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Banco Santander, S.A.,
doing business as A trade name, trading name, or business name is a pseudonym A pseudonym () (originally: ψευδώνυμος in Greek) or alias () is a fictitious name that a person or group assumes for a particular purpose, which differs from their original ...
Santander Group (, , Spanish: ), is a Spanish multinational
financial services Financial services are the economic services provided by the finance Finance is a term for the management, creation, and study of money In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contra ...
company based in
Madrid Madrid ( , ) is the capital and most populous city of Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = , national_anthem = , image_ ...

Madrid
and
Santander Santander may refer to: Places *Santander, Spain, the original place to receive this name, a port city and capital of the autonomous community of Cantabria, Spain *Santander Department, a department of Colombia *Santander State, former state of Co ...
in Spain. Additionally, Santander maintains a presence in all global financial centres as the 16th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across
North North is one of the four compass points The points of the compass are the vectors by which planet A planet is an astronomical body orbiting a star or Stellar evolution#Stellar remnants, stellar remnant that is massive enough to be Hydro ...

North
and
South America South America is a continent A continent is any of several large landmasses. Generally identified by convention (norm), convention rather than any strict criteria, up to seven geographical regions are commonly regarded as continent ...

South America
, and more recently in
continental Asia Asia () is Earth's largest and most populous continent, located primarily in the Eastern Hemisphere, Eastern and Northern Hemisphere, Northern Hemisphere of the Earth, Hemispheres. It shares the continental landmass of Eurasia with the conti ...

continental Asia
. It is considered a systemically important bank by
Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system The global financial system is the worldwide framework of legal agreements, institutions, and both formal and ...
. Many subsidiaries, such as
Abbey National The Abbey National Building Society was formed in 1944 by the merger of the Abbey Road and the National building societies. It was the first building society in the United Kingdom to Demutualisation, demutualise, doing so in July 1989. The ba ...
, have been rebranded under the Santander name. The company is a component of the
Euro Stoxx 50
Euro Stoxx 50
stock market index In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money availa ...
. In May 2016, Santander was ranked as 37th in the
Forbes Global 2000 The Forbes Global 2000 is an annual ranking of the top 2,000 public companies in the world by ''Forbes'' magazine. The ranking is based on a mix of four metrics: sales, Profit (accounting), profit, assets and Market capitalization, market value. Th ...
list of the world's biggest public companies. Santander is Spain's largest bank. As of 2017, Santander is the
4th largest bank in Europe
4th largest bank in Europe
with approximately
US$ The United States dollar (symbol A symbol is a mark, sign, or word In linguistics, a word of a spoken language can be defined as the smallest sequence of phonemes that can be uttered in isolation with semantic, objective or pragma ...
1.4 trillion in total assets-under-management (AUM). Traded on the
Euro Stoxx 50
Euro Stoxx 50
stock market index, the bank has a total market capitalization of $69.9 billion. As off 2019 it has €3.9 Trillion in assets under custody (AUC) and €2.1 Trillion in assets under administracion (AUA).


History

Banco Santander was founded in 1857 as Banco de Santander. In 1999 it merged with
Banco Central Hispano Banco Central Hispano was a Spanish bank. In 1999 it was merged with Banco Santander to form Banco Santander Central Hispano. However the bank group was reverted to refer as Santander Group or Banco Santander in 2007. See also * Former Banco Centr ...
, which had in turn been formed through the 1991 merger of Banco Central and Banco Hispanoamericano. The combined bank, known as Banco Santander Central Hispano, or BSCH, was designed to be a "merger of equals", in which the top executives of the two pre-existing firms would share control of the merged entity. Soon after the merger former BCH executives accused Banco Santander chairman Emilio Botín Sanz de Sautuola y García de los Ríos, succeeded him. In of trying to push his own agenda and threatened to take legal action. This post-merger disagreement was resolved when BCH executives Jose Amusátegui and Angel Corcóstegui agreed to accept severance payments, retire and pass control to Botín, at an expense to shareholders of
The euro sign () is the currency sign A currency symbol or currency sign is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money. Usage When writing currency amounts, the location of the sym ...

