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Santander AGM Comments: Not Credit-Moving.

FINANCIALS

Santander headlines (SAN SM) ahead of AGM, not credit-moving:

*SANTANDER CONFIRMS IT IS ON TRACK TO MEET '24 TARGETS
*SANTANDER SEES OVER €6B IN DIV, SHARE BUYBACKS AGAINST 2024


  • Santander has its AGM today (0830 London time) and it’s usual to release a few comments which generally, but not always, are an echo of the recent results statements (from 31-Jan).
  • This does not look to be a credit event. SANTAN’s credit has broadly tightened over the last month, in line with the wider sector move. Having little US exposure and relatively limited CRE gearing, it’s avoiding the current points of fear in the market well.

AGM webcast (if you’re really interested): https://wavedw.santandergroup.net/WS/24JGAPU/?ln=en

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