Banco Santander, S.A. (SAN) Q3 2024 Earnings Call Transcript Summary
Banco Santander, S.A. (SAN) Q3 2024 Earnings Call Transcript Summary
Efficiency ratio improved by 229 basis points; CET1 ratio at 12.5%.The following is a summary of the Banco Santander, S.A. (SAN) Q3 2024 Earnings Call Transcript:
以下是桑坦德银行（SAN）2024年第三季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Q3 profit was €3.3 billion, up 12%; 9-month profit reached €9.3 billion, up 14%.
Efficiency ratio improved by 229 basis points; CET1 ratio at 12.5%.
第三季度利润为33欧元，增长12％；9个月利润达到93欧元，增长14％。
效率比提高了229个基点；CET1比率为12.5％。
Business Progress:
业务进展：
Launched Openbank in the U.S., gathered €200 million in deposits; introduced Zinia card with Amazon in Germany.
Significant customer growth with a 50% reduction in digital onboarding time in Brazil.
在美国成立了Openbank，筹集了20,000万欧元的存款；在德国的亚马逊推出了Zinia卡。
巴西的客户显著增长，数字入职时间缩短了50％。
Opportunity:
机会：
Expanding global platforms such as Openbank in the U.S.; focus on enhancing digital onboarding and operational efficiencies.
Deployment of a global app successful across multiple countries.
扩展全球平台，例如美国的Openbank；专注于提高数字化入职和运营效率。
在多个国家成功部署全球应用程序。
Risk:
风险：
Net interest income sensitive to interest rate changes, especially in European and Brazilian markets.
Regulatory changes and economic fluctuations may affect income due to exchange rate and inflation variables.
净利息收入对利率变动很敏感，尤其是在欧洲和巴西市场。
由于汇率和通货膨胀变量，监管变化和经济波动可能会影响收入。
Financial Performance:
财务业绩：
Banco Santander reported a Q3 profit of €3.3 billion, up 12% from Q3 2023, with a 9-month profit reaching €9.3 billion, a 14% increase year-on-year.
Net interest income (NII) and fees reached record levels, accounting for over 95% of total income.
The efficiency ratio improved by 229 basis points.
Dividend per share increased by 14%, and the cash dividend per share for 2024 is projected to be 39% higher.
Cost of risk improved to 1.14% year-to-date, with expectations to remain in line with the target for 2024.
The CET1 ratio ended September at 12.5%, in line with targets.
桑坦德银行公布的第三季度利润为33英镑，较2023年第三季度增长12％，其中9个月的利润达到93欧元，同比增长14％。
净利息收入（NII）和费用达到创纪录的水平，占总收入的95％以上。
效率比提高了229个基点。
每股股息增长了14％，2024年的每股现金分红预计将增加39％。
今年迄今为止，风险成本提高至1.14％，预计将与2024年的目标保持一致。
截至9月，CET1比率为12.5％，符合目标。
Business Progress:
业务进展：
Santander continues to drive its ONE Transformation initiative, advancing towards a simpler, more integrated model with global platforms, which has significantly improved operational leverage and efficiency.
Customer growth is strong, with noteworthy digital onboarding enhancements such as a 50% reduction in onboarding time in Brazil.
Expansion of global platforms is evident with significant milestones like the nationwide launch of Openbank in the U.S., gathering €200 million in deposits and over 7,000 clients within four weeks.
Introduction of Zinia, a co-branded card with Amazon in Germany, illustrates the bank's focus on integrating global solutions into partner processes.
The bank's retail and consumer sectors showed strong revenue growth and much-improved efficiency ratios.
桑坦德银行继续推动其ONE Transformation计划，向更简单、更集成的全球平台模式迈进，这显著提高了运营杠杆率和效率。
客户增长强劲，值得注意的数字化入职改进，例如巴西的入职时间缩短了50％。
全球平台的扩张体现在重要的里程碑上，例如在美国全国范围内推出Openbank，在四周内收集了20000万欧元的存款和超过7,000名客户。
与德国亚马逊合作推出的联合品牌卡Zinia表明该银行专注于将全球解决方案整合到合作伙伴流程中。
该银行的零售和消费部门表现出强劲的收入增长和显著提高的效率比。
Opportunities:
机会：
The continued expansion and performance enhancement of global platforms such as Openbank in the U.S. and the deployment of a global app that operates successfully across multiple countries.
Increased investment and focus on digital onboarding and operational models which aim to enhance customer experience and reduce onboarding times, especially notable in Brazil.
美国的Openbank等全球平台的持续扩展和性能增强，以及在多个国家成功运行的全球应用程序的部署。
增加对数字化入职和运营模式的投资和关注，这些模式旨在增强客户体验和缩短入职时间，在巴西尤其如此。
Risks:
风险：
The sensitivity of net interest income (NII) to changes in interest rates, as mentioned in the context of European and Brazilian markets where different degrees of sensitivity exist.
Potential impact of regulatory changes and economic fluctuations, as indicated by ongoing concerns about net interest income adjustments due to changes in exchange rates and inflation in markets like Argentina.
净利息收入（NII）对利率变化的敏感性，正如在存在不同敏感度的欧洲和巴西市场的背景下所提到的那样。
监管变化和经济波动的潜在影响，对阿根廷等市场汇率和通货膨胀变化导致的净利息收入调整的持续担忧就表明了这一点。
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
小贴士：本文由 AI 生成。无法完全保证内容的准确性。如需更全面的详情，请访问投资者关系网站。本文仅供投资者参考，不提供任何指导或建议建议。
