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The union of Italy’s UniCredit and Germany’s Commerzbank could trigger similar takeover attempts throughout Western Europe, where the banking industry is highly fragmented and full of weak players
After dividend payouts were banned during the pandemic, Spanish bank Santander is making up for lost time. It pledged to pay out half of its 2023 profits, which totaled nearly $12 billion. This means roughly $6B in buybacks and dividends is heading back to shareholders - but the stock still sells much cheaper than U.S. rivals, at a forward price/earnings ratio of 5.7x for 2025.