This morning, Santander announced an excellent set of results for the first half of 2024 – with revenues up by 10%, profit by 16% to €6.1 billion and earnings per share by 19%. Consequently, we have upgraded our revenue, profitability and efficiency targets and expect to reach a return on tangible equity of over 16% at the end of the year. The results demonstrate that our scale, diversification, and the successful execution of our transformation continue to deliver sustainable, profitable growth. We are consistently enhancing the quality of our results: • Improving the products and service we offer every day and growing our customer base by 4 million as a result. • Leveraging the strength of our global scale, including through the deployment of our own industry leading technology, and fostering collaboration among our global business – achieving, for example, 12% growth in collaboration fees in Santander Wealth Management & Insurance from working together with Santander Corporate & Investment Banking and Corporates. • Constantly improving our efficiency, and delivering sustainable, profitable growth for shareholders, with TNAVps plus cash dividend per share increasing 12%. Behind these numbers lie the people, businesses, and communities we are supporting. This first half we have helped 133,000 families and individuals buy a home; nearly 550,000 new SME customers, helping create jobs and economic growth; while supporting more than 700,000 people and businesses through our education, entrepreneurship and employment programs. We estimate a total tax contribution in the first half of more than €10 billion across our footprint, including taxes directly paid by the Group and those collected from our business operations with third parties. In the context of a volatile geopolitical environment, we are confident that we will deliver on the more ambitious targets set out today, thanks to both the strength of our model and strategy, and the quality of our team - to whom I am again extremely grateful. https://lnkd.in/d_RJRsMm
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