Santander could buy up banks with €7.5bn fundraising

first_imgThursday 8 January 2015 8:58 pm whatsapp SHARES in troubled Italian bank Monte dei Paschi soared yesterday after Spanish giant Santander asked investors for €7.5bn (£5.9bn) in a share sale, prompting takeover speculation.Executive chairman Ana Botin took the reins in the autumn after her father and predecessor Emilio Botin died. “We are confident in the bank’s potential to grow organically,” she said.But the sheer scale of the fundraising round, combined with the bank’s stated intent to expand in many of its markets across the globe prompted speculation it could seek acquisition targets.Santander comfortably passed regulatory requirements in the European stress tests last year. Its capital position was found to be more robust than of German rival Deutsche Bank, under a fictional recession scenario.But Spanish bank BBVA came in above Santander, indicating there was room for improvement in its capital buffers.The bank said yesterday that it wanted to use some of the funds raised to meet incoming tougher targets this year, rather in 2019 as regulators demand.Monte dei Paschi’s shares jumped 12.39 per cent on the speculation.Santander’s shares were suspended on the issuance.Ana Botin ran Santander UK until she took over at boss of the global group.The UK arm is expected to be floated off as a separate entity in the coming two years, boosting the group’s capital position further. Santander could buy up banks with €7.5bn fundraising Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap whatsapp Sharecenter_img Tags: NULL Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoHero WarsAdvertisement This game will keep you up all night!Hero WarsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndoThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUndoLux & LushAfter 220 Years Two Brothers Finally Found The Oak Island TreasureLux & LushUndo Express KCS last_img