Ana Botin Reveals Santander Vision in Drive to Raise Capital
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Banco Santander SA Chairman Ana Botin drew backing from investors to raise 7.5 billion euros ($8.9 billion) in new funds as she shapes her vision for Spain’s biggest bank less than four months after taking over.
Santander sold stock and announced Thursday in Madrid that it’s cutting the dividend her father, Emilio, put in place in 2007, before the financial crisis took hold. The bank also posted its 2014 earnings, saying net profit last year rose more than 30 percent to 5.8 billion euros.