Financial Data and Key Metrics Changes - The quarterly profit reached a record of $3.4 billion, making H1 2025 the best first half ever for the company, driven by strong revenue growth across global businesses [4][5] - The CET1 ratio ended the quarter at 13%, at the top end of the 12% to 13% operating range, reflecting a disciplined capital allocation strategy [5][44] - Earnings per share rose to more than $0.43, supported by strong profit generation and fewer shares following buybacks, with TNAV plus cash EPS increasing by 16% [28] Business Line Data and Key Metrics Changes - Retail and consumer, representing 70% of revenue, showed significant upside potential with a 3% increase in deposits and a 16% rise in digital sales [8][12] - Wealth management revenue grew by 14%, driven by record assets under management and strong commercial trends [33][23] - Payments revenue increased by 17%, with double-digit growth in NII and fees, supported by higher activity levels [33][26] Market Data and Key Metrics Changes - Customer activity drove revenue growth across all businesses, with double-digit growth in Wealth and Payments, and strong performance in Corporate and Investment Banking (CIB) [10][33] - The cost of risk improved year on year, with the NPL ratio falling to 2.91%, indicating robust credit quality trends [42][41] - Retail customer deposits grew by 10% year on year, now representing 62% of total funding [18] Company Strategy and Development Direction - The company is focused on transforming into a digital bank with branches, combining technology with personalized support [11] - The ongoing transformation aims to simplify and automate processes, which has already contributed to significant efficiency gains [7][8] - The strategic focus includes expanding partnerships and enhancing product offerings, particularly in the U.S. and Europe [15][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year profitability targets despite a more challenging environment than initially anticipated [50] - The company anticipates continued revenue growth, with NII expected to rise slightly in constant euros, excluding Argentina [51] - Cost of risk is expected to remain stable, supported by resilient labor markets [51] Other Important Information - The company announced an agreement to sell its business in Poland, with figures including Poland until the deal is completed [3] - A new buyback program of up to €1.7 billion was approved, with plans to distribute at least €10 billion to shareholders through buybacks for 2025 and 2026 [28][48] Q&A Session Summary Question: NII in the UK and top-up provisions in Brazil - Management acknowledged the UK as a work in progress, emphasizing ongoing transformation and profitability focus, with expectations for NII to be slightly up [56][58] - In Brazil, management indicated that the cost of risk is expected to normalize, with a focus on secure lending and a conservative approach to strengthen the balance sheet [64][66] Question: Direction of costs and capital generation - Management reiterated guidance for lower costs in current euros for 2025, with ongoing investments in transformation [70][72] - Capital generation is expected to improve in the second half, with excess capital above 13% to be distributed as share buybacks, subject to regulatory approvals [78] Question: Benefits of transformation and consumer segment performance - Management believes that the benefits of transformation are just beginning to be realized, with expectations for further improvements in cost-to-income ratios [81][83] - The consumer segment is experiencing challenges due to lower car registrations in Europe, but management is optimistic about future performance as volumes improve [90][92]

Financial Performance - HSBC announces a $3 billion share buyback [1] - HSBC profits fall short [1] - UBS beats expectations [1] - Santander sees a record second quarter [1] Company Actions - HSBC announces a $3 billion share buyback [1]

Sustainability information H1'25 Earnings Presentation 30 July 2025 Important information Non-IFRS and alternative performance measures Banco Santander, S.A. ("Santander") cautions that this document 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 a ...

Banco Santander posted a record second-quarter profit and announced a new buyback https://t.co/fgiIXIj1kl ...

Core Viewpoint - Sanofi's SAR446523, a GPRC5D monoclonal antibody, has received orphan drug designation from the FDA for the treatment of relapsed or refractory multiple myeloma, highlighting the company's commitment to developing innovative therapies for this rare disease [1][2]. Group 1: Product Information - SAR446523 is an investigational IgG1-based monoclonal antibody designed to target GPRC5D, which is highly expressed on plasma cells, and aims to enhance antibody-dependent cellular cytotoxicity [3]. - The drug is currently undergoing a phase 1 clinical study in patients with relapsed or refractory multiple myeloma, with the clinical study identifier NCT06630806 [3]. Group 2: Disease Context - Multiple myeloma is the second most common hematologic malignancy, with over 180,000 new diagnoses globally each year, yet it remains incurable with a five-year survival rate of approximately 62% for newly diagnosed patients [4]. - There is a significant need for new therapeutic options, particularly for patients who are ineligible for transplants, due to high attrition rates in subsequent lines of therapy [4]. Group 3: Company Commitment - Sanofi is dedicated to advancing oncology treatments and aims to transform cancer care through the development of innovative therapies for rare and difficult-to-treat cancers [5]. - The company emphasizes its commitment to addressing urgent healthcare challenges and improving the lives of patients through its research and development efforts [6].

