格隆汇2月25日｜西班牙桑坦德银行在伦敦举行的投资者日活动上公布2026-2028年战略路线图。该行承 诺到2028年将年度净利润提升至200亿欧元以上，并计划将有形股本回报率(RoTE)从2025年的16.3%提 升至20%以上的高位水平。 ...

Banco Santander (NYSE:SAN) 2026 Investor Day February 25, 2026 08:00 AM ET Company ParticipantsAlvaro Serrano - Managing DirectorAna Botín - Executive ChairAndrea Filtri - Managing DirectorAntonio Reale - Co-Head of European Banks Equity ResearchBen Toms - DirectorBorja Ramirez - DirectorChristiana Riley - President and CEO of Santander USFrancisco Riquel - Partner and Head of Equity ResearchHugo Cruz - DirectorHéctor Grisi - CEOJavier Garcia-Carranza - Global Head of Wealth Management & InsuranceJohn Ciull ...

Ana Botín | Executive Chair 25 February | London 1 Important information Non-IFRS and alternative performance measures Banco Santander, S.A. ("Santander") cautions that this webcast may contain financial information prepared according to International Financial Reporting Standards (IFRS) and taken from our consolidated financial statements, as well as alternative performance measures (APMs) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authori ...

智通财经APP获悉，在完成对美国韦伯斯特金融公司(WBS.US)具有里程碑意义的收购后，西班牙银行 业巨头桑坦德银行(SAN.US)于2 月 25 日在伦敦举行的投资者日活动上正式公布了其 2026-2028 年战略 路线图。据报道，该行承诺到 2028 年将年度净利润提升至 200 亿欧元以上(约合 236 亿美元)，并计划 将反映盈利能力的核心指标——有形股本回报率(RoTE)从 2025 年的 16.3% 提升至 20% 以上的高位水 平。 这家西班牙银行于周三发布声明表示，自2027年业绩起，该行对分红结构做出调整，把现金分红占利润 的比例提升至35%，同时相应地降低股票回购在利润分配中的占比。此前，该行现金分红与股票回购的 比例大致相当，并且其承诺的将一半利润返还给投资者的这一做法保持不变。 值得一提的是，该行去年净利润表现亮眼，创下141亿欧元的纪录。在周三公布财务目标之前，分析师 对2028年净利润的平均预测值为186亿欧元。 最新目标出台距桑坦德银行同意以120亿美元收购韦伯斯特金融公司尚不足一个月，该交易将成为欧洲 大陆银行对美国贷款机构有史以来最大规模的收购案。 1、若计划结束时CET1比 ...

Core Viewpoint - The bank is focusing on customer growth and the integration of acquisitions in the U.S. and U.K. to enhance profitability and shareholder returns over the next three years [1] Group 1 - The bank is betting on customer growth to improve its financial performance [1] - The integration of acquisitions in the U.S. and U.K. is a key strategy for increasing profitability [1] - The bank aims to boost shareholder returns over the next three years through these strategies [1]

Core Insights - Santander aims to achieve a profit exceeding 20 billion euros ($23.61 billion) by 2028, driven by a profitability ratio increase to above 20% through synergies from recent acquisitions in the U.S. and Britain [1][1][1] Financial Targets - The bank's strategic plan includes a target cost-to-income ratio of around 36% by the end of 2028, down from 41.2% in 2025, and from 45.3% when accounting for additional costs like banking tax [1][1] - Santander plans to operate with a core tier-1 capital ratio of approximately 13% by 2028 [1] Dividend Policy - The current remuneration policy includes a 50% payout ratio, distributed equally in cash and shares. From 2027, the cash proportion will increase to 35%, with around 15% in shares [1][1] Strategic Goals - The bank aims to serve over 210 million customers across Europe and the Americas, focusing on customer growth and disciplined execution of its global business model to drive higher revenues and lower costs [1][1][1]

