SAN - Banco Santander beats Q4 estimates strong performance driven by activity rebound

Banco Santander press release (NYSE:SAN): Q4 GAAP EPS of €0.12. Net income €2.28B, estimate €2.2B Net interest income of €8.72B beats by €220M. Total income €11.78B, estimate €11.58B CET1 ratio fully-loaded 12.1%, estimate 11.9% RoE 10.6% vs. 10.2% q/q RoTE +13.1% vs. +12.6% q/q In 2022, the bank is targeting mid-single digit growth in revenues, a cost-to-income ratio of around 45%, a RoTE above 13%, fully-loaded CET1 of around 12%, and a payout ratio of 40% of underlying profit.

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Banco Santander beats Q4 estimates, strong performance driven by activity rebound