Santander CFO Cantera on Covid-19 Impact, Earnings, Dividend

Jose Garcia Cantera, Santander's CFO, discusses the bank's financial performance amid the pandemic, highlighting impairments and provisions. Despite a $13 billion loss, underlying profitability remains strong. The ECB's dividend and bonus guidelines are addressed, with plans for future payments. The impact of COVID-19 on Spain's tourism is noted, and future business strategies are considered.

What was one of the main reasons for Santander's large quarterly loss?

• Reduction in loan interest rates

• Significant impairments

• Increased customer deposits

• Expansion into new markets

How did Santander plan to handle dividends in response to the ECB's recommendations?

• By paying dividends in cash only

• By halting all dividend payments

• By proposing a script dividend

• By increasing cash dividends

What was the ECB's request regarding bonuses?

• To defer bonuses to the next year

• To pay bonuses in cash

• To increase bonuses for senior management

• To halt bonuses for the current year

How did Spain's COVID-19 case numbers compare to other European countries?

• Higher than the Balearic Islands

• Lower than the UK and France

• Higher than all other countries

• Similar to Portugal

What was the impact of the UK's travel advisory on Spain?

• Reduced travel restrictions

• Increased tourism

• No impact on tourism

• Mandatory self-isolation for travelers

What is Santander's focus during the pandemic according to the last section?

• Expanding into new markets

• Supporting businesses and families

• Reducing loan portfolios

• Increasing interest rates

What is Santander's expected return on tangible equity in the medium term?

• 20-25%

• 5-7%

• 13-15%

• 10-12%