 |
| Home page / Log-in |
|---|
|
| Information on Banks |
|---|
|
|
| Information on Insurers |
|
| Information on Markets |
|
| Sig Biz Info Services |
|
| Search for Information |
|
| Computer Translations Übersetzungen Traductions Traduzioni
Traducciones Traduções Oversettelse
|
|
|
|
|
 |
|
|
| Date |
25/07/2001 |
| Companies
|
BANCO SANTANDER CENTRAL HISPANO - |
| Subject
|
BSCH Net Atrib up one third for first half |
| |
| |
Banco Santander Central Hispano reported Net Attributable profits up 33.6% at €1,382m (£843m $1,199m). Share Capital increases caused earnings per share to rise a more modest 15%. The bank attributed this increase to `Strong growth in all margins, effective cost control, sizeable provisioning and a highly diversified earnings base ’. Indeed whilst gross expenses show sizeable increases the bank reports general expenses down on a pro-forma basis by 7.2% on the monthly average for last year.
As previously announced the bank is embarking on major cost reduction including the merging of the Santander and Central Hispano networks in Spain. It is forecasting the cost reductions will increase profits considerably by 2003. The forecast relies on improved profit from South & Central America, something that would have to be achieved against difficult economic forecasts for the regions.
The bank remains well capitalised and appears to have bad debt tightly controlled.
Consolidated income €m 2001 2000 %
NET INTEREST REVENUE 5,152.5 3,723.1 38.39
Net fees and commissions 2,341.8 1,875.4 24.87
_______________________
BASIC REVENUE 7,494.3 5,598.5 33.86
Trading gains 446.9 275.5 62.21
_______________________
Net operating revenues 7,941.2 5,874.0 35.19
Personnel & general expenses (4,287.9)(3,187.0) 34.55
a) Personnel (2,684.9)(2,018.0) 33.04
b) General expenses (1,603.1)(1,168.9) 37.14
Depreciation (591.4) (443.3) 33.41
________________________
NET OPERATING INCOME 3,061.9 2,243.7 36.46
Income from equity
accounted holdings 209.5 344.3 (39.14)
Group transaction earnings 333.0 344.7 (3.40)
Net provisions for loan losses (835.1) (290.3) 187.61
Goodwill amortization (1,303.1) (115.1) --
Other income 909.0 (729.2) --
__________________________
Income before taxes 2,375.3 1,798.2 32.10
Corporate Tax (509.7) (362.8) 40.49
_________________________
Net consolidated income 1,865.6 1,435.4 29.97
Minority interests 223.1 193.0 15.56
Preferred shareholder Dividend 260.7 208.3 25.17
________________________
NET ATTRIBUTABLE INCOME 1,381.9 1,034.1 33.63
€1,000 was trading at £609.7 $867.6
|
| Copyright SigBizInfo Limited © 2001. All rights are reserved. Unauthorised redistribution is Illegal. |
Get up to date information! The information on this web site for banking and insurance market information has not been updated since January 2002. The creators of futurevantage & SigBizInfo are now working with the Newslink team.
If you want newer information then for insurance go to: insurance newslink.
Soon there will also be a banking newslink service as well.
Go to banking newslink for the latest information on this new service. |
 |
 |
 |
 |
 |
| ©Copyright SigBizInfo Limited |
|
Deutsche 
Espanol
Francais
Norsk
Portuguese