Fitch Keeps Banco Santander's Rating on Diversified Banking Operations, Strong Business Profile

Fitch Ratings said Wednesday it maintained its A+ long-term issuer default rating on Banco Santander (SAN.MC, BNC.L), with a stable outlook. The rating affirmation highlights the Spanish lender's stable diversified banking operations, strong business profile and profitability, and effective risk management, which offset its "weaker" asset quality, compared with other high-rated peers. Fitch also expects larger capital distributions and growth, driven by the bank's stable earnings and recurring capital optimization measures.