I have recently opened an account with Santander. Judging by their share price, the market thinks they are one of the safest banks around today. For example, over 12 months Santander is down 16% compared to 39% for Barclays, 56% for Lloyds, and a whopping 62% for UBS. Based on share price, which in theory tells you all you need to know, Santander is one of the best performers amongst big international banks.
Then again, in these crazy times, you can’t be confident about anything. One minute flying high, next minute in the ditch. Every day the news gets more shocking.
Santander may do okay, but the same can’t be said about quite a few other Spanish banks, especially savings banks. There may be trouble ahead….