€
164M. The large termination payouts generated negative press, and Botín was eventually brought to trial on criminal charges of "misappropriation of funds" and "irresponsible management". However, in April 2005 the court cleared him of all charges, the €164M retirement payments made to the two former executives having been found to be legal, "made as compensation for the services provided to the bank". Also that year, the anti-corruption division of the Spanish public prosecutor's office cleared Botín of all charges in a separate case, in which he was accused of
insider trading Insider trading is the trading of a public company's stock or other security (finance), securities (such as bond (finance), bonds or Option (finance), stock options) based on material, nonpublic information about the company. In various countries ...
. In 2007 the bank officially changed the official name back to Banco Santander S.A. In 1996 Banco Santander acquired Grupo Financiero InverMexico. In 2000, Banco Santander Central Hispano acquired Grupo Financiero Serfin of Mexico. On 26 July 2004 Banco Santander Central Hispano announced the acquisition of
Abbey National The Abbey National Building Society was formed in 1944 by the merger of the Abbey Road and the National building societies. It was the first building society in the United Kingdom to Demutualisation, demutualise, doing so in July 1989. The ba ...
plc. Following shareholders' approval at the EGM of Abbey (95 percent voted in favour, despite vocal opposition from most of those present) and Santander, the acquisition was formally approved by the courts and Abbey became part of the Santander Group on 12 November 2004. In June 2006, Banco Santander Central Hispano purchased almost 20% of
Sovereign Bank Santander Bank, N. A. (), formerly Sovereign Bank, is a wholly owned subsidiary of the Spanish Santander Group Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company bas ...
and acquired the option to buy the bank (at the time, the market value was roughly US$40 per share) for one year beginning in the middle of 2008. In May 2007 Banco Santander Central Hispano announced that in conjunction with
The Royal Bank of Scotland The Royal Bank of Scotland ( gd, Banca Rìoghail na h-Alba, commonly abbreviated as RBS) is a major retail Retail is the process of selling consumer goods or Service (economics), services to customers through multiple distribution channel, ...
and Fortis it would make an offer for
ABN AMRO ABN AMRO Bank N.V. is a Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () *Dutch language , spoken in Belgium (also referred as ''flemish'') Dutch may also refer to:" Cas ...
. BSCH's share of the offer added up to 28% and the offer would have to be made up of a capital increase through a new share issue. Then in October 2007 the consortium outbid
Barclays Barclays plc () is a British multinational Investment banking, investment bank and financial services company, headquartered in London, England. Apart from investment banking, Barclays is organised into four core businesses: Retail banking, pe ...

Barclays
and acquired
ABN AMRO ABN AMRO Bank N.V. is a Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () *Dutch language , spoken in Belgium (also referred as ''flemish'') Dutch may also refer to:" Cas ...
. As part of the deal, Grupo Santander acquired ABN AMRO's subsidiary in Brazil,
Banco Real {{Infobox company , name = Banco Real S.A. , logo = Banco Real.svg , type = Subsidiary A subsidiary, subsidiary company or daughter company is a company (law), company owned or controlled by another company, which is called the parent company or h ...

