1517 GMT - The performance of BBVA and Santander's main profit drivers lead Jefferies to lift its profit estimates for both banks, the brokerage says in a research note. "The upgrades are driven by resilient profitability in Spain, a constructive view on Mexico despite the noise, higher contribution from Turkey at BBVA, and an improvement in profitability at Santander US on the back of lower funding costs, [operating expenses] and asset quality dynamics," analysts write. Both groups will be able to return one third of their current market capitalization to shareholders over the next two years, compared with the average 27% for European banks, they note. BBVA shares have risen 34% since the start of the year while Santander's are up 36%, and both and have more room to go, Jefferies says. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 10:17 ET (15:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。