SAN's Business Restructuring Initiatives Driving Growth: Time to Buy?

One of the largest Spanish lenders, Banco Santander, S.A. (SAN) , is undertaking several steps to streamline operations and pivot toward high-growth markets in Europe and the Americas. In sync with this, on May 5, the company announced the sale of approximately 49% stake in its Polish banking business, Santander Bank Polska S.A., to Austrian bank Erste Group for €6.8 billion ($7.7 billion). In addition, Erste Group will acquire 50% of Santander Polska's asset management business (TFI), which is not currentl ...