Javier San Félix. The Rise of Emerging Market. What are the implications for financial stability? WB / IMF/ FED, June 7 th 2013

Size: px
Start display at page:

Download "Javier San Félix. The Rise of Emerging Market. What are the implications for financial stability? WB / IMF/ FED, June 7 th 2013"

Transcription

1 Javier San Félix Head Banco Santander America Division The Rise of Emerging Market Financial Institutions: What are the implications for financial stability? WB / IMF/ FED, June 7 th 2013

2 2 Emerging countries are leading the way in the world economy GDP WORLD ADVANCE ECONOMIES VS. EMERGING COUNTRIES 70,000 Emerging Ec. 60,000 50,000 Advanced Ec. 38% 40,000 30,000 20% 20,000 10, % 62% Latin America GDP /US$ Bln, PPP adjusted) INCOME PER CAPITA GROWTH IN US$ PPP 7,000 6,000 5,000 4,000 3,000 2,000 1, ,8 X ,000 12,000 10,000 8, ,000 4,000 2, ,1 X

3 Latin America: economic improvement has consolidated an emerging g middle class in the region Latin America % GDP growth Average =4,0 Latin America s great transformation since the early 90's has been its emerging middle class consolidation ,6 73,5 63, % % % % Average =2 Average =2, D & E classes Middle class AB class

4 : Eight years of fast development in Latin America (as a % of GDP) Credit to the private sector Argentina Brazil Chile Colombia Mexico Peru Source: World Bank, May 2013

5 5 Banking systems in LATAM Latin America keeps growing at double-digit rates Savings Credit 2,140 2,450 2,741 1,284 1,535 1,778 1, , Dec-09 Dec-10 Dec-11 Last. Av. Dec-09 Dec-10 Dec-11 Last. Av.

6 Latin America is in the forefront of implementation of new financial regulation and with solvent and liquid balance-sheets 6 Status of adoption of Basel III Final rule Final rule published Draft rule published Mexico Argentina Brazil United States European Union Source: BIS, May 2013 Solvency and liquidity indicators Argentina Brazil Chile Mexico Peru USA Germany UK Capital to Assets Liquid Assets to Total Assets Source: Financial Soundness Indicators (FSI), World Bank, May 2013

7 7 Santander has weathered the crisis Profits Recurring results even in tough times Pre-provision profit (net margin) (billions of euros) 2012 A new record Top 3 worldwide CAGR: +16%

8 8 Due to its geographical diversification Balance between mature and emerging markets First quarter 2013 attributable profit by geographic segments (*) Germany 5% Spain 11% Portugal 1% Poland 4% Brazil 26% Other Europe 4% Mexico 13% UK 12% USA 12% Chile 5% Rest of Latin America 3% Argentina 4% (*) Ordinary attributable profit by operating area excluding discontinued real estate activity in Spain

9 9 and its Business Model Commercial focus The commercial model focuses on satisfying the needs of different types of customers Attributable profit in 2012 (by business area) 78% Retail Top World Banks: Loan/Assets (%) Asset Management and Insurance 4% Commercial Banking 74% Global Wholesale l Banking 22% Ba ank 1 SA AN Ba ank 2 Ba ank 3 Ba ank 4 Ba ank 5 Ba ank 6 Ba ank 7 Ba ank 8 Ba ank 9 Ban nk 10 Ban nk 11 Ban nk 12 Ban nkn13 Ban nk 14 Source: Bank data The international bank with the most branches: 14,392

10 10 With a differential structure of self-standing subsidiaries Subsidiary model Internationalization through subsidiaries that are autonomous in capital and liquidity The Group s subsidiaries are local banks to all intents and purposes: They are subject to local legislation and regulation They are supervised by local authorities Their deposits are guaranteed by local guarantee funds There is no transfer of deposits or capital between Group units

11 11 Our subsidiary model prevents the contagion of risk between Group units Subsidiary model Credit growth in Santander subsidiaries (2008=100, in local currency) Spain Brazil Chile(as a % of GDP) Mexico While foreign banks lending growth to most emerging market regions contracted sharply, lending to Latin America was significantly more resilient [ ] foreign banks involvement in LAC has differed in fundamental ways from that in other regions, with most of their lending conducted by their local subsidiaries Source: Santander, may 2013 (2010) Kamil, H. and Kulwant, R, The Effect of the Global Credit Crunch on Foreign Banks Lending to Emerging Markets: Why Did Latin America Fare Better? Working paper 10/102 IMF. Spanish banks [ ] behave more like domestic banks and do not amplify the impact of foreign shocks on credit and interest rates. Source: (2010) Izquierdo, A. and Rojas-Suárez, L. Financial Integration and Foreign Banks in Latin America: How Do They Impact the Transmission of External Financial Shocks? Working paper, IADB

12 12 Taking advantage of Group strengths Subsidiary model Benefit from the Group's corporate policies Corporate Governance Sharing best practices Tecnological environment Product development Risk management Brand name