Core Insights - The FDA has approved Dupixent (dupilumab) as the first and only treatment for allergic fungal rhinosinusitis (AFRS) in patients aged 6 years and older with a history of sino-nasal surgery, marking a significant advancement in the treatment of this condition [2][3][4] Group 1: Approval and Indications - Dupixent is now approved for treating nine distinct diseases driven by type 2 inflammation, including sino-nasal, skin, gut, and respiratory system diseases [6] - The approval was based on the LIBERTY-AFRS-AIMS phase 3 study, which demonstrated significant improvements in sinus opacification scores and nasal symptoms compared to placebo [4][10] Group 2: Clinical Study Results - In the LIBERTY-AFRS-AIMS study, Dupixent improved sinus opacification scores by 50% compared to 10% for placebo at Week 52, with a significant reduction also observed at Week 24 [4][11] - Patient-reported nasal congestion improved by 67% at Week 24 and 81% at Week 52 compared to 25% and 11% for placebo, respectively [7][13] - Dupixent reduced the risk of systemic corticosteroid use and/or surgery by 92%, with only 3% of patients on Dupixent requiring systemic corticosteroids compared to 31% on placebo [13] Group 3: Safety Profile - The safety profile of Dupixent in the LIBERTY-AFRS-AIMS study was consistent with its known safety profile in chronic rhinosinusitis with nasal polyps (CRSwNP), with common adverse reactions including injection site reactions and conjunctivitis [8][9] Group 4: Market Impact and Future Plans - Dupixent's approval is expected to establish a new standard of care for patients with AFRS, addressing a high unmet need in the treatment landscape [9] - Sanofi and Regeneron plan to submit additional applications to regulatory authorities worldwide to expand access to Dupixent [9][17]

Core Viewpoint - Santander's CEO Ana Botin aims to present a more efficient bank with increased cost savings from its digital initiatives, emphasizing growth in core developed markets following significant acquisitions [1] Group 1: Strategic Acquisitions - Santander recently completed a $12.2 billion acquisition of U.S. lender Webster, reinforcing its focus on the U.S. market alongside Spain and Britain [1] - The acquisition of Webster and the previous deal for Britain's TSB are part of Botin's strategy to simplify the bank's structure and enhance profitability [1] - The share of developed markets in Santander's gross operating profit is projected to rise to nearly two-thirds post-acquisitions, up from 56% [1] Group 2: Financial Performance and Goals - Botin aims to increase the bank's profitability ratio to over 20% by 2028, up from 16.3% [1] - Santander's stock has surged approximately 80% over the past year, with the bank's market value now close to 160 billion euros, surpassing UBS as the largest lender in continental Europe [1] - The bank's cost-to-income ratio improved to 41.2% by the end of 2025, down from 44.1%, with further reductions targeted through cost-saving measures [1] Group 3: Cost-Saving Initiatives - Santander plans to create a unified IT platform and operating model to reduce service costs, with expected annual savings from the Webster deal estimated at $800 million and synergies from TSB projected at 400 million pounds [1] - The bank has reduced its workforce by about 14,000 employees over the last two years, bringing the total below 200,000 [1] - Analysts forecast that Santander's M&A and IT transformation could enable a cost-to-income ratio in the 30%-39% range [1]

Group 1 - Sanofi has filed its Form 20-F with the U.S. SEC and its "Document d'Enregistrement Universel" with the French AMF, which includes the Annual Financial Report [1] - These documents contain complete audited financial statements and are available on the company's website as well as the SEC and AMF websites [1] - A hard copy of the financial documents can be requested free of charge [1] Group 2 - Sanofi is an R&D driven, AI-powered biopharma company focused on improving lives and creating growth through innovative medicines and vaccines [2] - The company leverages its understanding of the immune system to develop treatments that benefit millions globally [2] - Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY [2]

Core Insights - Duvakitug, an investigational human monoclonal antibody targeting TL1A, has shown durable clinical and endoscopic efficacy in patients with ulcerative colitis (UC) and Crohn's disease (CD) over a 44-week maintenance period following initial response in the induction phase [1][7] - The study results indicate that duvakitug has the potential to be a leading therapy for inflammatory bowel disease (IBD), with ongoing phase 3 studies to further evaluate its efficacy and safety [2][4] Study Details - The RELIEVE UCCD long-term extension study enrolled 130 patients who had responded to duvakitug in the induction study, with a maintenance period of 44 weeks where patients received either 450 mg or 900 mg doses every four weeks [2][12] - At week 44, 58% of patients on the 900 mg dose and 47% on the 450 mg dose achieved clinical remission in UC, while 55% on the 900 mg dose and 41% on the 450 mg dose achieved endoscopic response in CD [8] Safety and Tolerability - Both doses of duvakitug were well tolerated, with the most common adverse events being upper respiratory tract infection, nasopharyngitis, Crohn's disease, and hypertension, consistent with findings from the induction study [3][7] Industry Context - IBD is characterized by chronic inflammation of the gastrointestinal tract, with approximately 4.9 million cases globally, and the incidence is rising in several regions [5] - There is currently no cure for IBD, and treatment aims to induce and maintain remission while preventing flares [9]