Banco Santander (Brasil) S.A. is the

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

ian subsidiary of the Spanish

Santander Group Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres ...

, headquartered in

São Paulo São Paulo (, ; Portuguese for 'Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the GaWC a ...

, Brazil. It is the fifth largest banking institution in Brazil, as well as the fifth largest in Latin America, and the largest division of the group outside

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

, accounting for around 30% of its financial results globally by 2019. The bank is listed at the B3 in São Paulo, and at

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

though ADRs. Founded in 1982, Banco Santander grew up in Brazil through several significant acquisitions from 1997 to 2007, which made it the fifth largest bank in the country, behind

Itaú Unibanco Banco Itaú Unibanco S.A. is a Brazilian financial services company headquartered in São Paulo, Brazil. Itaú Unibanco was formed through the merger of Banco Itaú and Unibanco in 2008. It is the largest banking institution in Brazil, as well a ...

Banco do Brasil Banco do Brasil S.A. ( en, Bank of Brazil) is a Brazilian financial services company headquartered in Brasília, Brazil. The oldest bank in Brazil, and among the oldest banks in continuous operation in the world, it was founded by John VI, King ...

Banco Bradesco Banco Bradesco S.A. is a Brazilian financial services company headquartered in Osasco, in the state of São Paulo, Brazil. It is the third largest banking institution in Brazil, as well as the third largest in Latin America, and the seventy-nint ...

and

Caixa Econômica Federal Caixa Econômica Federal (, ''Federal Savings Bank''), also referred to as Caixa, is a state-owned Brazilian financial services company headquartered in Brasília, Brazil. It is the fourth largest banking institution in Brazil, as well as the ...

. With more than 9 million customers, it operates in all segments of

financial market A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...

s, with a network of 3696 branches and service centers and 18,312 ATMs.

History

In 1997, Santander purchased Banco Geral do Comério S.A., initiating the wave of acquisitions through which it earned a position among the largest financial groups in Brazil. In 1998, it acquired Banco Noroeste S.A.. In January 2000, the Southern Financial conglomerate (Banco Meridional and Banco Bozano, Simonsen) joined the group. In November of the same year, Santander made its largest acquisition yet, taking control over Banespa, previously owned by Brazil's wealthiest state,

. After the Banespa acquisition, the financial conglomerate Santander Banespa was formed. While a strong franchise, Santander's position was still heavily concentrated in the Southeast region of Brazil. In 2007,

Banco Santander Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres ...

participated along with

Royal Bank of Scotland The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank ...

and Fortis in the acquisition of the Dutch financial conglomerate

ABN AMRO ABN or abn may refer to: Companies * ABN AMRO Group, a Dutch bank group * ABN AMRO, sometimes referred to as "ABN" in shorthand, is a Dutch state-owned bank * Algemene Bank Nederland, a now-defunct Dutch bank Radio, news and television organizat ...

. Santander took over ABN AMRO's Brazilian assets, mainly formed by the latter's acquisition of

Banco Real {{Infobox company , name = Banco Real , logo = Banco Real.svg , trade_name = Banco ABN Amro Real S.A. , type = S.A. , predecessor = Banco da Lavoura , founded = {{Start date, 1971, 03, 01, df=y in São Paulo, Brazil , founder = Aloysio de ...

, and developed a truly national platform, dropping the Banespa name and adopting the Santander Brasil franchise. On October 7, 2009 the bank went public in the

São Paulo Stock Exchange B3 S.A. - Brasil, Bolsa, Balcão (in English, ''B3 - Brazil Stock Exchange and Over-the-Counter Market''), formerly BM&FBOVESPA, is a stock exchange located in São Paulo, Brazil, and the second oldest of the country. Its current form can be tra ...

, also issuing ADRs in the

. In Brazil, the IPO raised R$14.1 billion, or US$8.9 billion, the largest stock offering made in the

BM&F Bovespa B3 S.A. - Brasil, Bolsa, Balcão (in English, ''B3 - Brazil Stock Exchange and Over-the-Counter Market''), formerly BM&FBOVESPA, is a stock exchange located in São Paulo, Brazil, and the second oldest of the country. Its current form can be tra ...

that year.

History

References

See also