13 Results seem to back our model Subsidiary model Preserving the local touch Banks: Top 75 in market capitalization Santander Group Santander Brazil Santander Mexico IPOs: Brazil (2009) Chile (2011) México (2012) 2 out of the 5 biggest commercial banks 13 ICBC Wells Fargo HSBC China Construction Bank JP Morgan Chase Citi Group Agricultural Bank of China Bank of America Bank of China Commonwealth Bank Mitsubishi UFJ Westpac Bank Royal Bank of Canada Itaú Unibanco Australia and NZ Bank Goldman Sachs Group Sberbank Banco Santander Toronto Dominion Bank National Australia Bank BNP Paribas Banco Bradesco UBS Bank of Nova Scotia oyds Bank S Bancorp Barclays Sumitomo Mitsu Royal Bank of Scotland Standard Chartered Bank of Communications Mizuho Financial Group ordea Bank BBVA Morgan Stanley China Merchants Bank Deutsche Bank Credit Suisse Allied Irish Banks Bank of Montreal Industrial Bank PNC BOC Hong Kong Banco do Brasil Nomura DBS Group Societee Generale Unicredit China Citic Bank Hang Seng Bank Shangai Pudong Devel Bank Canadian Imperial Bank Intesa Sanpaolo Oversea Chinese Bank DFC Bank State Bank of India Svenska Handelbanken Swedbank No Ll U D H Banco Santand der (Brasil) Mala ayan Bank Qatar Nat ional Bank Bank Ce entral Asia DNB ASA Al R Rajhi Bank United Over seas Bank Turkiye Garanti Bankasi ICCI Bank Bank Mandiri Persero Credit Agricole Skandinaviska Enskilda Bank Rakyat BB&T Corp Akbank Grupo Fin Santander Siam Comme ercial Bank Source: Bloomberg, May 2013 of the region

14

15 15 Due to its Geographical Diversification (II) With significant shares in 10 main markets (data as of 12/31/2012) USA Sovereign Branches: 722 Customers: 1.7 mln Brazil Share 1 : 10% Branches: 3,788 Customers: 27.3 mln UK 4 Share 5 : 12% Branches: 1,189 Customers: 26.2 mln Mexico Share 1 : 14% Branches: 1,170 Customers: 10.0 mln Argentina Share 1 : 9% Branches: 370 Customers: 2.4 mln Germany Share 3 : 14% Branches: 296 Customers: 6.5 mln Chile Share 1 : 19% Branches: 504 Customers: 3.5 mln Portugal 4 Share 1 : 10% Branches: 667 Customers: 2.3 mln (1) Credits (2) Business total, including Kredyt Bank (4) Includes Santander Consumer Finance business (3) Consumer term loans (5) Includes all mortgage loans, UPLs, and SMEs Spain 4 Share 1 : 13% Branches: 4,683 Customers: 15.0 mln Poland 2, 4 Share: 9% Branches: 1,062 Customers: 5.8 mln

Evolving Business Models and Capital Markets Contexts:

Evolving Business Models and Capital Markets Contexts: Evolving Business Models and Capital Markets Contexts: The Santander Model May 2012 José Antonio Álvarez CFO Grupo Santander Santander: key figures 2 Highlights Total Assets (EUR trillion) 1.25 Headcount

More information

GLOBAL SYNDICATED LOANS

GLOBAL SYNDICATED LOANS GLOBAL SYNDICATED LOANS LEAGUE TABLES FY 215 FY 215 MANAGER RANKINGS GLOBAL SYNDICATED LOANS CONTENTS 1. Global market review 2. US market review 3. Canada market review 4. Latin America market review

More information

Strength against the crisis: The experience of Banco Santander

Strength against the crisis: The experience of Banco Santander Matías Rodríguez Inciarte Vicepresident Banco Santander Strength against the crisis: The experience of Banco Santander Washington, October 9 th 2012 Peterson Institute Agenda 1. A challenging economic

More information

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013

Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 Press Release Banco Santander s profit rose 90% to EUR 4.370 billion in 2013 BUSINESS. Deposits were stable at EUR 607,836 million, while mutual funds grew by 14% to EUR 93,304 million. Loans decreased

More information

The new European Banking Union landscape. Dirk Schoenmaker, Duisenberg school of finance

The new European Banking Union landscape. Dirk Schoenmaker, Duisenberg school of finance DSF POLICY BRIEFS No. 35/ October 2014 The new European Banking Union landscape Dirk Schoenmaker, Duisenberg school of finance Abstract The countries participating in the new European Banking Union have

More information

Warsaw, January 14 th 2015

Warsaw, January 14 th 2015 Warsaw, January 14 th 2015 1 Index 2 Santander at a glance. 3-7 Santander Recovery Plan. Project and general content. Santander Recovery Plan. Some relevant elements. 2-3 9-11 4-6 13-18 Open questions

More information

Santander in the world

Santander in the world Santander in the world Santander in Olive trees more than 1,000 years old at Grupo Santander City, Boadilla del Monte, Madrid The results of clearly show the Bank s capacity to solidly weather this difficult

More information

The SWIFT global payments innovation initiative. December, 2016

The SWIFT global payments innovation initiative. December, 2016 The SWIFT global payments innovation initiative December, 2016 The journey so far December 2015 January 2016 April 2016 June 2016 September 2016 The correspondent banking model is under pressure Customers

More information

9. Thüringer Außenwirtschaftstag

9. Thüringer Außenwirtschaftstag 9. Thüringer Außenwirtschaftstag 12. November 2015 Anke Bülow und Carsten Gnoth Business & Corporate Banking Sachsen, Sachsen-Anhalt, Thüringen WF JPM HSBC BAML SAN Citi Lloyds BNP Credit Suisse DB UniCredit

More information

COMMODITY YELLOW CORN GRADE # 2

COMMODITY YELLOW CORN GRADE # 2 DECEMBER th 2014. (This document loses its validity on DECEMBER, 2014). COMMODITY YELLOW CORN GRADE # 2 SPECIFICATIONS: YELLOW CORN GRADE 2 HUMAN FEED TEST: weight min 70 kgs per hl FOREIGN MATTER: 3,00%

