Banco Santander, S.A. (ADR) (NYSE:SAN)’s Chairman Ana Botin has announced that the shareholders of the company are overestimating the capital needs of the company and the economic downturn in Brazil will not have a major effect on the company’s profit. She also pointed out that the bank has a “loosely knit business model” and stable income sources. This tends to make the bank less vulnerable to market conditions and easily adjustable in times of crisis.

Since Banco Santander is one of the six creditors of Sete Brasil, the company is entitled to receive a share of the $670 million fund backed by the Brazilian government. However, the fund only covers part of Sete’s debt, which was originally issued in 2008, with the fund being kept as a guarantee. Unfortunately, the complete details of the transaction are yet to be made public and it is uncertain if the complete details would ever come to light, given the secret nature of the transaction.

Botin has made several changes to Santander’s business, since she took over from her father. So far the plans to cut back dividends, overhaul management in international markets have been successful in getting the clients returning for more business. Botin has requested the company shareholders to remain patient, until the plans are completed. She believes that the results would soon be reflected in the stock’s value in the market. Although Santander’s capital ratio is the lowest among 17 of the largest European banks, Botin believes that the figure would exceed 11% by the end of 2018.

Currently, the stock has been facing a downturn, owing mainly to the economic conditions in Brazil. Santander currently gains 19% of its profits from Brazil, which are at risk of being compromised. Botin, however, remains convinced that Brazil’s story is that of an emerging economy. She expects the economic conditions to change soon and her bank to rise with the upward economic trend, when it arrives.

Banco Santander, S.A. (ADR) (NYSE:SAN) lost 5.28% of its share value during the February 18 session, to close at $3.95, after having a trade volume of 5.18 million.