Grisi (Santander): The priority is organic growth, but we will be flexible to achieve the highest profitability
The bank says it has entered a two-year pause on acquisitions because it needs time to digest the purchases of Webster and TSB, although at the same time it remains alert to opportunities.
Santander's CEO, Hector Grisi, emphasized on Monday that the bank's primary focus is on generating organic growth while remaining flexible to achieve maximum profitability. The bank has entered a two-year pause in acquisitions to digest the recent purchases of Webster in the U.S. and TSB in the UK, aiming to exploit the synergies anticipated by the market.
Grisi stated, "We are clear about what we need to do with our capital." The bank is committed to deploying its capital in a manner that best serves its shareholders, whether through organic and profitable growth in all operating countries or through share buybacks, should the opportunity arise. Grisi reiterated the bank's progress in integrating the Webster and TSB acquisitions, noting that the remaining countries are operating efficiently.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