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric tha ...

Core Viewpoint - Investors are evaluating Banco Santander (SAN) and Bank of Nova Scotia (BNS) for potential undervalued stock opportunities, with SAN currently showing a stronger earnings outlook and valuation metrics [1][3][7]. Valuation Metrics - SAN has a forward P/E ratio of 9.25, while BNS has a forward P/E of 11.45, indicating SAN may be more attractively priced [5]. - The PEG ratio for SAN is 1.00, compared to BNS's PEG ratio of 1.42, suggesting SAN has a better growth-to-price ratio [5]. - SAN's P/B ratio is 1.17, while BNS's P/B ratio is 1.31, further supporting SAN's valuation advantage [6]. Earnings Outlook - SAN is currently experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model [7].

Core Viewpoint - Sanofi's Sarclisa has received approval from the European Commission for the treatment of transplant-eligible newly diagnosed multiple myeloma (NDMM) in combination with bortezomib, lenalidomide, and dexamethasone (VRd) [1][8] Group 1: Approval and Clinical Study - The approval follows a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use on June 19, 2025 [1] - The decision is based on results from the GMMG-HD7 phase 3 study, which showed that Sarclisa-VRd led to a statistically significant minimal residual disease (MRD) negativity benefit at the end of the 18-week induction period [2][8] - The study demonstrated a clinically meaningful improvement in progression-free survival (PFS) for patients treated with Sarclisa-VRd during induction, regardless of the maintenance therapy received [3][8] Group 2: Study Details - The GMMG-HD7 study enrolled 662 patients across 67 sites in Germany, with participants randomized to receive VRd with or without Sarclisa [7] - Sarclisa was administered at a dose of 10 mg/kg through intravenous infusion during the induction phase [7] - The study's primary endpoints included MRD negativity following induction therapy and PFS after post-transplant randomization [8][9] Group 3: Market Position and Future Prospects - Sarclisa is now approved in the EU across all lines of therapy for multiple myeloma, reinforcing its position as an established treatment option [5][8] - The approval reflects Sanofi's commitment to addressing unmet needs in multiple myeloma care and improving treatment outcomes [5][12] - Data from the maintenance portion of the GMMG-HD7 study is forthcoming, which may further support Sarclisa's clinical use [4][8]

Core Viewpoint - Sanofi has successfully completed the acquisition of Blueprint Medicines, enhancing its portfolio with a commercialized medicine and a promising pipeline focused on systemic mastocytosis and other KIT-driven diseases [1][6]. Group 1: Acquisition Details - The acquisition includes Ayvakit/Ayvakyt (avapritinib), the only approved medicine for advanced and indolent systemic mastocytosis in the US and EU [3][10]. - Sanofi also acquired elenestinib, a next-generation investigational medicine for systemic mastocytosis, currently undergoing a phase 2/3 clinical study [4]. - Additionally, BLU-808, an investigational oral KIT inhibitor, was part of the acquisition, targeting a range of inflammatory diseases [5]. Group 2: Financial Aspects - The tender offer for Blueprint's shares was completed on July 17, 2025, with all conditions satisfied [6]. - Sanofi financed the acquisition through cash on hand and proceeds from commercial paper issuances, indicating it will not significantly impact the company's financial guidance for 2025 [7]. - The acquisition is expected to be immediately accretive to gross margin and business operating income, as well as EPS after 2026 [7]. Group 3: Market Impact - Following the acquisition, Blueprint common stock will cease trading on the NASDAQ Global Select Stock Market as of July 18, 2025 [9]. - All shares not validly tendered will convert to a cash payment of $129.00 per share, plus potential contingent payments of up to $6.00 per share based on milestone achievements [8].

Mergers and Acquisitions - Goldman Sachs 同意从 Santander 银行购买约 460 million 欧元（约合 5 亿美元）的西班牙抵押贷款 [1]