Shareholder Value Creation of Banks in Spain: 1991-2010 (in Spanish)
University of Navarra - IESE Business School
IESE Business School
Luis Corres Avendaño
February 3, 2011
We compute the Shareholder Value Creation of Santander, BBVA, Popular and Bankinter between 1991 and 2010. The shareholder value creation during this period was: Santander -24 billion euros; BBVA -22; Popular 1.6 and Bankinter 0.6.
The average shareholder return was: Santander 12.7%; BBVA 11.5%; Popular 8.5% and Bankinter 8.9%. However, the weighted shareholder return (taking into consideration the number of shares outstanding at different dates) was quite different: Santander 7.6%; BBVA 6.7%; Popular 13.1% and Bankinter 13.5%.
Note: Downloadable document is Spanish.
Number of Pages in PDF File: 14
Keywords: Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return
JEL Classification: G12, G31, M21
Date posted: February 4, 2011