Banco Real
, and its subsidiary in Italy,
Banca Antonveneta Banca Antonveneta S.p.A. was an Italian bank based in Padua, Italy. The bank was absorbed into Banca Monte dei Paschi di Siena in 2013. In 2008, it was the 9th largest banking group in Italy in terms of customer loans and the 8th largest in terms ...
. On 13 August 2007, Banco Santander Central Hispano changed its legal name to Banco Santander. In November that year, it sold Banca Antonveneta to Banca Monte dei Paschi di Siena, excluding a subsidiary Interbanca. In March 2008, Banco Santander sold Interbanca to
GE Commercial Finance GE Commercial Finance was a unit of GE Capital, (one of five major operating divisions of General Electric). Headquartered in Norwalk, Connecticut, Norwalk, Connecticut, United States, it plays a role in over 35 countries and had assets of over Uni ...
, receiving in return
GE Money GE Capital is the financial services division of General Electric. Through its two divisions, GE Capital Aviation Services and GE Energy Financial Services. The company had provided additional services in the past; however, those units were sold ...
businesses in Germany, Finland and Austria, and GE's card and auto-financing businesses in the UK, which it integrated with Santander Consumer Finance. In July 2008 the group announced it intended to purchase the UK bank
Alliance & Leicester Alliance & Leicester plc was a British bank and former building society A building society is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organiza ...
, which held £24bn in deposits and had 254 branches. Santander also purchased the savings business of Bradford & Bingley in September 2008, which held deposits of £22bn, 2.6m customers, 197 branches and 140 agencies. The acquisition of Alliance & Leicester completed in October 2008 when the B&B's shares were delisted from the London Stock Exchange. By the end of 2010 the two banks merged with Abbey National under the Santander UK brand. In October 2008, the Group announced to acquire 75.65% of Sovereign Bancorp it did not own for approximately US$1.9 billion (€1.4 billion). Because of the 2008 financial crisis at the time, Sovereign's price-per-share had fallen greatly: Rather than the $40 per share it would have cost in 2006, Banco Santander ended up paying less than $3 per share. The acquisition of Sovereign gave Santander its first retail bank in the mainland United States. Santander renamed the bank to enhance its global brand recognition in October 2013. On 14 December 2008, it was revealed that the collapse of Bernard Madoff's Ponzi scheme might mean the loss of €2.33 billion at Banco Santander. On 10 November 2009, HSBC Finance Corporation announced its auto finance entities had reached an agreement with Santander Consumer USA Inc.(SC USA) to sell HSBC US auto loan servicing operations, US$1 billion in auto loan receivables for US$904 million in cash, and enter into a loan servicing agreement for the remainder of its liquidated US auto loan portfolio. The transaction closed in the first quarter of 2010. In September 2010, Santander purchased Bank Zachodni WBK from Allied Irish Banks. On 28 February 2012, Santander announced that it had reached an agreement with KBC Bank to buy KBC's subsidiary Kredyt Bank in Poland. Santander merged Bank Zachodni WBK and Kredyt to create Poland's third-biggest bank, valued at about €5bn (US$6.7bn), having a market share of 9.6% in deposits, 8.0% in loans, 12.9% in branches (899), and more than 3.5 million retail customers. As a result of the merger, Santander came to hold 76.5% of the combined bank, and KBC came to hold about 16.4%; other shareholders held about 7.1% of the shares in the combined bank. Santander stated that it intended to buy more of KBC's shares in the combined bank to bring KBC's holdings below 10%; KBC affirmed it intended to sell its remaining stake. KBC sold its shareholding and Santander owns 75% of the bank, the rest is free float. In December 2012, Banco Santander announced that it would absorb Banesto and Banco BANIF, purchasing the remaining 10% of Banesto it did not already own. In October 2013, Santander acquired 51% in Spain's largest consumer finance business, El Corte Inglés, for around €140 million. Santander acquired a €470m stake in HSBC's Bank of Shanghai in 2013 in order to rebalance its business to the Asian market. In June 2014 Santander bought GE Money Bank, GE Capital's consumer finance business in Sweden, Norway and Denmark, for 700 million euros ($950 million). In September 2014, it was announced that Santander was in talks to merge its asset management unit with that of Unicredit to create a European firm worth €350 billion in assets. In November 2014, Banco Santander acquired a 5.1 percent stake in Monitise plc, Monitise Plc for £33 million. On 7 June 2017, Banco Santander purchased Banco Popular Español for a symbolic price of €1. In 2018, the bank announced a three-year push into Latin America to increase its presence in the market, particularly Brazil and Mexico, targeting these countries' super-rich.


Financial data


Operations

The Santander Group operates across Europe, South America, North America and Asia, partly due to its acquisitions. it had more than 186,000 employees, 14,392 branches, 3.26 million shareholders and 102 million customers. Retail banking – the main aspect of Santander's operations – generates 74% of the group's profit. On 10 June 2010, Grupo Santander announced that it would invest approximately US$270 million (€200 million) in Campinas, Brazil in a technology centre for research and data processing and a data centre that was to support operations across North America, Central America and South America. The new centre was to be established within the 'Development Company for High Technology Cluster of Campinas' on 1 million square metres. Construction began in January 2011, and full operation was expected in 2013 offering over 8,000 direct and indirect jobs. In 2013, global growth equity firm General Atlantic, along with Warburg Pincus LLC, acquired a 50% stake in Santander Asset Management. In 2010, Banco Santander expanded into China, focusing on trade finance services and establishing a joint venture with China Construction Bank. The venture was set up in 2011 with initial funds of 3.5 billion yuan ($530 million).


