$SAN

Iberdrola, BBVA, and Santander completed a €150 million syndicated loan using blockchain technology. The transaction, managed via a platform developed by ioBuilders, marks the first live syndicated loan with its entire lifecycle on blockchain. The technology aims to improve efficiency, reduce errors, and streamline processes in the syndicated loan market. Both banks highlighted the innovation's potential to transform corporate financing.

Banco Santander repurchased 6.1 million shares (18.5% of 2021 outstanding shares) from Oct 8-14, spending €1.25 billion (68.4% of the program's budget). Shares were bought across multiple venues at prices ranging from €11.9873 to €12.2341. The buyback was approved by the board in August 2026 and complies with EU regulations.

Banco Santander (SAN) will redeem two series of export finance covered bonds on October 19, totaling €1.2bn and $3.8bn, according to a press release. The bonds, originally set to mature in 2027, are held by the issuer and will be redeemed at their nominal values.

Banco Santander S.A. will redeem $298.4M in perpetual securities on November 12, 2026, as authorized by the European Central Bank. The redemption includes all outstanding 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities listed on the NYSE, with a redemption price equal to the nominal amount plus accrued distributions.

TSB and Santander have announced no further branch closures before 2028, affecting 480 branches. TSB operates 175 branches, while Santander has 305. Other UK banks like Lloyds and NatWest plan closures in 2026-2027. Santander previously announced 58 branch closures for 2026-2027.

Jim Cramer expressed confidence in ING Groep (ING) and Banco Santander (SAN) during Mad Money. ING reported Q2 net income of €1.95B, up 16% YoY, and raised its return-on-tangible-equity targets. Santander reported H1 core profit of €7.3B, up 15%, and increased its interim dividend by 10%. Both banks showed strong financial performance.

Jim Cramer expressed confidence in ING Groep (ING) and Banco Santander (SAN), citing strong earnings and growth prospects. ING reported a 16% increase in net income, while Santander saw a 15% rise in core profit. Both banks raised their return targets. Cramer also highlighted Sprouts Farmers Market (SFM) as undervalued, noting its 11x forward earnings multiple. SFM reported a 5% sales increase but a 1% decline in comparable-store sales.

Banco Santander (SAN) repurchased 21.6 million shares from October 1-7, spending €1.18 billion, or 64.4% of its buyback program's €1.83 billion limit. Prices ranged from €11.75 to €12.47 per share. The bank has bought back 18.5% of its outstanding shares since 2021.

European shares declined 0.9% on Thursday, with banks falling 2% to a 3-month low. Deutsche Bank, Banco Santander, Societe Generale, and Unicredit dropped. Oil prices rose 3% due to supply concerns. Fed minutes showed division on rate hikes. Bavarian Nordic gained 2.9% after raising revenue and EBITDA forecasts.

Sanofi (SAN) forecasts Dupixent sales reaching €25B by 2030, having treated 1.5M patients. The company and Regeneron revised their deal to split future R&D and profits 50/50 for four IL-targeting drugs in trials by 2027.