Santander PROBLEMS !! Santander PROBLEMS !!
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  1. #1

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    Default Santander PROBLEMS !!

    Well... it didn't take long did it. I have stated a few times on the BB 'Wait and See' as my answer to those such as AtW that think Santander is strong and immune to the global credit crunch. I also suffered ridicule from other ignorant posters.

    Now read on:




    From the Independent:


    'Santander, the Spanish bank whose UK empire spans Abbey National, Alliance & Leicester and Bradford & Bingley's savings business, is under increasing pressure to raise capital to match European rivals' stronger safety buffers.


    Santander was involved in talks on the UK bailout but turned down the Government's cash. Instead, it moved £1bn from elsewhere in the group to its UK business, boosting the tier-one capital ratio for Abbey-A&L to about 9.25 per cent. Santander's group tier-one ratio stands at a much weaker 7.89 per cent and its core tier-one ratio is 6.31 per cent. Those measures would have been considered strong buffers a month ago but now look thin compared with the European average for major banks of over 9 per cent for core capital, say Merrill Lynch analysts.

    Spain has resisted a recapitalisation plan for its banks after the UK's strengthening of British lenders triggered a wave of cash injections. With Italy now working on its own plan, Spain will be the odd man out among the major European economies. "I am almost sure Santander will need to raise some capital at some point" as part of a Spanish capitalisation plan, a senior investment banker who has worked on several recent European bank bailouts said last week.

    Santander, Spain's biggest bank, has reaped the benefits of its traditional retail banking businesses and the Bank of Spain's insistence that lenders shun racy credit assets and build impairment reserves during the good times. But Spain's property bubble has burst and the country is heading for recession, while Latin America, where Santander makes about a third of its profit, is also looking shaky.

    Simon Maughan, at MF Global, said: "They are not immune to a very deep recession and 6.3 per cent core tier one doesn't cut it in a very deep recession. It is better to do it now than in a year's time." Sandander declined to comment.'

  2. #2

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    Santander to launch €7.2bn rights issue
    MADRID, Nov 10 - Santander has agreed to launch a €7.2bn ($9.24bn) rights issue, priced at a heavy discount to Friday’s closing price, and postpone a series of asset sales until market conditions improve.

    Shares in the Spanish bank opened lower on Monday after it said it planned to price the new shares at €4.50 compared with a closing price on Friday of €8.34. In opening trading in Madrid Santander’s shares fell 3.5 per cent to €8.05.



  3. #3

    Better than AtW

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    This message is hidden because CyberCretin is on your Ignore list.

    Hard Brexit now!
    #prayfornodeal

  4. #4

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    Quote Originally Posted by sasguru View Post
    This message is hidden because CyberCretin is on your Ignore list.

    Something about Northern Rock, Gordon Brown and voting Conservative.

    HTH

  5. #5

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    Quote Originally Posted by Cyberman View Post
    Santander to launch €7.2bn rights issue
    MADRID, Nov 10 - Santander has agreed to launch a €7.2bn ($9.24bn) rights issue, priced at a heavy discount to Friday’s closing price, and postpone a series of asset sales until market conditions improve.

    Shares in the Spanish bank opened lower on Monday after it said it planned to price the new shares at €4.50 compared with a closing price on Friday of €8.34. In opening trading in Madrid Santander’s shares fell 3.5 per cent to €8.05.


    Ah yes, Santander are clearly about to go bust.

    I am beginning to think people are right and that you actually are a moron and not just a WUM.

  6. #6

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    Quote Originally Posted by PM-Junkie View Post
    Ah yes, Santander are clearly about to go bust.

    I am beginning to think people are right and that you actually are a moron and not just a WUM.


    I am not saying that they will go bust, but obviously all is not well, and who wants to invest in a rights issue at this time, bearing in mind that HBOS , RBS and B & B all had them this year!!

    The Spanish economy and property market is taking a dive, so I would not be surprised if the Spanish government has to bail out Santander at some stage. Time will tell.

    I actually think that you are a bit of a moron.

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  8. #8

    My post count is Majestic

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    Quote Originally Posted by Cyberman View Post
    Santander was involved in talks on the UK bailout but turned down the Government's cash. Instead, it moved £1bn from elsewhere in the group to its UK business, boosting the tier-one capital ratio for Abbey-A&L to about 9.25 per cent. Santander's group tier-one ratio stands at a much weaker 7.89 per cent and its core tier-one ratio is 6.31 per cent.
    They had to raise money because they moved cash from elsewhere to avoid going with cap in hand to get bail out from Govt, like almost all big UK banks did.

    So they declined bailout which implies they can handle on their own. If you are worried about bailout declines talk to Barclays.

  9. #9

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    Sasgarbage is on my bore list

  10. #10

    Dirty kapitalist spekulant

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    Quote Originally Posted by Cyberman View Post
    Blah blah blah
    At least your house is still worth what it was at the peak of the boom, you'll be ok
    ǝןqqıʍ

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