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Santander: Data Breach Headlines, Spread Immaterial

FINANCIALS

Santander headlines (SANTAN: Baa1 pos/A-/A-) headlines on data breach; company statement says customers in Chile, Spain and Uruguay are affected by this issue with a third-party hosted database. EU GDPR penalties in this field can be severe but the statement does say no transactional data, passwords or ability to transact was hosted on this database. This looks more like bad PR, perhaps poor for equity sentiment at the periphery but spread immaterial, we feel.

  • SANTANDER IS AWARE OF UNAUTHORIZED ACCESS ONE OF ITS DATABASE
  • SANTANDER: INFORMATION RELATED TO CERTAIN CUSTOMERS ACCESSED
  • SANTANDER SAYS CUSTOMERS ARE BASED IN SPAIN, CHILE, URUGUAY

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