More information

Press Release. 13 February, 2014 Atul Sodhi, Chairman, APLMA tel: +(852) Janet Field, Managing Director, APLMA tel: +(852)

Press Release. 13 February, 2014 Atul Sodhi, Chairman, APLMA tel: +(852) Janet Field, Managing Director, APLMA tel: +(852) Press Release For Immediate Release Contacts for further information: 13 February, 2014 Atul Sodhi, Chairman, APLMA tel: +(852) 2826 9808 Janet Field, Managing Director, APLMA tel: +(852) 2826 3500 APLMA

More information

Ranking of Top 100 World Banks Total Assets The Bankers' Almanac

Ranking of Top 100 World Banks Total Assets The Bankers' Almanac Ranking of Top 100 World Banks Total Assets The Bankers' Almanac Reed Business Information, West Sussex, United Kingdom These are the largest commercial banks in the world and are provided for reference

More information

DECEMBER th 2014 (This document loses its validity on DECEMBER, 2014). COMMODITY GMO SOYA BEANS GRADE # 2

DECEMBER th 2014 (This document loses its validity on DECEMBER, 2014). COMMODITY GMO SOYA BEANS GRADE # 2 DECEMBER th 2014 (This document loses its validity on DECEMBER, 2014). COMMODITY GMO SOYA BEANS GRADE # 2 SPECIFICATIONS: GMO SOYA BEANS GRADE # 2 SOYA BEAN GRADE 2 GMO: suitable for human consumption

More information

The Top Ten Global Retail Banks: Positioning, Performance and SWOT Analyses

The Top Ten Global Retail Banks: Positioning, Performance and SWOT Analyses Brochure More information from http://www.researchandmarkets.com/reports/651540/ The Top Ten Global Retail Banks: Positioning, Performance and SWOT Analyses Description: Benchmark the performance of the

More information

% of Amortized INVESTMENT CATEGORY

% of Amortized INVESTMENT CATEGORY Fund Name Morgan Stanley Institutional Liquidity Funds - Prime Portfolio Statement Date Unaudited Holdings as of April 30, 2016 WAM (Days) 23 Days WAL (Days) 35 Days Net Assets 19,742,684,083 EFFECTIVE

More information

IAA 2015 Santander Support to the Automotive Sector in Mexico

IAA 2015 Santander Support to the Automotive Sector in Mexico IAA 2015 Santander Support to the Automotive Sector in Mexico September 2015 Santander Group: one of the world s leading banks 2 Founded in 1857 regional bank since 1985 No. 6 in Spain No. 152 worldwide

More information

Operational risk capital: Nowhere to hide

Operational risk capital: Nowhere to hide Regulatory November 2014 brief A publication of PwC s financial services regulatory practice Operational risk capital: Nowhere to hide Overview The Basel Committee on Banking Supervision (BCBS) last month

More information

BBVA, a unique choice in the new normal of the financial industry. Manuel González Cid, CFO

BBVA, a unique choice in the new normal of the financial industry. Manuel González Cid, CFO BBVA, a unique choice in the new normal of the financial industry Manuel González Cid, CFO BNP Invest in Spain Conference January, 11th 2012 1 Disclaimer This document is only provided for information

More information

Frankfurt, June 5th 2009. Goldman Sachs European Financials Conference Mr. Roberto Higuera, CEO

Frankfurt, June 5th 2009. Goldman Sachs European Financials Conference Mr. Roberto Higuera, CEO Frankfurt, June 5th 2009 Goldman Sachs European Financials Conference Mr. Roberto Higuera, CEO Disclaimer This presentation has been prepared by Banco Popular solely for purposes of information. It may

More information

The list of licensed financial institutions

The list of licensed financial institutions City Banks and Trust Banks Total 35 banks Business category The name of a financial City Banks Mizuho Bank,Ltd. Sumitomo Mitsui Banking Total 4 banks Corporation The Bank of Tokyo- Mitsubishi UFJ,Ltd.

More information

BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. Wells Fargo (Lux) Worldwide Fund

BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. Wells Fargo (Lux) Worldwide Fund Argen na CITIBANK, N.A. BUENOS AIRES BRANCH Australia Austria HSBC BANK AUSTRALIA LIMITED FOR THE HONGKONG AND SHANGHAI DEUTSCHE BANK AG, VIENNA BRANCH Belgium DEUTSCHE BANK AG, AMSTERDAM BRANCH Brazil

More information

Matías Rodríguez Inciarte Vice Chairman

Matías Rodríguez Inciarte Vice Chairman Matías Rodríguez Inciarte Vice Chairman Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places

More information

Emilio Botín: We will maintain our shareholder remuneration of EUR 0.60 a share in 2012 for the fourth year running

Emilio Botín: We will maintain our shareholder remuneration of EUR 0.60 a share in 2012 for the fourth year running Press Release Banco Santander Annual General Meeting Emilio Botín: We will maintain our shareholder remuneration of EUR 0.60 a share in 2012 for the fourth year running Banco Santander is a powerful and

More information

Top 100 Rated Banks: S&P Capital Ratios And Rating Implications

Top 100 Rated Banks: S&P Capital Ratios And Rating Implications Top 100 Rated Banks: S&P Capital Ratios And Rating Implications Primary Credit Analysts: Stefan Best, Frankfurt (49) 69-33-999-154; stefan_best@standardandpoors.com Hans Wright, London (44) 20-7176-7015;

More information

Our journey to a single global brand. Dr. Manfred Stuettgen, Global Head of Branding Lugano, March 11, 2011

