Santander Is Not Planning Any More Bolt-On Acquisitons Over Next Three Years

Reuters
Feb 04
Feb 3 (Reuters) - Chairman of Banco Santander SA , Ana Botin::
*BANK IS NOT PLANNING ANY MORE BOLT-ON ACQUISITIONS OVER NEXT THREE YEARS
*WEBSTER FINANCIAL IS STRATEGIC ACQUISITION IN THE U.S. BUT A BOLT-ON ACQUISITION FOR THE BANK AT A GROUP LEVEL
*SANTANDER HAS BEEN LOOKING AT OPPORTUNITIES IN THE U.S., BUT WEBSTER HAS SANTANDER'S CULTURE IN COMMERCIAL BANKING
*BANK IS NOT CONSIDERING RAISING THE OFFER FOR WEBSTER FINANCIAL
*PROFITS WILL BE UP EX-M&A IN 2026
*LENDER WILL BRING WEBSTER FINANCIAL TO OPENBANK PLATFORM
*CHAIRMAN OF SPAIN'S SANTANDER SAYS BANK IS COMMITTED TO 50% PAYOUT POLICY
*FOLLOWING ACQUISITION OF WEBSTER IN THE U.S. AND TSB IN THE UK SANTANDER WILL BE AT SCALE IN ALL ITS CORE MARKETS
*SANTANDER EXPECTS TO CLOSE TSB'S ACQUISITION IN Q2
*EXPECTS TO ACHIEVE SIGNIFICANT REVENUE SYNERGIES FROM WEBSTER FINANCIAL THAT ARE NOT IN THE NUMBERS ANNOUNCED SO FAR
*SANTANDER WILL NOT STOP ROLLING OUT OPENBANK NATIONALLY IN THE U.S. BUT WILL SLOW DOWN THE ROLL OUT OF OTHER PRODUCTS BY ONE YEAR
*CEO HECTOR GRISI: SANTANDER MAINTAINS TARGETS OF DISTRIBUTING AT LEAST 10 BILLION EUROS TO SHAREHOLDERS AGAINST 2025 AND 2026 RESULTS
*Further company coverage: SAN.MC
* (Reporting By Madrid Newsroom)
* ((emma.pinedo@thomsonreuters.com;))

((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 03-FEB-202620:17:14 GMT

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