Europe

*Austria ** Santander Consumer Bank GmbH *Belgium ** Santander Consumer Finance Benelux B.V. *Denmark ** Santander Consumer Bank AS *Finland ** Santander Consumer Finance Oy *France ** Banco Santander, S.A. – Representative Office in Paris *Germany ** Santander Consumer Bank AG ** Santander Bank (Zweigniederlassung der Santander Consumer Bank AG) ** Santander Consumer Debit GmbH ** Santander Consumer Leasing GmbH *Italy ** Santander Consumer Bank S.p.A. ** Santander Private Banking *Luxembourg ** Banco Santander Totta, Banco Santander Totta S.A *Netherlands ** Santander Consumer Finance Benelux B.V. *Norway ** Santander Consumer Bank AS *Poland ** Santander Bank Polska ** Santander Consumer Bank S.A. *Portugal ** Banco Santander Totta ** Banco Popular Portugal ** Banco Santander Consumer Portugal, SA ** WiZink Portugal ** Hispamer *Spain ** Banco Santander ** Banco Popular Español ** Banco Pastor ** Santander Consumer Finance ** Openbank ** WiZink *Sweden ** Santander Consumer Bank AS *Switzerland ** Santander Private Banking *United Kingdom ** Santander UK ** Cahoot ** Cater Allen **Santander International *** Isle of Man branch *** Jersey branch ** Santander Consumer (UK) plc ** Santander Totta


Americas

*Argentina **Banco Santander Río *Brazil ** Banco Santander Brasil *Chile ** Banco Santander-Chile ** Banco Santander Banefe *Colombia ** Banco Santander de Negocios Colombia S.A. *Mexico ** Santander México *Peru ** Banco Santander Perú S.A. *Puerto Rico ** Banco Santander Puerto Rico ** Santander Overseas Bank *United States ** Santander Private Banking ** Santander Bank ** Santander Consumer USA ** Santander Global Banking & Markets ** RoadLoans ** HelpingLoans ** Banco Popular Español, TotalBank (Miami Dade) *Uruguay ** Banco Santander Uruguay


Asia and Australia

*China ** Banco Santander, S.A. – Shanghai branch ** Banco Santander, S.A. – Beijing branch *Hong Kong ** Banco Santander, S.A. – Hong Kong branch *Singapore ** Banco Santander, S.A. – Singapore branch


Africa

* Attijariwafa Bank (4.55% share)


Sponsorships

Santander and La Liga had a title sponsorship deal from the 2016–17 La Liga, 2016–17 season, making the Spanish top flight football league that was commercially known as La Liga, LaLiga Santander. Santander sponsored the UEFA Champions League for two years, from the 2018–19 UEFA Champions League, 2018–19 season to 2020–21. Santander has also sponsored the main South American club competition Copa Libertadores since 2008 Copa Libertadores, 2008 for the South American markets. In Formula One, from 2007 to 2017, Santander has been a corporate sponsor of the Scuderia Ferrari, Ferrari and McLaren teams. In March 2020, Santander Group with La Liga announced the first ever 'LaligaSantander Fest' as a global charity concert festival to raise funds in response to the COVID-19 pandemic.https://variety.com/2020/tv/global/intl-tv-newswire-laliga-fest-details-dancing-ledge-promotes-red-arrow-deals-1203547060/


See also

* Inter-Alpha Group of Banks *List of banks in Europe, List of banking institutions of Europe


Citations


References

*Guillén, Mauro and Adrian Tschoegl (2008
''Building a Global Bank: The Transformation of Banco Santander''
(Princeton, NJ: Princeton University Press). {{DEFAULTSORT:Banco Santander Banco Santander, Banks of Spain Conglomerate companies of Spain Companies listed on the New York Stock Exchange Multinational companies headquartered in Spain Systemically important financial institutions Companies based in Cantabria Santander, Spain Banks established in 1857 1857 establishments in Spain Spanish brands IBEX 35 Companies in the Euro Stoxx 50 Companies listed on the Madrid Stock Exchange Banks under direct supervision of the European Central Bank