Spain’s largest bank: Banco Santander (SAN)

Banco Santander, SA (NYSE:SAN, BMAD:SAN, BMV:SANMEX, LSEBNC, Euronext:SANT, SANTA BIT:SANT) was founded in 1857, formerly known as Banco Santander Central Hispano SA, in June 2007 Changed to the current name, headquartered in Boadilla del Monte, Spain, with 194,948 full-time employees. It is the largest bank in Spain (second place: Bilbao Biscay Bank , BBVA) and the fourth largest bank in Europe (2019) .

Banco Santander Logo 1

Banco Santander (SAN):

The Santander Bank was founded in 1857. In December 2012, the Santander Group merged Banesto and Banco BANIF into Banco Santander and purchased the remaining 10% of Banesto’s shares to become Banco Santander, SA.

Santander Bank provides a variety of banking products and services to individuals and companies, including:

  1. Deposit products: including current and time deposits;
  2. Mortgage loans: including auto financing and personal credit;
  3. Consumer finance
  4. Mobile banking and electronic banking services;
  5. Corporate banking, wealth and investment banking activities;
  6. Design and manage mutual funds and retirement funds;
  7. investment company;
  8. Provide cash management, trade financing and basic financing, custody services;
  9. Participate in the sale and distribution of fixed income and stocks, interest rates, and inflation products;
  10. Provide trading and hedging exchange rates and short-term money market products for wholesale and retail customers;
  11. Stockbrokers, derivatives investment and hedging solutions;
  12. Provide asset management services;
  13. Portfolio management and insurance policies;
  14. Guarantees and other possible liabilities;
  15. consultation service;
  16. Collection and payment services.

As of December 31, 2016, Banco Santander, SA operated a total of 12,235 branches worldwide.

As of the end of 2019, Santander had 11,952 branches worldwide, making it the largest bank in Spain and the fourth largest bank in Europe.

Banco Santander (SAN) History:

From Wikipedia

On December 11, 2002, Bank of America purchased 25% of the shares of Grupo Financiero Santander Serfin, the third largest bank in Mexico, from Santander at a cost of 1.6 billion US dollars. US$2.5 billion bought back equity from Bank of America.

On July 26, 2004, the Bank of Santander purchased every share of Abbey National PLC, the sixth largest bank in the UK, for one share and another 25 pence. The transaction value is 8.9 billion pounds. Abbey National Bank has 11% of the UK mortgage market, 18 million customers and 741 branches.

On October 14, 2007, a consortium formed by Santander, Fortis Bank and Royal Bank of Scotland acquired ABN AMRO Bank for US$101 billion, and Santander Bank acquired ABN AMRO Bank Italy and Brazil business.

On July 16, 2008, Santander agreed to acquire Alliance & Leicester, the seventh largest bank in the United Kingdom, for a total of £1.26 billion.

On September 29, 2008, Abbey National PLC, a subsidiary of Bank of Santander, will acquire Bradford & Bingley PLC (BB.LN)’s retail deposit business and 197 branches, 2.7 million customers and a value of 20 billion pounds for 612 million pounds. Deposits.

In 2006, Santander bought a 24.9% stake in the US sovereign bank for $3.3 billion. On October 14, 2008, Santander acquired a 75.1% stake in Sovereign Bancorp, the largest savings bank in the United States, with shares worth US$1.9 billion. According to the agreement between the two parties, each Sovereign share will be exchanged for 0.2924 American Depository Receipts (ADR) for Santander. Equivalent to 3.81 US dollars per share. Sovereign Bancorp Inc’s business is mainly concentrated in the Mid-Atlantic Coast and Northeast of the United States, with 79 billion US dollars in assets and 750 branches.

On November 10, 2008, Santander issued an additional 1.6 billion shares at a price of 4.5 euros per share to raise 7.2 billion euros (9.2 billion US dollars).

On October 7, 2009, Santander Brazil SA , the Brazilian branch of Banco Santander, will issue 600 million units of new shares, accounting for approximately 17% of the total shares, at a price of 23.50 reais and 13.40 US dollars per share, which is equivalent to raising funds. The 14.1 billion Brazilian real IPO made its first public listing, which valued the Brazilian Santander Bank at 34.15 billion euros. It was publicly offered on October 6, and the new shares were listed in Brazil and New York at the same time. American Depositary Receipts are scheduled to start trading on the New York Stock Exchange on October 7 and officially listed on the Brazilian Stock Exchange the next day. Each equity unit issued in this issuance is equivalent to one American Depositary Share (ADS), representing 55 ordinary shares and 50 preferred shares.

