Santander Spain Bank & UK Financial Services Company
Halal Incorp, Staff Writer
The History Of Santander Bank Over The Last Two Decades
Since the year 2000, Santander Group has expanded its reach through strategic acquisitions, including Banespa in Brazil, Serfín in Mexico, and Banco Santiago in Chile. These moves solidified the group’s position as a dominant financial force in Latin America.
In 2003, Santander Consumer emerged as a result of integrating CC-Bank in Germany, Finconsumo in Italy, Hispamer in Spain, and other group companies. This consumer banking franchise extended its presence to countries such as Austria, Belgium, Finland, France, Germany, Italy, the Netherlands, Portugal, Spain, Denmark, Norway, Poland, Sweden, Switzerland, the United Kingdom, the United States, and Canada.
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In April 2004, the central services shifted from Madrid to the new corporate headquarters at Santander Group City, boasting a workforce exceeding 6,800. Later that year, in November, Santander achieved a significant milestone with the acquisition of Abbey, the sixth-largest bank in the United Kingdom.
Santander Spain Bank
The momentum continued in 2005 with a 19.8% stake in Sovereign Bancorp, the eighteenth-largest bank in the United States. The following year, 2006, marked a record profit of €7.596 billion, making Santander the top-earning Spanish company. Investments in customer banking and service quality soared, evident in promotional actions like “We want to be your bank” in Spain and similar initiatives in Portugal, Abbey, and America.
In 2007, Santander celebrated its 150th anniversary as the twelfth-largest bank globally by market capitalization and the seventh by profit. The bank possessed the largest retail network in the Western world with 10,852 branches. A strategic consortium with The Royal Bank of Scotland and Fortis led to the acquisition of ABN Amro, expanding Santander’s presence in Brazil.
The growth story continued in 2008 with key acquisitions in the United Kingdom, adding Alliance & Leicester and Bradford & Bingley. By the end of the year, Santander became the third-largest bank in the United Kingdom by deposits, securing a remarkable €8.876 billion in profit.
Santander Spain Bank
Entering the United States retail and commercial banking sector occurred in 2010 with the acquisition of Sovereign, which was later rebranded as Santander in October 2013. In 2011, Santander expanded further by incorporating the SEB group’s retail and commercial banking business in Germany and acquiring Bank Zachodni WBK in Poland.
Strategic moves in 2012 included floating 25% of Santander Mexico, marking the largest transaction in Latin America that year. In 2013, shareholders approved Santander’s merger by absorption of Banesto and Banif, a process implemented gradually throughout the year.
Santander Spain Bank
The year 2014 brought a significant change in leadership, with Ms. Ana Botín unanimously appointed as the new Executive Chairman after the passing of Mr. Emilio Botín on September 9th.
In January 2015, Santander concluded a €7.5 billion capital increase targeting institutional investors, aiming to fortify capital and pursue organic growth opportunities. The same year saw enhancements in corporate governance, including the adoption of international best practices, the appointment of new independent directors, and the implementation of a remuneration policy aligned with the “Simple, Personal, and Fair” culture.
Throughout 2015, Santander progressed in its strategy to become the premier retail and commercial bank, fostering lasting loyalty from people, customers, shareholders, and communities. The commitment to a shared culture of simplicity, personalization, and fairness was evident among the senior management and the global workforce of 190,000 employees. Santander aimed to be a bank that consistently embodied these principles day in and day out.