Magdalena Wygralak/iStock Editorial via Getty Images Banco Santander ( SAN ): Net profit rose 12% Y/Y to €3.56B. Attributable profit reached €5.5B, up 60%, including a €1.9B net capital gain following the completion of the sale of Santander Bank Polska in January. Spain’s largest lender reported a 4% surge to total revenue to €15.14B, supported by net interest income of €11.02B, up 4%, and net fee...
Magdalena Wygralak/iStock Editorial via Getty Images Banco Santander ( SAN ): Net profit rose 12% Y/Y to €3.56B. Attributable profit reached €5.5B, up 60%, including a €1.9B net capital gain following the completion of the sale of Santander Bank Polska in January. Spain’s largest lender reported a 4% surge to total revenue to €15.14B, supported by net interest income of €11.02B, up 4%, and net fee income of €3.36B, which increased 6% on the back of stronger customer activity and volume growth across all global businesses. The CET1 capital ratio improved to 14.4%, rising 1.5 percentage points over the past 12 months, supported by solid organic capital generation and the positive impact from the disposal of the Poland business. Loans and deposits grew 5% and 4%, respectively, in constant euros, reflecting solid commercial dynamics. 2026 targets include mid-single-digit revenue growth and lower costs in constant euros, higher profits and a CET1 ratio of 12.8-13%. More on Banco Santander Banco Santander: Why The 'New Era' Makes A 10x P/E Look Cheap Banco Santander, S.A. (SAN) Analyst/Investor Day Transcript Banco Santander: The Risk-Reward Proposition Has Not Improved Much Following Recent Events Santander stock down as bank suspends stock repurchases on pending Webster acquisition Banco Santander names new CEO as Mario Roberto prepares for exit
Australia is proposing to tax Meta, Google and TikTok a proportion of their revenue to pay for news reporters. The government intends to introduce the draft legislation to Parliament by July. (Image credit: Rick Rycroft)
Australia is proposing to tax Meta, Google and TikTok a proportion of their revenue to pay for news reporters. The government intends to introduce the draft legislation to Parliament by July. (Image credit: Rick Rycroft)
Norsk Hydro press release ( NHYDY ): Q1 Non-GAAP EPS of NOK 2.07 beats by NOK 0.53 . Revenue of NOK 50.39B (-11.7% Y/Y) beats by NOK 100M . Adjusted EBITDA NOK 8.7 billion. Operating capital build from higher prices and sales giving negative free cash flow of NOK 4 billion. The twelve month adjusted RoaCE ended at 10.1 percent. Adjusted net debt increased from NOK 18.2 billion to NOK 21.6 billion....
Norsk Hydro press release ( NHYDY ): Q1 Non-GAAP EPS of NOK 2.07 beats by NOK 0.53 . Revenue of NOK 50.39B (-11.7% Y/Y) beats by NOK 100M . Adjusted EBITDA NOK 8.7 billion. Operating capital build from higher prices and sales giving negative free cash flow of NOK 4 billion. The twelve month adjusted RoaCE ended at 10.1 percent. Adjusted net debt increased from NOK 18.2 billion to NOK 21.6 billion. More on Norsk Hydro Norsk Hydro: Starting To Look For An Exit In 2026E (Rating Downgrade) Norsk Hydro ASA ADR (NHYDY) Q4 2025 Earnings Call Transcript Norsk Hydro ASA ADR 2025 Q4 - Results - Earnings Call Presentation Norsk Hydro downgraded at Deutsche Bank after strong aluminum price rally Norsk Hydro to maintain scaled-down production at Qatar aluminum plant
neiu20001/iStock Editorial via Getty Images Shares of UMB Financial ( UMBF ) have been a solid performer over the past year, gaining about 30% as the company’s acquisition of Heartland is showing increased financial benefits. In Q1, we saw an acceleration of these trends. Importantly, UMBF’s conservative underwriting has also left it with strong credit quality and very well protected from pressure...
