Banco Santander's CEO Discusses Q1 2012 Results - Earnings Call Transcript
The third point in my introductory slide was the strength of our balance sheet. Beginning with capital ratios, the quarter was a business as usual quarter. We closed it with the BIS II core capital ratio of 10.10%, was up eight basis points from the previous quarter, and that was attained by 18 basis points of organic capital generation, minus the negative impact of 10 basis points from exchange rate differences. As a result, we have stabilized our core ratio at over 10%, which we reached at the end of 2011. In EBA terms, we have gone up to 9.11%, which is well above the minimum requirement for June.
As for liquidity, the group has improved the excellent position with which it closed 2011. There were two drivers behind this. On one hand, deleveraging has continued in some markets, as mentioned, especially the Eurozone, mainly Spain, while our commercial gap shrunk by €11 billion in the quarter, which has put us within the target we announced in the last presentation, covering (audio gap) policy, supported by our wide and diversified access to wholesale markets.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV