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 centre ...
, 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 Ga ...
, 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 subcontinent of Eurasia and it is located entirel ...
, 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 of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...
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-ni ...
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 t ...
. 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 market ...
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,
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 Ga ...
.
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 centr ...
participated along with
Royal Bank of Scotland 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
NYSE
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...
. 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.
References
See also
*
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 centr ...
{{Authority control
Companies listed on the New York Stock Exchange
Banks of Brazil
Companies listed on B3 (stock exchange)
Banco Santander
Brazilian subsidiaries of foreign companies