Share prices of many banking and financial firms went up as the stress report on european banks suggested that most of the banks were healthy and with UBS and Deutsche Bank reporting heavy profits for the second quarter of the year. Santander Bank share prices also went up as news regarding the positive report on bank stress results came out.
Also there is being speculation that Santander bank might takeover National Australia Bank Clydesdale and Yorkshire banking arms. Surprisingly out of seven banks that failed the stress tests, five were located in Spain. However Santander Banking Group which also has its headquarters in Spain was not only just able to pass the stress tests but also has been one of the strongest emerging banking company at the moment.
The company is already considering a flotation of its UK banking operations that is expected to raise billions of pounds for the company. Santander (NYSE:STD) was recently reported to bid for RBS branches in order to diversify its business.
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Posted in: Business | Tags: bank, price, santander, share
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