The UK arm of Santander has been given £300 million from its Spanish parent company. On the 2nd of December Santander (BNC) issued the convertible debt to Banco Santander in order to bolster its financial firepower before the end of the year. The reason for this? Well the Bank of England are likely to use the end of year accounts as the key data for next year’s stress tests.
On Tuesday this week, Banco Santander (BNC) reported some great results but the share price fell. Odd that.
It is good to see the FTSE 100 rise today, but not all companies are joining in on the fun. Shares in British American Tobacco (BATS) have fallen, so have shares in GlaxoSmithKline (GSK) and Banco Santander (BNC) shares are basically flat at 549p.
Banco Santander (BNC) shares are currently trading at 631p with a yield of 5.94% and a PE of 19.54. Banco Santander is the largest bank in the eurozone by market value, and one of the biggest banks in the world.
