The Banco Santander held tomorrow an extraordinary shareholders’ meeting convened to approve in principle only a capital to buy 100% of its Brazilian subsidiary, but has now become more important for being the first to preside Ana Botín.
In this way, Santander shareholders will have the opportunity to hear their first president, who could exploit to launch into his speech a statement of intent about what their strategy at the head of the entity.
After the sudden death of his father, Emilio Botin, last Tuesday, Ana Patricia, or simply as Ana now prefers to be called, has been forced to take the witness of the first Spanish bank much earlier than she would have wanted and more precipitously, with little time to plan the next steps.
Preceded by a long and brilliant career, but has also had some stumble related punto.com in years 90, Ana Botín exciting faces a difficult task, but that is to keep the group in the top positions in the world ranking and do it their way.
Improving the performance of the bank in Spain, very burdened in recent times by the crisis, delinquencies and provisions, as well as continue to grow through purchases, mergers or agreements, are some of the challenges that the new president will face in the early days of his term.
also renewed, predictably, the focus on SMEs and was one of the first to do when he was head of Banesto and it was also very important to his father, who stressed on many occasions the role of these small businesses as reactivating the economy.
The conquest of new markets that will allow further leveraging the advantages of geographic diversification to the group accounts may also be among the first betting Ana Botín, forced to hit when deciding their next moves on the international stage.
The Board will begin at 9.30 am at the Palace of Exhibitions and Congresses of the Cantabrian capital, and the main point on the agenda will be said capital for the entity to execute the offer made to acquire the 25% missing to complete 100% of its subsidiary Santander Brasil.
The transaction, announced in April, will be made after the approval of aforementioned capital increase through the issuance and circulation of new ordinary shares of fifty cents each nominal value and share premium.
In addition, the bank’s shareholders must approve for certain employees and directors of Santander Brasil Group and other companies within the subgroup, variable compensation plans deferred and conditional, which were approved in 2011, 2012, 2013 and 2014.
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