Our journey to a single global brand. Dr. Manfred Stuettgen, Global Head of Branding Lugano, March 11, 2011 Our journey to a single global brand Dr. Manfred Stuettgen, Global Head of Branding Lugano, March 11, 2011 Management Summary Credit Suisse provides financial solutions to private and corporate clients

More information

Section 4: Treasury Management Strategy, Investment Strategy, Prudential Indicators and Minimum Revenue Provision Policy 2014/15

Section 4: Treasury Management Strategy, Investment Strategy, Prudential Indicators and Minimum Revenue Provision Policy 2014/15 Section 4: Treasury Management Strategy, Investment Strategy, Prudential Indicators and Minimum Revenue Provision Policy 2014/15 Appendix E Annual Investment Strategy 2014/15 1. The Annual Investment Strategy

More information

How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell

How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Case Study - 2012 How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Is it possible to increase client relationship efficiency and revenue by collect, analyze

More information

José González de Castejón (787) 759-9094 Ana Calvo de Luis (212) 350-3903 Margie Alvarez (787) 250-3025

José González de Castejón (787) 759-9094 Ana Calvo de Luis (212) 350-3903 Margie Alvarez (787) 250-3025 Santander BanCorp Press release For more information contact: Puerto Rico New York José González de Castejón (787) 759-9094 Ana Calvo de Luis (212) 350-3903 Margie Alvarez (787) 250-3025 SANTANDER BANCORP

More information

Debt Issuance Programs

Debt Issuance Programs Debt Issuance Programs Debt Issuance Programs are covering several issues on a roll over basis. The contractual program amount of such a program may not necessarily be identical with the current utilization.

More information

Ana Botín. Group Executive Chairman Opening Presentation

Ana Botín. Group Executive Chairman Opening Presentation Ana Botín Group Executive Chairman Opening Presentation Banco Santander, S.A. ("Santander"), Santander UK Group Holdings ( Santander UK ) and Banco Santander (Brasil) S.A. ( Santander Brasil ) all caution

More information

Santander Asset Management Focus on LATAM. Sao Paulo, May 2011

Santander Asset Management Focus on LATAM. Sao Paulo, May 2011 Santander Asset Management Focus on LATAM Sao Paulo, May 2011 2 Santander Asset Management advise that this presentation contains representations regarding forecasts and estimates. Said forecasts and estimates

More information

DECEMBER TH 2014 (This document loses its validity on DECEMBER, 2014). SUGAR IC 45 BRAZIL

DECEMBER TH 2014 (This document loses its validity on DECEMBER, 2014). SUGAR IC 45 BRAZIL DECEMBER TH 2014 (This document loses its validity on DECEMBER, 2014). SUGAR IC 45 BRAZIL SPECIFICATION: WHITE REFINED SUGAR Icumsa 45 for human consumption shall conform to international specifications

More information

Why Credit Suisse? Private Banking & Wealth Management 3Q2014

Why Credit Suisse? Private Banking & Wealth Management 3Q2014 Why Credit Suisse? Private Banking & Wealth Management 3Q2014 October 2014 Disclaimer Cautionary statement regarding forward-looking statements This presentation contains forward-looking statements that

More information

Its context and value in volatile markets. Lynn Mathews CLS Services

Its context and value in volatile markets. Lynn Mathews CLS Services CLS: Its context and value in volatile markets Lynn Mathews CLS Services www.cls-group.com CLS and the CLS Logo are registered trademarks of CLS UK Intermediate Holdings Ltd 2008 CLS UK Intermediate Holdings

More information

Fidelity Institutional Liquidity Fund GBP holdings 22th July Issuer Type Maturity Weight Value Moody's Rating Coupon Country

Fidelity Institutional Liquidity Fund GBP holdings 22th July Issuer Type Maturity Weight Value Moody's Rating Coupon Country Fidelity Institutional Liquidity Fund GBP holdings 22th July 2016 Headline Characteristics Reporting Type TNA 1,036,964,144 BILL 4.82% WAM (days) 53 CASH 0.00% WAFM (days) 54 CD 26.40% Median Maturity

More information

Royal Bank of Canada Investor Presentation

Royal Bank of Canada Investor Presentation Royal Bank of Canada Investor Presentation Winter 200 RBC INVESTOR PRESENTATION Caution regarding forward-looking statements From time to time, we make written or oral forward-looking statements within

More information

J.P. Morgan Money Market Funds

J.P. Morgan Money Market Funds Annual Report J.P. Morgan Money Market Funds February 29, 2016 JPMorgan Prime Money Market Fund JPMorgan Liquid Assets Money Market Fund JPMorgan U.S. Government Money Market Fund JPMorgan U.S. Treasury

More information

To be The Most Convenient and Trustworthy Bank in Japan

To be The Most Convenient and Trustworthy Bank in Japan 24,185 OUTLETS The number of JApAN post BANk outlets in Japan special Feature To be The Most Convenient and Trustworthy Bank in Japan JApAN post BANk has continued to make consistent efforts to fulfill

More information

GLOBAL CAPITAL MARKETS

GLOBAL CAPITAL MARKETS GLOBAL CAPITAL MARKETS LEAGUE TABLES H1 2016 H1 2016 MANAGER RANKINGS GLOBAL CAPITAL MARKETS The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array

More information

ASEAN Capital Market Integration and Lessons from the European Union

ASEAN Capital Market Integration and Lessons from the European Union ASEAN Capital Market Integration and Lessons from the European Union 44 th IAFEI World Congress: Global Recovery Amidst Reforms Makati Shangri-la 16 October 2014 Thiam Hee Ng, Senior Economist Asian Development

