SANTANDER: 3Q’20 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'20 vs 3Q'19 ResultsN.I.I.: € 7.773 Bn (-11.7% vs. -11.8% expected and -12.9% expected by the market consensus);
Total Revenues: € 11.087 Bn (-11.1% vs. -13.6% expected and -15.0% expected by the market consensus);
Operating Profit: € 6.014 Bn (-10.8% vs. -16.1% expected and -18.2% expected by the market consensus);
Net Profit: € 1.75 Bn (+249.3% vs. +126.0% expected and +79.4% expected by the market consensus);
3Q'20 vs 2Q'20 Results
N.I.I.: € 7.773 Bn (+0.8% vs. +0.7% expected and -0.6% expected by the market consensus);
Total Revenues: € 11.087 Bn (+3.6% vs. +0.6% expected and -1.0% expected by the market consensus);
Operating Profit: € 6.014 Bn (+6.9% vs. +0.6% expected and -2.0% expected by the market consensus);
Net Profit: € 1.75 Bn (-11129 in 2Q'20 vs. 1.132.4 expected and 899.0 expected by the market consensus);
The 3Q’20 results came in far above expectations in all activity margins and in almost all divisions. Spain, Chile and Portugal were the only countries where Net Profit came in below the consensus, specifically, -2.7%, -1.2% and -12.6%, respectively (Portugal accounts for
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.
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