neiu20001/iStock Editorial via Getty Images Shares of UMB Financial ( UMBF ) have been a solid performer over the past year, gaining about 30% as the company’s acquisition of Heartland is showing increased financial benefits. In Q1, we saw an acceleration of these trends. Importantly, UMBF’s conservative underwriting has also left it with strong credit quality and very well protected from pressures in private credit. I last covered shares in December , upgrading UMB to a “ B uy,” and that call has played out with shares up 10% since then. With updated financials, now is a good time to revisit UMBF. Seeking Alpha In the company’s first quarter , UMB Financial earned $3.41 per share in adjusted EPS, up from $2.58 last year. This blew past consensus by $0.59 thanks to faster loan growth and strong cost discipline. UMB is now realizing the cost synergies from its Heartland deal as well as benefits from its low-cost deposit base. Beyond this, ongoing balance sheet growth and the rollover of low-yielding securities are further boosting earnings. These organic and inorganic actions have positioned UMB for significant ongoing earnings growth over the course of 2026, in my view. Looking first at its balance sheet, average deposits were flat sequentially at $57.6 billion. Within this, we saw a favorable mix shift with non-interest-bearing balances (“NIB”) rising by $400 million thanks to ongoing growth in its trust department. These balances are now $15.1 billion, and after sustained pressure, NIBs have returned to a growth trajectory, which is very beneficial to margins. Interest-bearing deposit costs were down an impressive 24bps to 2.79%, reflecting a strong pass-through of rate cuts. As higher-cost CDs mature, I expect to see some further improvement this year. UMB Financial During the quarter, average loans grew 11% annualized from Q4 to $39.4 billion, led by ongoing strength in C&I lending. Heartland’s branches were less productive than UMBF’s, and the company is now us...
Dalì is among the artist suspects in This Is Not a Murder Mystery. Plus: the story behind the 2018 Salisbury poisonings. Here’s what to watch this evening 8pm, U&Drama A period crime drama set in West Sussex, 1936: a stately home is playing host to the hottest artists of the day, including Salvador Dalí, Man Ray and René Magritte. After a party fuelled by cocaine, opium and professional jealousy, ...
Dalì is among the artist suspects in This Is Not a Murder Mystery. Plus: the story behind the 2018 Salisbury poisonings. Here’s what to watch this evening 8pm, U&Drama A period crime drama set in West Sussex, 1936: a stately home is playing host to the hottest artists of the day, including Salvador Dalí, Man Ray and René Magritte. After a party fuelled by cocaine, opium and professional jealousy, a body is found, staged like Magritte’s The Lovers – prompting the arrival of Stephen Tompkinson as acerbic DCI John Thistlethwaite. The clever visual references and arch dialogue make it hard not to love. Jack Seale Continue reading...
UBS press release ( UBS ): Q1 GAAP EPS of $0.94 beats by $0.11 . Revenue of $14.24B (+13.4% Y/Y) beats by $1.03B . Return on CET1 capital was 16.8%, and 17.0% on an underlying basis. Underlying PBT was USD 3,990m. Outlook: " We expect second quarter net interest income in both Global Wealth Management and Personal & Corporate Banking to be broadly flat sequentially. The current backdrop reinforces...
UBS press release ( UBS ): Q1 GAAP EPS of $0.94 beats by $0.11 . Revenue of $14.24B (+13.4% Y/Y) beats by $1.03B . Return on CET1 capital was 16.8%, and 17.0% on an underlying basis. Underlying PBT was USD 3,990m. Outlook: " We expect second quarter net interest income in both Global Wealth Management and Personal & Corporate Banking to be broadly flat sequentially. The current backdrop reinforces the benefits of our balance sheet for all seasons, and we are confident in delivering on our 2026 financial targets while continuing to invest in sustainable growth and long-term value creation." More on UBS Group AG UBS Group AG (UBSS:CA) Shareholder/Analyst Call Transcript UBS Group AG (UBSS:CA) Shareholder/Analyst Call - Slideshow UBS Group AG (UBSS:CA) Presents at European Financials Conference 2026 Transcript Switzerland proposes a UBS capital increase of $20B, easing from earlier stance UBS CEO Ermotti's exit could be delayed well into second half of 2027 - report
The UAE has made a shock exit from OPEC blindsiding its partners and diluting the cartel's ability to steer oil prices via supply cuts. Amir Handjani, Non-resident fellow at the Quincy Institute for Responsible Statecraft spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the move and whether it was a political or economical decision. (Source: Bloomberg)
The UAE has made a shock exit from OPEC blindsiding its partners and diluting the cartel's ability to steer oil prices via supply cuts. Amir Handjani, Non-resident fellow at the Quincy Institute for Responsible Statecraft spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the move and whether it was a political or economical decision. (Source: Bloomberg)