Banco Santander S has become the first bank to currently be in the European Union in almost a decade to be estimated at more than 100 billion euros ($ 108 billion) because investors are increasingly accumulating in the sector.
The Spanish lender shares increased 1.8% to 6.62 euros on Tuesday, pushing their market capitalization to 100.3 billion euros. The last time the bank currently closed the trading day in the European Union, it was 2015 – when Santanger had previously been on that mark.
European banks’ shares have increased in recent years after the European Central Bank has completed the period of negative interest rates in 2022, which has greatly promoted the profitability of the bank. Block lenders have ever increased investor payments.
Santander is currently the only EU Bank to exceed EUR 100 billion market capitalization, but various other lenders, including BNP Paribas with and Intes Sanpaolo Spa, are not lagging behind.
Behind the EU, the Swiss UBS group AG has more market value. The London Borrower of the HSBC Holdings PLC has been traded above that mark in recent years, including in the period that led to Brexit.
Although the ECB began to reverse a portion of the ratio last year, the newer spectrum of huge public consumption in Europe gave fresh incentive to bank stocks. The banks of the region recently had their best winning streak from the turn of the millennium.
“We retain our positive view of the European Bank sector After our initial assessment of fiscal announcements across Europe, led by Germany and the EU, “said JPMORGAN analysts, including Kian Abouhossein and Delphine Lee, on Tuesday.
Santander’s shares were previously lagging behind the sector, but its shares gathered close to 50%from the beginning of this year. This made the lender one of the best performers throughout the European Banking Year.
Like many of his competitors, the largest Spanish bank has recently discovered new plans for reinforcing the amount of money intended to return to investors. Chairman Ana Botin said at Bloomberg TVinterviewEarlier this month that the focus of the bank growth will be on America.
This story is originally shown on Fortune.com
