(News Bulletin 247) – Santander gained more than 4% on Tuesday morning on the Madrid Stock Exchange in reaction to the announcements made by the Spanish banking group on the occasion of its investor day organized in London.
During the meeting, Santander announced in particular that it intended to increase the rate of distribution of its profits to shareholders from 40% to 50% with the acceleration of its growth and the improvement of its profitability.
The group has set itself a target return on tangible equity (RoTE) of 15% to 17% for the next three years, i.e. until 2025, when the market was only considering a ratio of around 13%.
He adds that he is aiming for 200 million customers worldwide by 2025, which corresponds to an average annual growth of 7% to 8%.
The only black spot, according to UBS analysts, is the absence of truly strategic announcements in the form of a simplification of the scope of activity and a targeted program of cost reduction/
The title, up about 32% since the start of the year, gained more than 4% on the Spanish market at the end of the morning.
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