More information

Florida Prime Holdings Report

Florida Prime Holdings Report ASB Finance Ltd. CP4-2 COMMERCIAL PAPER - 4-2 11/9/2016 95,000,000 0.88 $94,859,294 $94,921,466 ASB Finance Ltd. CP4-2 COMMERCIAL PAPER - 4-2 1/18/2017 20,000,000 0.99 $19,928,867 $19,946,613 ASB Finance

More information

THE FOREIGN EXCHANGE JOINT STANDING COMMITTEE Threadneedle Street London EC2R 8AH

THE FOREIGN EXCHANGE JOINT STANDING COMMITTEE Threadneedle Street London EC2R 8AH THE FOREIGN EXCHANGE JOINT STANDING COMMITTEE Threadneedle Street London EC2R 8AH In October 2011, 30 financial institutions active in the UK foreign exchange market participated in the fifteenth published

More information

The Santander business model

The Santander business model The Santander business model Commercial focus Efficiency Disciplined use of capital and financial strength Santander brand Prudence in risk Geographic diversification and model of subsidiaries Banco Santander

More information

BBVA: Strength in the current challenging environment

BBVA: Strength in the current challenging environment BBVA: Strength in the current challenging environment BBVA South America: A growth engine that reinforces BBVA s positive outlook Vicente Rodero, Head of BBVA South America Spanish Banks Day Ahorro Corporación.

More information

Annual Report 31 August 2015. SSGA Funds Money Market Funds SSGA Money Market Fund SSGA U.S. Government Money Market Fund

Annual Report 31 August 2015. SSGA Funds Money Market Funds SSGA Money Market Fund SSGA U.S. Government Money Market Fund Annual Report 31 August 2015 SSGA Funds Money Market Funds SSGA Money Market Fund SSGA U.S. Government Money Market Fund SSGA Funds Money Market Funds Annual Report August 31, 2015 Table of Contents Page

More information

GLOBAL SYNDICATED LOANS LEAGUE TABLES

GLOBAL SYNDICATED LOANS LEAGUE TABLES GLOBAL SYNDICATED LOANS LEAGUE TABLES MANAGER INGS GLOBAL SYNDICATED LOANS CONTENTS 1. Global market review 2. U.S. market review 3. Canada market review 4. Latin America market review 5. EMEA market review

More information

Sector Focus June 2013

Sector Focus June 2013 Sector Focus June 2013 The underbanked: an appealing banking opportunity in emerging nations T A close look by Turner's analysts at the market sectors they cover urkey, Mexico, and the Philippines may

More information

Michael Frieser Chairman of EMEA Financial Institutions Investment Banking Team. 24 May 2016

Michael Frieser Chairman of EMEA Financial Institutions Investment Banking Team. 24 May 2016 Michael Frieser Chairman of EMEA Financial Institutions Investment Banking Team 24 May 2016 A Tough 1 st Quarter by our financial staff The Wall Street Journal FINANCIAL TIMES Financial Times In Europe,

More information

The case of the Spanish Banco Santander Adrienn Fekó Research Fellow, ICEG European Center

The case of the Spanish Banco Santander Adrienn Fekó Research Fellow, ICEG European Center Budapest, 30 May 2011 Workshop: Policies in Support of Service Innovation The case of the Spanish Banco Santander Adrienn Fekó Research Fellow, ICEG European Center Company profile Established in 1857

More information

PRESS RELEASE. RESULTS 2014 Santander grows business in all markets and makes a profit of EUR 5.816 billion in 2014

PRESS RELEASE. RESULTS 2014 Santander grows business in all markets and makes a profit of EUR 5.816 billion in 2014 RESULTS 2014 Santander grows business in all markets and makes a profit of EUR 5.816 billion in 2014 In 2014, Santander continued to support its clients, growing loans by 5%. We did it with a sustained

More information

Javier Marín Private Banking, Asset Management and Insurance

Javier Marín Private Banking, Asset Management and Insurance Javier Marín Private Banking, Asset Management and Insurance Disclaimer Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements

More information

Premier UK Money Market Fund

Premier UK Money Market Fund Premier UK Money Market Fund Fund Update - First Quarter 2013 MONEY MARKET The Premier UK Money Market Fund Need to know The Fund s Four Essential Characteristics: Aims to maximise returns from money market

More information

Consumer Credit Worldwide at year end 2012

Consumer Credit Worldwide at year end 2012 Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international

More information

GLOBAL FIXED INCOME LEAGUE TABLES

GLOBAL FIXED INCOME LEAGUE TABLES GLOBAL FIXED INCOME LEAGUE TABLES 1 st 3Q 215 1 st 3Q 215 MANAGER RANKINGS GLOBAL FIXED INCOME CONTENTS 1. Global market review 2. US market review 3. Canada market review 4. Latin America market review

More information

BBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th

BBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th BBVA Compass Giampaolo Consigliere, Head International Commercial Banking Washington, DC - March, 19 th 1 Banco Bilbao Vizcaya Starting from Strong Foundation Argentaria Banco Hipotecario, 1872 Banco de

More information

Enhanced Disclosure Task Force 2014 Progress Report Appendix 4: Leading Practice Examples of EDTF Recommendations. September 2014

Enhanced Disclosure Task Force 2014 Progress Report Appendix 4: Leading Practice Examples of EDTF Recommendations. September 2014 Enhanced Disclosure Task Force 2014 Progress Report Appendix 4: Leading Practice Examples of EDTF Recommendations September 2014 1 Table of Contents Page 1 General recommendations 4 2 Risk governance and

