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Espírito Santo Investment
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Banco Santander Totta has an impressive record for profitability, efficiency and growth.
Group profits have grown by more than 20% thanks to a rigorous focus on improving customer satisfaction, especially in the retail business. The bank's initiatives have helped it improve its net margin by 7% and commission income by 21%, and costs have been kept low. The group has the lowest cost-to-income ratio of any leading Portugese bank, and it keeps getting better.
Santander Totta's return on equity over 2004 was an impressive 19.3% (up from 18.9% the year before) but it excelled again in the first quarter of this year to reach
Citigroup has the leading debt franchise in Portugal, having managed a greater volume of bond deals than even the government itself and twice the volume of its closest competitor, Calyon.
Espírito Santo Investment is the most active broker on Euronext Lisbon and has a strong market position with international institutional investors, as well as domestic institutions and private clients. It has been active in the domestic equity capital markets too, working on all the tender offers of the past year.