Friday, October 31, 2008

Booty acknowledged that continues to explore new purchases despite the financial crisis

Vote Result 0 votes A Emilio Botín, chairman of Santander, is not frightened by the international financial turmoil. Despite the bad news that are published every day from banks in difficulties, remains Botín spirit of the buyer. "At the moment we are not looking any purchase, but that does not mean that we do not continue exploring opportunities," commented loudly Booty São Paulo, the financial capital of Brazil, where he presented the merger of Royal Bank and Santander Brazil. Emilio Botín Sautola Garcia Sanz-de los Rios DEPTH Born: 01-10-1934 Place: (Santander) The news on other websites Websites in Spanish in other languages "This year we have made three purchases" (Sovereign of the United States, Alliance & Leiscester and Bradfort & Bringley, in the UK) "and we are very pleased with the profitability that we are going to give," the first Spanish banker. But the purchases have not been free. The entity has Expanded capital by 4%, 280 million degrees, so it may not meet the objective of raising the earnings per share (EPS) by 15% on average from 2007 to 2009, as promised. Now this ratio is growing at 8.3% despite the regular September net profit rose 15.8%. What I said is that the BPA "will be a 5% higher than that of our top 20 international competitors." With these statements, it is not ruled out that the entity intends to continue using the shares for more purchases. The other message he sent Booty during his presentation in Brazil, on a trip financed by the state, is that despite the crisis, the bank hopes to raise the benefit of next year. The engines will be the UK, which it expects to earn 20% more, and Spain, which could raise their performance by 14% by reduced supplies. However, the president of Santander, which was not so spectacular in his presentation as on other occasions, he wanted to align with the last message from the Bank of Spain, and promised restraint in dividends in 2009. Booty said that Brazil will mean 20% of the group's profit in 2009 and that this country will earn 2250 million. With this account, it appears that the entity expects to achieve approximately 11,500 million net profit next year. Santander is convinced that will come out stronger from this crisis because it has a better financial position than that of its competitors. However, he acknowledged that Spain could go into recession, do not rule out ", although he did not want to make a lot of macroeconomic analysis" because I am no economist, "he said. Ratified the statements of its chief executive, Alfredo Saenz, on the need for liquidity loans to facilitate the government "does not need to be transparent." He also denied that they would ask the government to help them .

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