Why Banco Santander's Shares Fell 12.5% in July

John Bromels, The Motley Fool
·2 min read
Why Banco Santander's Shares Fell 12.5% in July

Shares of Madrid-based Banco Santander (NYSE: SAN) dropped 12.5% in July, according to data from S&P Global Market Intelligence. The drop came on the heels of an absolutely devastating Q2 2020 earnings report by the bank, which has operations around the globe, but particular exposure to Spain and Latin America. Banco Santander hasn't posted a quarterly loss since 2005, and then it was a loss of $80.9 million.