More information

BEST GLOBAL CASH MANAGEMENT BANKS IN ASIA-PACIFIC AS VOTED BY FINANCIAL INSTITUTIONS, 2015

BEST GLOBAL CASH MANAGEMENT BANKS IN ASIA-PACIFIC AS VOTED BY FINANCIAL INSTITUTIONS, 2015 BEST GLOBAL CASH MANAGEMENT BANKS IN ASIA-PACIFIC AS VOTED BY FINANCIAL INSTITUTIONS, 2015 1 2 DBS 8.734 2 6 CIMB 8.543 3 4 SMBC 8.494 4 7 J.P. Morgan 8.393 5 3 Deutsche Bank 8.296 6 Maybank 8.189 7 1

More information

Santander Q1 profit reaches EUR billion, 5% less year on year and up 8% excluding FX impact

Santander Q1 profit reaches EUR billion, 5% less year on year and up 8% excluding FX impact RESULTS JANUARY MARCH 2016 Santander Q1 profit reaches EUR 1.633 billion, 5% less year on year and up 8% excluding FX impact Our Q1 results are ahead of plan and we continue to deliver on all our commitments.

More information

Blockchain how it works and why it is important. Robert Schwentker Blockchain University, President

Blockchain how it works and why it is important. Robert Schwentker Blockchain University, President Blockchain how it works and why it is important Robert Schwentker Blockchain University, President AGENDA 1. What is a blockchain? 2. Blockchain related VC investments 3. Blockchain use cases How seriously

More information

Investment Type Security Name Legal Maturity Date Coupon/Discount Rate Par Value Original Cost

Investment Type Security Name Legal Maturity Date Coupon/Discount Rate Par Value Original Cost Asset Backed ALLY AUTO RECEIVABLES TRUST 1/16/2018 0.85 9,413,849 9,408,657 Asset Backed AMERICAN EXPRESS CREDIT ACCOUN 5/15/2019 0.98 25,720,000 25,762,046 Asset Backed AMERICAN EXPRESS CREDIT ACCOUN

More information

Global Markets presentation at Columbia September 18, 2007

Global Markets presentation at Columbia September 18, 2007 Global Markets presentation at Columbia September 18, 2007 Welcome to HSBC Global Markets Today s Speakers: Albert Yu MD, Head of Global Structured Equity Products, Americas & Head of Structured Derivative

More information

Life Bancassurance in Latin America: Protection-Related Life Insurance

Life Bancassurance in Latin America: Protection-Related Life Insurance Life Bancassurance in Latin America: Protection-Related Life Insurance Report Prospectus April 2013 Finaccord, 2013 Web: www.finaccord.com. E-mail: info@finaccord.com 1 Prospectus contents Page What is

More information

FIXED INCOME INVESTOR PRESENTATION 1Q'16

FIXED INCOME INVESTOR PRESENTATION 1Q'16 FIXED INCOME INVESTOR PRESENTATION 1Q'16 Important information Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements

More information

Best Execution Policy

Best Execution Policy Best Execution Policy for Formuepleje A/S 1 of 5 1. Introduction & purpose This Best Execution Policy for Formuepleje A/S (the Company ) describes the procedures followed by the Company when executing

More information

Making the investment case

Making the investment case Making the investment case UBS conference Louis von Zeuner, Deputy Group Chief Executive Officer 27 October Deteriorating global backdrop... Elevated VIX Index signals greater fear EU bank CDS spreads

More information

COUNTRY REPORT ON INFRASTRUCTURE AND FINANCE TURKEY TABLE OF CONTENT

COUNTRY REPORT ON INFRASTRUCTURE AND FINANCE TURKEY TABLE OF CONTENT COUNTRY REPORT ON INFRASTRUCTURE AND FINANCE TABLE OF CONTENT I. COUNTRY INFRASTRUCTURE AND POLICY DIRECTIONS... 2 1.1 IMPLEMENTATION PROCESS...2 1.2 LEGAL AND REGULATORY FRAMEWORK FOR INFRASTRUCTURE...2

More information

Contents. 1 Peru: Atractive economy and financial system 2 Organization 3 BBVA Continental vs. Peers 4 Social responsibility and Awards 5 Ratings

Contents. 1 Peru: Atractive economy and financial system 2 Organization 3 BBVA Continental vs. Peers 4 Social responsibility and Awards 5 Ratings March 2013 Disclaimer This document has been elaborated as a part of the information policies and transparency of BBVA Continental and contains public information, own source and provided by third parties,

More information

REUTERS / Carlo Allegri GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS

REUTERS / Carlo Allegri GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS REUTERS / Carlo Allegri GLOBAL SYNDICATED LOANS REVIEW MANAGING UNDERWRITERS Full Year 1 Full Year 1 MANAGING UNDERWRITERS SYNDICATED LOANS REVIEW Global Syndicated Loans Global Deals Intelligence Leading

More information

Santander Consumer Finance. February 2015

Santander Consumer Finance. February 2015 Santander Consumer Finance February 2015 1 Banco Santander S.A. and Santander Consumer Finance advise that this presentation contains representations regarding forecasts and estimates. Said forecasts and

More information

DEBT CAPITAL MARKETS REVIEW MANAGING UNDERWRITERS. REUTERS / John Schults

DEBT CAPITAL MARKETS REVIEW MANAGING UNDERWRITERS. REUTERS / John Schults DEBT CAPITAL MARKETS REVIEW MANAGING UNDERWRITERS REUTERS / John Schults Full Year 04 Full Year 04 Debt Capital Markets Managing Underwriters Debt Capital Markets Review Table of Contents Global Debt International

More information

PRESS RELEASE. Loyal customers grew by 1.2 million, to 13.8 million, and digitally active customers by 2.5 million, to 16.6 million.

