Duvakitug positive phase 2b results demonstrate best-in-class potential in ulcerative colitis and Crohn’s disease Primary endpoints met in ulcerative colitis (UC) and Crohn’s disease (CD), the most common forms of inflammatory bowel disease (IBD) Primary endpoint results in UC and CD for high dose represent the highest achieved with any TL1A monoclonal antibodySanofi and Teva plan to initiate phase 3 development in IBD, pending regulatory discussionsProgram underscores Sanofi's Immunology leadership ambitio ...

Availability of the Q4 2024 Aide-mémoire Paris, France – December 17, 2024. Sanofi announced today that its Q4 2024 Aide-mémoire is available on the "Investors" page of the company's website: Fourth quarter & full year 2024 results (sanofi.com) As for each quarter, Sanofi prepared this document to assist in the financial modelling of the Group's quarterly results. This document includes a reminder on various non-comparable items and exclusivity losses as well as the foreign currency impact and share count. ...

Santander’s fully digital bank, Openbank, launched in Mexico on Tuesday (Nov. 19).The Openbank Mexico website and app are now operating, promising a fully digital bank, no minimum balances, no fees and competitive interest rates, Openbank said in a Tuesday press release.Customers can also access 24/7 telephone support and all 10,000 Santander Mexico ATMs, according to the release.“Openbank Mexico is now a reality for all Mexicans who want to manage their finances quickly, easily, 100% digitally, and with th ...

Long-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, the competitive dynamics of the industries where they participate, and buying companies that we would like to hold independently of how the price moves in the future. Most QC calls will be holds, and that is by design. Only a very sm ...

It's time for me to provide my quarterly update for Banco Santander, S.A. (NYSE: SAN ). Since I last wrote about the bank, we're only up around 3%, with the S&P 500 up around 5%. But I look at the return sinceAnalyst’s Disclosure: I/we have a beneficial long position in the shares of SAN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relati ...

Core Insights - Santander has officially launched its digital banking platform, Openbank, in the United States, marking a significant expansion of its consumer banking operations beyond the Northeast [1] - Openbank features a streamlined onboarding process that can be completed in as little as five minutes through its app or website, enhancing customer experience and reducing operational costs [1] - The launch of Openbank is part of Santander's broader growth strategy to roll out additional banking products in the U.S. by 2025, aiming to provide a full suite of banking services similar to its offerings in Europe [2] Company Strategy - Banco Santander's Executive Chairman, Ana Botín, emphasized the importance of deploying proprietary core and front-end cloud-based technology globally to achieve a sustainable competitive advantage [2] - Openbank aims to offer the best high-yield savings accounts in America, characterized by simplicity, speed, and competitive rates [2] - The launch of Openbank is expected to accelerate Santander's execution of its growth strategy in the U.S., generating deposits to support its leading auto franchise [2] Customer Experience - Openbank is described as one of the most advanced digital banks in Europe, with a focus on providing U.S. customers a superior digital-first service that is fast, simple, and accessible anytime, anywhere [3] - The platform aims to enhance customer experience through a user-friendly interface integrated with core banking infrastructure [1][3] Recent Developments - Santander Consumer has recently expanded its small business offerings to all auto dealers using its platform, allowing small business owners to finance vehicles through its consumer banking division [3]

FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of September, 2024 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its charter) Ciudad Grupo Santander 28660 Boadilla del Monte (Madrid) Spain (Address of principal executive of ice) Indicate by check mark whether the registrant files or will file annual reports under cover of Form ...

Investors interested in Banks - Foreign stocks are likely familiar with Banco Santander (SAN) and National Australia Bank Ltd. (NABZY) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision tr ...

Core Viewpoint - Banco Santander (SAN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that upward revisions can lead to higher stock valuations [4][6]. - For the fiscal year ending December 2024, Banco Santander is projected to earn $0.83 per share, reflecting an 18.6% increase from the previous year, with a 2% rise in the Zacks Consensus Estimate over the past three months [8]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, where Zacks Rank 1 stocks have averaged a +25% annual return since 1988 [7]. - The upgrade of Banco Santander to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Core Viewpoint - Banco Santander has experienced a frustrating period for investors, with shares underperforming broader European financials despite strong business performance and record half-year figures [1][8]. Financial Performance - Santander reported record net interest income of approximately €23.5 billion, fee income of around €6.5 billion, and profit attributable to the parent of about €6.1 billion for the first half of 2024 [4]. - The bank achieved a cost/income ratio of approximately 41.6%, the strongest in fifteen years, and a return on tangible equity (ROTE) of 15.9%, which is within the management's medium-term target range of 15-17% [4][5]. Geographic Performance - The Spanish business, contributing about 25% of H1 earnings, saw net interest income increase over 15% year-on-year to €3.65 billion, with ROTE exceeding 20% [5]. - The Brazilian business reported a nearly 40% increase in net income to €1.1 billion, with ROTE expanding by approximately 380 basis points to over 15.8% [5]. - The U.K. business faced challenges, with net profit down 23% to €630 million and ROTE declining by around 300 basis points to approximately 10.8% due to higher funding costs and elevated operating costs [5]. Cost Management and Credit Quality - Operating expenses increased by 3.5% to €12.9 billion, which is manageable given the inflation rate of around 4% [6]. - Provisioning expenses were €6.2 billion, approximately 117 basis points of total loans, aligning with the management's target of around 120 basis points [6]. Valuation and Returns - Santander's tangible book value (TBV) was reported at €4.94 per share, an increase of about 8% year-on-year, while the stock trades at a price-to-tangible book value (P/TBV) multiple of around 0.80x [7]. - The bank's management has raised 2024 profitability guidance, now expecting a ROTE greater than 16%, which translates to a P/E ratio of about 5x, indicating a 20% earnings yield [7]. - Capital returns are projected at 50% of net income, split equally between dividends and buybacks, suggesting a cash return of approximately 10% per annum for investors [7]. Market Outlook - Despite the recent decline in shares, the underlying business performance remains strong, with profitability in the Spanish market expected to face gradual pressure as Eurozone interest rates fall [8]. - The current valuation presents an attractive opportunity for investors, with potential for double-digit annualized returns from dividends and buybacks alone [8].