Banco Santander 1Q13 Earnings Call

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“NPL ratio up 22 basis points in the quarter up to 4.76% and we have seen, in general, stabilization of NPL entries”

“Looking at the major units, we can see a clear stabilization of NPLs in most of them, which account for 70% of our portfolio increases; we’re concentrated in Spain and Portugal where trends have remained at the same level as in the previous quarters.”

“Lending shows the continued deleveraging of households and companies, the slow demand from individual borrowers, which reflected both in consumer lending and mortgages. We’ve continued to lend to businesses, however, with a relatively stable level and we are making every effort to increase lending to the business sector”