Shareholder Value Creation of Banks in Spain: 1991-2010 (in Spanish)

14 Pages Posted: 4 Feb 2011  

Pablo Fernandez

University of Navarra - IESE Business School

Javier Aguirreamalloa

IESE Business School

Luis Corres Avendaño

IESE

Date Written: February 3, 2011

Abstract

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%.

Notes: Downloadable document is Spanish.

Keywords: Value creation, shareholder value creation, Santander, BBVA, Popular, Bankinter, weighted shareholder return

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Aguirreamalloa, Javier and Avendaño, Luis Corres, Shareholder Value Creation of Banks in Spain: 1991-2010 (in Spanish) (February 3, 2011). Available at SSRN: https://ssrn.com/abstract=1754397 or http://dx.doi.org/10.2139/ssrn.1754397

Pablo Fernandez (Contact Author)

University of Navarra - IESE Business School ( email )

Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

HOME PAGE: http://web.iese.edu/PabloFernandez/

Javier Aguirreamalloa

IESE Business School ( email )

08034 Barcelona
Spain

Luis Corres Avendaño

IESE ( email )

Camino del Cerro del Águila, 3
28023 Madrid, Madrid
Spain
656940704 (Phone)

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