PRESS RELEASE. Loyal customers grew by 1.2 million, to 13.8 million, and digitally active customers by 2.5 million, to 16.6 million. 2015 RESULTS Banco Santander delivers on its targets and earns EUR 5.966 million (+3%), with strong underlying performance of 13% based on increasing customer satisfaction and loyalty PRESS RELEASE In

More information

SANTANDER'S ACQUISITION OF ABBEY: BANKING ACROSS BORDERS

SANTANDER'S ACQUISITION OF ABBEY: BANKING ACROSS BORDERS December 7, 2011 SANTANDER'S ACQUISITION OF ABBEY: BANKING ACROSS BORDERS Caterina Buja 828410 Luca Gerotto 827794 INTRODUCTION http://youtu.be/xsx7af35tdm Monday, July 26 2004 "We are convinced Santander

More information

Analyzing Risk in an Investment Portfolio

Analyzing Risk in an Investment Portfolio Introduction Analyzing Risk in an Investment Portfolio October 16, 2012 PUBLIC TRUST ADVISORS Neil Waud, CFA Director Portfolio Management neil.waud@publictrustadvisors.com (303) 244-0468 Matthew Tight

More information

Important information

Important information 29 April 2014 1 Important information Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places

More information

Peru: and financial system

Peru: and financial system December 2014 Disclaimer This document has been elaborated as a part of the information policies and transparency of BBVA Continental and contains public information, own source and provided by third parties,

More information

Holdings Report GS Euro Liquid Reserves Fund

Holdings Report GS Euro Liquid Reserves Fund As of 01-06-2017 Holdings Report GS Euro Liquid Reserves Fund Portfolio holdings may not be representative of current or future investments. Future portfolio holdings may not be profitable. Description

More information

Sunrise Brokers voted overall number one equity products broker of the year by Risk for the sixth consecutive year REPRINTED FROM

Sunrise Brokers voted overall number one equity products broker of the year by Risk for the sixth consecutive year REPRINTED FROM REPRINTED FROM RISK MANAGEMENT l DERIVATIVES l REGULATION Sunrise Brokers voted overall number one equity products broker of the year by Risk for the sixth consecutive year www.sunrisebrokers.com SEPTEMBER

More information

Min. Guido Mantega. November 2009

Min. Guido Mantega. November 2009 New Cycle of Brazilian Economic Growth Financial i Times Min. Guido Mantega November 2009 Reasons to begin a new growth cycle Brazil faced the crisis with a strong economy; Emerged from it stronger than

More information

Global Alliance for Banking on Values. Real Banking for the Real Economy: Comparing Sustainable Bank Performance with the Largest Banks in the World

Global Alliance for Banking on Values. Real Banking for the Real Economy: Comparing Sustainable Bank Performance with the Largest Banks in the World Global Alliance for Banking on Values Real Banking for the Real Economy: Comparing Sustainable Bank Performance with the Largest Banks in the World October 2013 Introduction Five years after the financial

More information

CLUB SURVEY 2015 BANKING ARGENTINA

CLUB SURVEY 2015 BANKING ARGENTINA CLUB SURVEY 2015 BANKING ARGENTINA BANKING CLUB SURVEY 2015 THE KEY TO DEVELOPING COMPETITIVE BANKING INDUSTRY-SPECIFIC COMPENSATION & BENEFITS PACKAGES With the objective of satisfying the needs of HR

More information

3 rd Brazil - China Capital Markets Forum

3 rd Brazil - China Capital Markets Forum 3 rd Brazil - China Capital Markets Forum Ilan Goldfajn Chief Economist, Itaú Unibanco Partner, Itaú BBA August 30 th, 2012 In Brief World: consolidating a scenario of low growth. Slow recovery in the

More information

MAPFRE in 2014. Antonio Huertas. Presentation of Annual Results February 11, 2015. MAPFRE Chairman & CEO

MAPFRE in 2014. Antonio Huertas. Presentation of Annual Results February 11, 2015. MAPFRE Chairman & CEO MAPFRE in 2014 Presentation of Annual Results February 11, 2015 Antonio Huertas MAPFRE Chairman & CEO 2014 Results MAPFRE's results are excellent: 845 million euros in profits 2013 2014 % Consolidated

More information

An Understanding of the Capital Markets

An Understanding of the Capital Markets An Understanding of the Capital Markets By: Mario Espinosa Managing Director and Co-Head of Latin America Credit Markets 1 Table of Contents 1. Capital Markets Overview 3 2. Alternatives for Corporate

More information

Taking ING Back to Basics

Taking ING Back to Basics Taking ING Back to Basics Strategic Update Jan Hommen CEO-Designate Chairman of the Supervisory Board Change programme Strengthen financials and navigate through the crisis Reduce costs Manage and reduce

More information

Profit earner or cost driver? A combined view of retail banking and payments. Bertrand Lavayssière Frankfurt, May 25th

Profit earner or cost driver? A combined view of retail banking and payments. Bertrand Lavayssière Frankfurt, May 25th Profit earner or cost driver? A combined view of retail banking and payments Bertrand Lavayssière Frankfurt, May 25th Payments are crucial for Retail Banking Retail banking revenues are rather stable and

