1023 GMT - Santander's changing business focus, new technology deployments and higher share buybacks can deliver 10% growth in annual earnings per share in the next couple of years, Morgan Stanley says. The Spanish bank said it would dispose of a stake in its Polish business, raising billions of euros, part of which it will return to shareholders via buybacks. "We believe any streamlining of the [geographical] footprint, and focusing the franchise with bolt-on acquisitions as intended by management, are positive strategically," analysts Alvaro Serrano and Pamela Zuluaga write. Bolt-on acquisitions refer to small deals as opposed to transformational ones. This refocusing also reduces complexity and can support the return on investment from owning the stock taking into account the risks, "given the perception that many European banks are 'empire builders'," they add.(elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 06:23 ET (10:23 GMT)
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