スペインのサンタンデール銀行(Banco santander)の2013年1月ー3月の利益は、利益率の全般的な低下により26％減少して17億3400万0000ユーロに。2013年の利益は2012年の22億9500万0000ユーロより増大の見通し。
El beneficio del Santander cae un 26% por la caída generalizada de márgenes
Latinoamérica y Reino Unido son las unidades que más lastran el resultado
Las provisiones bajan un 6% y la morosidad sube al 4,76%
El banco mantiene el dividendo en acciones este año y deja las opciones abiertas para el futuro
Miguel Jiménez Madrid 25 ABR 2013 - 08:27 CET
sí una recuperación progresiva a lo largo del año.
recapitula el banco.
Santander's profit falls by 26% by the general drop in margins
Latin America and the United Kingdom are the units that most hinder the result
Provisions fell by 6% and delinquencies up to 4.76%
The bank holds the stock dividend this year and leave the options open for the future
Miguel Jiménez Madrid 25 ABR 2013 - 8:27 CET
The Banco Santander's profit fell by 26% in the first quarter of the year to 1,205 million despite lower effort hedges against default and real estate assets. The result is worse in most markets, with Latin America and the United Kingdom as top drag. The decline in profit was due this time to the deterioration of the margins by the general drop in revenue and not the effort provisions. That negative operating performance has been punished by investors in the stock market, where shares of Santander today are the ones that have fallen from the Ibex 35, or 2.35%.
Despite the overall decline in margins, the bank stresses that triples the result obtained in the fourth quarter of 2012 and its chairman, Emilio Botin, is optimistic: "The benefit of 2013 is much higher than the 2.295 million in 2012, after four years in which we have made allowances for 60,000 million, strengthened our capital 20,000 million and strengthened our deposit base by 233,000 million. " "This level is far from our potential," acknowledged the bank's CEO, Alfredo Saenz, in a presentation to analysts. Saenz does not foresee major changes in the coming months, but a gradual recovery throughout the year.
Source: Banco Santander. / COUNTRY
The bank says the results of the first quarter of 2013 show a positive trend over the previous quarter and a less favorable when compared to the same period last year. "This follows the January-March period of 2012 was the best year in income, and that the exercise was more or less, contrary to what is expected for 2013. Indeed, the result obtained in the first quarter and represents 53% of the profit generated throughout 2012, "he explains.
Revenue fell 9% to 10,290 million. "This decline is linked to the slowdown in the major economies, the decline in interest rates (which are at historic lows in euro and Brazilian real, pounds and dollars), and the fact that the group has given priority to maintain strong liquidity positions, "explains the company.
For its part, the costs go down much less, 1% to 4.996 million. "These costs are absorbing investments in new commercial projects and increased capacity in certain areas. Yet collected the synergies of the two major integrations that have started the group in Spain and Poland", recapitulates the bank.
Source: Banco Santander. / COUNTRY
Thus, the profit before provisions fell by 15% to 5.294 million. And although the provisions, of 2,919 million between January and March, are the lowest in the last five quarters and fell by 6% from a year ago, is not sufficient to offset the decline in margins.
More deposits and less credit in Spain
Net Total loans amounted to € 723.814 million euros, representing 109% of the deposits more notes (663 381 000). Before the crisis, in December 2008, the ratio was 150%, with 626 888 000 420 229 000 in loans and deposits. At the end of the first quarter of this year, net loans fell by 3% and deposits up 6% compared to the closing balances of March 2012.
Banco Santander ended the first quarter in Spain with 197.464 million euros in deposits, to which should be added 10.153 million in notes, and 176.462 million in loans, with a 3% drop in gross lending and an increase of 20% in deposits. In the quarter has captured 10,200 million in deposits. The growth of deposits of Banco Santander in the past year has earned 2.3 points of market share in Spain. Retail deposits and promissory notes and loans exceed more than 31.155 million euros. "This development is a result of two factors: the strong deleveraging of the Spanish economy and the growth of deposits of Banco Santander, although the overall market down," the entity.
"The domestic market is distorted by the processes of restructuring and believe it is a great opportunity to attract customers," said Alfredo Saenz, who also noted that certain transfer is occurring to more creditworthy entities, a flight to quality, has said. The tendency to reduce the cost to the bank of these deposits is already starting to show will continue in the coming quarters, according to CEO.
4,500 homes for sale
The group delinquency rate stood at 4.76%, which is 0.22 points higher than the previous quarter. The default points to a stabilization. In Brazil, the rate remains at 6.9% in the rest of Latin America grows tenth to 3.7%, in the UK and the U.S. down one tenth to 2.0% and 2.2% , respectively. In Spain, the NPL ratio was 4.1%, three percentage points more than in December. This ratio does not include arrears of discontinued real estate activities amounting to 56.3%, 2.2 points more than one quarter ahead.
The total volume of assets of discontinued real estate activities in Spain amounted to 11.936 million euros, net of provisions, which is 47% less than a year ago. In the first quarter of this year, 4,500 homes were sold. The amount of net loans amounted to 6.844 million and the property awarded to 3.656 million, after making provisions for an amount representing 51% and 53%, respectively.
By market, attributable profit falls on all relevant except Spain, where it grows by 2.5% after leaving the estate outside the computer. The main drag in operational areas is the loss attributable profit 18.2% in Latin America, where the lower benefit 1207-988000000. Fall is widespread in Brazil (-22.3%), Mexico (-18%) and Chile (-21%). In the UK, the profit attributable falls 23%, 291 to 224 million. In Continental Europe, the biggest drop is in Portugal (-34.3%), where the bank and only earns 21 million. The recoil is lower, at 2.4%, in the United States.
Explanations to analysts
With regard to potential IPOs of subsidiaries, the CEO of Santander, Alfredo Saenz, has said that the only IPO is studying, but without a decision or calendar end or price, is that of financial consumption (mainly cars) in the USA (SCUSA).
As for the dividend policy, when asked about the possibility of returning the cash dividend, Saenz explained that this year will the dividend option (scrip dividend) in the four payments totaling EUR 0.60 action and next year there is just no decision taken in this regard, so that the question was premature. "It will be decided in due course," said. That is, for the period during which no decision taken, the bank keeps the dividend options. For the future, it leaves all options open.
In the conference call with analysts, Saenz has denounced the differences of opinion between supervisors which prevent a proper comparison between banks in different countries. The criteria, said, are more demanding in Spain to measure capital in computing both risk-weighted assets and the use of internal models. Santander has said that if applied less aggressive criteria of other European countries, the core capital ratio (core capital) would improve from 0.9 to 1.5 points, ie, would increase from 10.7% to 11.6 % -12.2%. The bank will publish on its website a report analyzing the situation that Spanish banks have commissioned the consultancy Oliver Wyman.
Analysts have also asked about the bank's expectations of a new royal decree provisions. "We have not received any communication from the Bank of Spain on this. All that is said is pure speculation," he answered Alfredo Saenz, who has said that the bank has made a very strong effort in provisions and does not think it necessary to reinforce .
"We are bottoming out," added Saenz on economic developments in Spain. He explained that although the fall in gross domestic product will be around 1.5%, the profile is improving and expects a slight growth in the fourth quarter. The CEO of Santander has emphasized the correction of the balance of payments and other "very clear signs of improvement." Still, Saenz considers that "credit is not going to grow" despite the "efforts" of the banks and the Government.
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