March 24, 2017
Financial Quotes
" Money does not pay for anything, never has, never will. It is an economic axiom as old as the hills that goods and services can be paid for only with goods and services. "

Albert Jay Nock

Banks in

Grupo Santander is a Spanish banking group organized around the Banco Santander, which includes a network of financial institutions with worldwide presence. Santander wants to consolidate itself as a large international financial group, which provides an increasingly high return to its shareholders and meets all the financial needs of its customers. In order to achieve this, it combines a strong presence in local markets with corporate policies and global capacities. The group's corporate values are: Dynamism-The initiative and agility to discover and exploit business opportunities before our competitors and the flexibility to adapt to market changes; Strength-their strong balance sheet and prudent credit management are the best guarantees of our capacity to grow and generate shareholder value over the long term; Leadership-Leadership vocation in all the markets where we operate, with the best teams and always focused on the customer and on results; Innovation-Constant search for products and services that meet customers' new needs and enable they to obtain returns higher than those of their competitors; Commercial orientation-the customer is the focus of their strategy. They aspire to continuously increase the number of their customers, their satisfaction and linkage through a wide range of products and services and the best quality of service; Professional ethics-Over and beyond strict compliance with laws, codes of conduct and internal regulations, all Santander employees must act honestly and transparently and always put the Group's interests before their own. Banco Santander combines common corporate policies and divisions with local implementation in the countries in which it operates, thus taking advantage of synergies and competitive advantages on an international scale. In accordance with the criteria established by New International Accounting Standards, the Group structures its business areas into two levels: the main or geographical level, and the secondary level, by type of business.
General Informations
HQ Address: Paseo de Pereda 9-12, Santander, Spain
Opening Times: N/A
Phone: +34(0) 942206100
Fax: +34(0) 915813388
Web: Santander Group
E-mail: N/A
Branches: N/A Founded: 1857

Santander’s history began on 15 May 1857, when Queen Isabel II signed a royal decree authorising the incorporation of the founding of Santander. Right from the start it was a bank open to the outside world, being initially linked to trade between the port of Santander in the north of Spain and Latin America. Between 1900 and 1919 Banco Santander doubled the scale of its balance sheet, enlarged its capital to ten million pesetas, lifted income, nudged the figure of half a million pesetas annual profit in 1917, and its earning power topped the average for Spanish finance houses. Also during this time three major Spanish banks were founded which would over time merge into the Santander: Banco Hispanoamericano (1900), Español de Crédito (1902) and Central (1919). In February 1920, Emilio Botín y López was appointed as the Banco de Santander’s first full-time chairman.The period between 1919 and 1939 was crucial for Santander. In 1923 it moved its head office to the Paseo de Pereda building, founded Banco de Torrelavega and got a modest network of branches underway in the province (the first one in El Astillero in 1923) and outside it (Espinosa de los Monteros, Lanestosa and Osorno, in 1924). In 1942, it bought a small bank, the Banco de Ávila, which allowed it to gain a foothold in Madrid, which was then the financial capital of the country.In 1947, it opened its first regional office in the Americas, in Havana (Cuba), which was followed by others in Argentina, Mexico and Venezuela, and also an office in London. In 1956 the bank’s Latin American Department was set up In 1960, Emilio Botín Sanz de Sautuola y García de los Ríos joined the bank’s board. This period saw the purchase of the Banco del Hogar Argentino, Santander’s first subsidiary in Latin America. In 1965, Banco Intercontinental Español (Bankinter) was founded. In 1985, Banco Santander de Negocios was set up in Spain to build on the investment banking and wholesale markets activities. In 1986, current chairman Emilio Botín Sanz de Sautuola y García de los Ríos, then Vice-chairman and CEO, was chosen to cover the vacancy opened up by his father’s retirement after 36 years at the helm of the bank. His first two years as chairman were spent laying the foundations for the challenge of the bank’s modernisation and expansion. In the late 80s, Santander bolstered its presence in Europe by acquiring CC-Bank in Germany, a bank with over three decades of experience in the vehicle finance market, from Bank of America. A stake was also acquired in Banco de Comercio e Industria in Portugal, and an alliance formed with The Royal Bank of Scotland in 1988. In 1994, the acquisition of Banco Español de Crédito (Banesto) became a major historic event in the history of Santander, making it the leading player in the Spanish market. In 1995, a second flurry of expansion in Latin America began, which allowed it to develop its business in Argentina, Brazil, Colombia, Mexico, Peru and Venezuela. At the same time, there was a renewed boost to the businesses already acquired in Chile, Puerto Rico and Uruguay. In January 1999, Banco Santander and BCH were the protagonists in the first major banking merger in Europe under the euro. This was the start of the largest finance house in Spain and the leader in Latin America. Subsequently the bank bought financial group Totta y Açores and Crédito Predial Portugués in Portugal. From the year 2000, the Group was joined by Banespa in Brazil, Grupo Serfín in Mexico and Banco Santiago in Chile. This consolidated the Group’s position as the leading financial franchise in Latin America. In 2003, the Group set up Santander Consumer when it merged German company CC-Bank, the Italian Finconsumo, Hispamer in Spain and other Group companies. This new consumer banking franchise today has a presence in 12 European countries (Spain, the UK, Portugal, Italy, Germany, the Netherlands, Poland, the Czech Republic, Austria, Hungary, Norway and Sweden), in the USA, through Drive Finance, and it has recently struck an agreement to start up its first operation in Latin America, in Chile. In April 2004, it moved its Central Services in Madrid to the new headquarters, Santander City, where 6,800 people work today. In 2005, Santander reached agreement to take a 19.8% stake in Sovereign Bancorp, the 18th biggest bank in the USA. In 2007, Santander celebrated its 150th anniversary as the twelfth largest bank in the world by stock market capitalisation, seventh by profits and the bank with the largest retail distribution network in the western world: 10,852 branches. Santander formed a consortium with the Royal Bank of Scotland and Fortis to launch a take-over bid for ABN Amro, through which the bank acquired Banco Real in Brazil, doubling its presence in the country. In 2008, Santander continued to grow, making important acquisitions in a strategic market for the bank, the UK. Through the incorporation of Alliance & Leicester and Bradford & Bingley, Santander expanded its high street network to 1,300 branches in the country and became the third largest bank in the UK by deposits. With profits of EUR 8,876 million, Santander became the third largest bank in the world by profits.
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