progression relative to the previous plan (C/I ratio of 43-45%, pay out of 4...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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