BBVA CEO Lifts Profit Outlook After Strong First Quarter [BNN Bloomberg (Canada)]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
US:NYSE Investor Relations:
santander.com/csgs/satellite/cfwcsancomqp01/en_gb/corporate/shareholders-and-investors.html
Company Research
Source: BNN Bloomberg
“We posted excellent results that improve our outlook,” Chief Executive Officer Onur Genc said in a statement on Monday, adding that the lender now expects profit to post “double-digit growth” this year. That compares with a current analyst forecast for an increase of just 2.3%. BBVA's net income in the months through March jumped 19% from a year earlier to €2.2 billion ($2.4 billion), Spain's second-largest lender said in a regulatory filling on Monday. That was well above the €1.95 billion estimated by analysts. Like many European competitors, BBVA has been benefitting from the highest interest rates in recent memory, which have boosted lending margins and led to some of the highest earnings on record. While the effect is expected to level off as the European Central Bank prepares to relax monetary policy, bank profitability is likely to remain high, creating more room for investor payouts. Read More: Europe's Largest Banks Top €100 Billion Profit for First Time BBVA also r
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SAN
Earnings
- 5/1/24 - Miss
SAN
Sec Filings
- 5/14/24 - Form 6-K
- 5/10/24 - Form 13F-HR
- 5/8/24 - Form 6-K
- SAN's page on the SEC website