Banco Santander's (SAN) US investment banking operations more than doubled profit in 2024 after large investments in the business, Bloomberg News reported Wednesday, citing a company representative.
Santander has focused on its US investment banking operations for several years and has hired some executives from the collapsed Credit Suisse, the report said.
"The business is well on track to meet its return on equity target for 2025," Bloomberg reported the official as saying.
Santander did not immediately reply to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.