More information

WING HANG BANK, LTD. ANALYST MEETING 8TH MARCH, 2012

WING HANG BANK, LTD. ANALYST MEETING 8TH MARCH, 2012 ANALYST MEETING 8TH MARCH, 2012 ANALYST MEETING Topic 1 WHB Operating Results Summary 2 WHB 2011 Review 3 (i) Loan by Industry Sectors 3 (ii) Loans for use in Macau 3 (iii) Loans for use in China 4 (i)

More information

Credit Crunch A Realignment of Risk Management in Banking after(?) the Crisis

Credit Crunch A Realignment of Risk Management in Banking after(?) the Crisis Credit Crunch A Realignment of Risk Management in Banking after(?) the Crisis 3 rd European Security Conference Initiative, July 2, 2008 Gottfried Tröstl Seite 1 Seite 2 How did it come? 2000: burst of

More information

GLOBAL DATA CENTER INVESTMENT 2013

GLOBAL DATA CENTER INVESTMENT 2013 2013 CENSUS REPORT: Global Data Center Investment 2013 GLOBAL DATA CENTER INVESTMENT 2013 2013 - Healthy Growth in Data Center Investment Globally Globally, the data center industry has continued to maintain

More information

A Unique Value Proposition. UBS Global Financial Services Conference Manuel Gonzalez Cid, BBVA's CFO May 10 th 2011

A Unique Value Proposition. UBS Global Financial Services Conference Manuel Gonzalez Cid, BBVA's CFO May 10 th 2011 A Unique Value Proposition UBS Global Financial Services Conference Manuel Gonzalez Cid, BBVA's CFO May 10 th 2011 1 Disclaimer This document is only provided for information purposes and does not constitute,

More information

Economic Outlook and Recent Developments in Latin America and Chile

Economic Outlook and Recent Developments in Latin America and Chile Economic Outlook and Recent Developments in Latin America and Chile Rodrigo Vergara Governor Central Bank of Chile, October 1 Introduction Latin America has made great advances in the s. The commodity

More information

Opportunities in an improving macro environment

Opportunities in an improving macro environment Opportunities in an improving macro environment Jaime Sáenz de Tejada, Head of Spain and Portugal SG Premium Review Conference December 4th, 2013 1 Disclaimer This document is only provided for information

More information

Bank of America Merrill Lynch Banking & Financial Services Conference

Bank of America Merrill Lynch Banking & Financial Services Conference Bank of America Merrill Lynch Banking & Financial Services Conference Manuel Medina Mora Chairman of the Global Consumer Banking Council November 17, 2010 Consumer Banking in Citicorp Agenda Our Business

More information

HSBC Holdings plc and HSBC Bank Canada Presentation to Fixed Income Investors. September 2013

HSBC Holdings plc and HSBC Bank Canada Presentation to Fixed Income Investors. September 2013 Holdings plc and Bank Canada Presentation to Fixed Income Investors September 2013 Forward-looking statements This presentation, including the accompanying slides and subsequent discussion, contains certain

More information

DIVERSITY IN THE GLOBAL BANKING SECTOR: How the World s Leading Banks are Shifting Diversity Reporting up the Agenda

DIVERSITY IN THE GLOBAL BANKING SECTOR: How the World s Leading Banks are Shifting Diversity Reporting up the Agenda WHITE PAPER JANUARY 2016 DIVERSITY IN THE GLOBAL BANKING SECTOR: How the World s Leading Banks are Shifting Diversity Reporting up the Agenda BY DHR INTERNATIONAL, EUROPEAN FINANCIAL SERVICES PRACTICE

More information

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING

PRESS RELEASE. Ana Botín: Santander is well positioned to face the challenges. We will lead change GENERAL SHAREHOLDERS MEETING PRESS RELEASE GENERAL SHAREHOLDERS MEETING Ana Botín: Santander is well positioned to face the challenges. We will lead change Banco Santander has room for growth within our customer base and in our ten

More information

International Monetary Policy Transmission Előd Takáts and Abraham Vela Bank for International Settlements. BIS Papers No 78. Carl Musozya.

International Monetary Policy Transmission Előd Takáts and Abraham Vela Bank for International Settlements. BIS Papers No 78. Carl Musozya. International Monetary Policy Transmission Előd Takáts and Abraham Vela Bank for International Settlements. BIS Papers No 78 Carl Musozya. Introduction. Effects of advanced economy monetary policy on the

More information

Banco Santander Chile: Solid results in 2Q14. Sound outlook for 2015

Banco Santander Chile: Solid results in 2Q14. Sound outlook for 2015 0 Banco Santander : Solid results in 2Q14. Sound outlook for 2015 August 2014 Important information 1 Banco Santander caution that this presentation contains forward looking statements within the meaning

More information

The Foreign Exchange and Interest Rate Derivatives Markets: Turnover in the United States, April 2013. Federal Reserve Bank of New York

The Foreign Exchange and Interest Rate Derivatives Markets: Turnover in the United States, April 2013. Federal Reserve Bank of New York The Foreign Exchange and Interest Rate Derivatives Markets: Turnover in the United States, April 2013 Federal Reserve Bank of New York The Foreign Exchange and Interest Rate Derivatives Markets: Turnover

More information

GLOBAL DATA CENTER SPACE 2013

GLOBAL DATA CENTER SPACE 2013 2013 CENSUS REPORT: Global Data Center Space 2013 GLOBAL DATA CENTER SPACE 2013 Top 3 data center markets account for almost half of all global data center space. In spite of a slowdown in the amount of

More information

Trade Finance Services:

Trade Finance Services: Trade Finance Services: Current Environment & Recommendations: Wave 3 A Survey Among Banks Assessing the Current Trade Finance Environment Sponsored by The International Monetary Fund BAFT-IFSA April 2010

More information