14 Pages Posted: 4 Feb 2011
Date Written: 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%.
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: 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