On November 11, 2009, Santander acquired the auto financing loan management department of HSBC Capital for US$904 million and the loan balance of US$1 billion. Santander bought a small-scale US auto loan portfolio from troubled lenders at a discount and integrated it into Santander Consumer Finance USA.

On July 12, 2010, Santander Bank acquired 173 retail branches of Swedish Nordic Bank (SEB) in Germany for 555 million euros to expand its banking business in Germany.

On August 3, 2010, Santander’s British subsidiary (Santander UK) agreed to acquire the Royal Bank of Scotland’s Scottish branches in England, Wales and NatWest Bank for a consideration of 1.65 billion pounds, including 350 million pounds of goodwill. Part of the business. The acquisition includes 311 branches of Royal Bank of Scotland in England and Wales, 7 branches of NatWest, 40 small and medium-sized enterprise banking centers, more than 400 customer relationship managers, 4 corporate banking centers and 3 private banking centers. 1.8 million retail customers, approximately 244,000 SME customers, and 1,200 mid-term corporate customers have become the fourth largest bank in the UK branch network. The market share of SMEs will also rise from 3% to 8%.

On June 1, 2011, Banco Santander acquired a 70.36% stake in Zachodni Bank, Poland’s third largest bank, from Union Bank of Ireland for US$3.736 billion (approximately EUR 2.938 billion). According to the agreement, the National Bank of Spain will also acquire 50% of the shares of BZ WBK AIB Asset Management held by Union Bank of Ireland for 150 million euros.

On October 28, 2011, its US consumer finance arm of Santander Bank raised US$1 billion in an investment vehicle controlled by Warburg Pincus, KKR and Centerbridge Partners. These three institutions will hold San Dundon DFS and Santander hold 25% of the shares in the US consumer finance sector. Dundon DFS and Santander hold 10% and 65% respectively. Santander’s US consumer finance department has 2,800 employees, more than 2 million customers, and created a profit of $455 million last year.

On November 24, 2011, Banco Santander sold 7.8% of its Chilean Banco Santander for US$1.053 billion , reducing its shareholding to 67%. The Chilean branch of Banco Santander is the largest bank in Chile. As of September 30, 2011, the bank had a capital of 43.97 billion U.S. dollars, of which depositors’ savings amounted to 26.733 billion U.S. dollars. The bank currently has 11,700 employees in Chile, 494 branches, and has the largest banking network in Chile. On December 7th of the same year, it sold its Banco Santander Colombia SA equity to Chile Corpbanca Bank for a price of 1.2 billion US dollars.

On March 7, 2012, Santander Consumer Bank AG, a subsidiary of the Bank of Santander, acquired North Bank Consumer Finance Co., Ltd., a consumer finance subsidiary of the Bank of Beijing, for RMB 306 million (US$48 million) (Bank of Beijing Consumer Finance Co.) 20% equity.

On December 11, 2013, the Hongkong and Shanghai Banking Corporation, a subsidiary of HSBC Holdings, has signed an agreement to sell its 8% stake in Bank of Shanghai 336.872 million shares to Santander. The transaction amount was not disclosed. Santander said it expects The total transaction cost amounts to 470 million Euros, which is equivalent to approximately HK$5.05 billion.

On June 7, 2017, Banco Santander acquired the troubled Spain’s fifth largest bank, the People’s Bank of Spain, for a symbolic price of 1 euro. Santander will make a capital increase of approximately 7 billion euros to raise funds and reserves needed to strengthen the Bank of Spain’s balance sheet.

On January 23, 2019, Santander announced that it would close 140 branches of the bank in the United Kingdom due to the reduced demand for physical banking services due to the shift to digital platforms by British bank customers. This decision involves the position of 1,270 employees in the bank.

Banco Santander (SAN) investment:

Related companies :

  1. Santander Bank
  2. Santander Bank Chile Branch
  3. Banco Santander Brazil Branch
  4. Santander Bank Mexico Branch
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