Santander Surpasses Inditex to Become Spain’s Most Valuable Company
Market Shift and Banking Sector Rally
Santander Overtakes Inditex in Market Capitalisation
June 19 (Reuters) - Santander has overtaken fashion giant Inditex to become Spain's most valuable listed company for the first time in eight years, lifted by a recent rally in banking shares.
Significance for Santander and Investors
The shift marks a milestone for the Spanish lender, which is already the most valuable bank in continental Europe. It also highlights investors' shift from consumer stocks to banks.
Key Financial Figures
• Santander's market capitalisation reached €175.9 billion ($201.5 billion) on Friday, compared with €174.4 billion for Zara owner Inditex, according to LSEG data.
• Since the start of 2025, the bank's stock has risen about 172%, with Santander posting a record profit last year.
• The lender's shares have risen about 18% year-to-date, while Inditex is little changed from December 31, despite a rebound over the past month.
Factors Driving the Banking Sector
• European banks have rallied of late as the European Central Bank raised interest rates and the European Commission prepares to relax cross-border capital flow rules and simplify capital frameworks.
Challenges Facing Retailers
• Retailers such as Inditex have come under pressure this year from weaker consumer spending.
Currency Exchange Rate
($1 = 0.8728 euros)
(Reporting by Mireia Merino. Editing by Andrei Khalip and Mark Potter)
