BRIEF-Santander Expects Closing Of Webster Deal In Q3, Chairman says

Reuters
Feb 26
BRIEF-Santander Expects Closing Of Webster Deal In Q3, Chairman says

Feb 25 (Reuters) - Chairman of Banco Santander SA SAN.MC, Ana Botin:

  • EXPECTS CLOSING OF WEBSTER DEAL IN Q3

  • WE WILL NOT DO ANY BOLT-ON ACQUISITIONS IN THE NEXT COUPLE OF YEARS AS "WE WILL BE VERY BUSY"

  • IF ANY M&A OPPORTUNITIES FROM 2028 ONWARDS ARISE MORE PROFITABLE THAN BUY BACKS WE WOULD LOOK AT THEM

  • BANK IS NOT THINKING ABOUT LAUNCHING ANY NEW PRODUCTS IN CIB

  • CHAIRMAN OF SPAIN'S SANTANDER: BANK WILL STICK TO MAINTAINING CAPITAL ALLOCATION TO CIB BUSINESS AT 20%

  • CFO JOSE GARCIA CANTERA: WILL ONLY CONSIDER ADDITIONAL BOLT-ON ACQUISITIONS IF THERE IS CLEAR STRATEGIC AND FINANCIAL RATIONALE

  • CFO: BANK EXPECTS THE SPANISH BANKING TAX TO STAY

Further company coverage: SAN.MC

(Reporting By Madrid Newsroom)

((emma.pinedo@thomsonreuters.com;))

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