SANTANDER (dpa-AFX) - Spanish banking major Banco Santander's (BNC.L, BSBR, SAN) executive chair Ana Botín will confirm Friday at the bank's Annual General Meeting that the company is on track to meet its 2024 targets.
In that case, cash dividends and share buybacks against 2024 results would amount to over 6 billion euros. In 2023, the bank returned 5.5 billion euros to shareholders through cash dividends and share buybacks.
At the Annual General Meeting, Botín will say, 'I am very confident that we will deliver a considerably better performance in 2024 than 2023, which was already a record year, and will meet our 2024 targets.'
Banco Santander expects Retail business to achieve a return on tangible equity or RoTE above 16% in the first-quarter, annualizing the impact of the banking tax in Spain which is registered entirely in January 2024, supported by solid performance in South America and Spain.
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