Santander


A RoTE objective too far

25/02/26 -"The management confirmed its 2028 upbeat financial objectives and disclosed its new remuneration policy. The positive share price reaction shows that it managed to partly reassure investors vis-à-vis ..."

Pages
69
Language
English
Published on
25/02/26
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25/02/26
We have upgraded our projections on SEB after having integrated 2025 results. Much of our upgrade results from an upgrade in our macro scenario on ...

25/02/26
The management confirmed its 2028 upbeat financial objectives and disclosed its new remuneration policy. The positive share price reaction shows that ...

25/02/26
The group posted stronger-than-expected quarterly results, enabling the management to upgrade its RoTE guidance for the next three years. However, ...

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• Operating income rose by 32% to €78m for 2025, compared to 2024. • The pre-tax profit was €6.4m for FY2025, compared to a loss of €8.5m for 2024. • ...

EXECUTIVE SUMMARY

Updates Pension Risks
Target & Opinion Governance & Management
Business & Trends Graphics : Momentum
Money Making Graphics : MACD & Volumes
Debt Graphics : Sensitivities
Valuation Sector: Performance
DCF Sector: Key data
NAV/SOTP Sector: Ratios & Valorisation
Worth knowing Sector: Peers
Financials Sector: Analysis

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