Grupo Santander
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| Type | Public (BMAD: SAN, LSE: BNC, NYSE: STD (ADR), Euronext: SANT, SANTA, BM&F Bovespa:SANB3) |
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| Founded | 1857 |
| Headquarters | Santander, Spain |
| Area served | Europe, Latin America, Singapore, Hong Kong, Africa, USA |
| Key people | Emilio Botín (Chairman of the board), Alfredo Sáenz Abad (CEO) |
| Industry | Financial services |
| Products | Banking, insurance, asset management |
| Revenue | €31.04 billion (2008)[1] $96.23 billion |
| Operating income | ▲ €17.73 billion (2008)[1] |
| Profit | ▲ €8.876 billion (2008)[1] |
| Total assets | €1,050 billion (2008)[1] |
| Total equity | €63.77 billion (2008)[1] |
| Employees | 170,960 (2008)[1] |
| Website | www.santander.com |
Grupo Santander (BMAD: SAN, LSE: BNC, NYSE: STD (ADR), Euronext: SANT, SANTA, BM&F Bovespa:SANB3) is a banking group centered on Banco Santander, the largest bank in the euro area (in terms of market capitalisation), which originated in Santander, Cantabria, Spain.
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[edit] History
The 1999 merger of Banco Santander (founded in 1857) and Banco Central Hispano (founded in 1991) following the merger of Banco Central [est. 1919] and Banco Hispanoamericano [est. 1900]), created Banco Santander Central Hispano, or BSCH.[citation needed]
On 26 July 2004 Banco Santander Central Hispano announced the acquisition of Abbey National plc. Following shareholders' approval at the EGMs of Abbey (95 per cent 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 Grupo Santander on 12 November 2004.[2]
In June 2006, Banco Santander Central Hispano purchased almost 20% of Sovereign Bank and acquired the option to buy the bank for $40 per share for one year beginning in the middle of 2008.[3]
In May 2007 Banco Santander Central Hispano announced that in conjunction with Royal Bank of Scotland and Fortis it would make an offer for ABN AMRO. 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 and acquired ABN AMRO. As part of the deal, Grupo Santander acquired ABN AMRO's subsidiary in Brazil, Banco Real, and its subsidiary in Italy, Banca Antonveneta.[4]
On 13 August 2007, Banco Santander Central Hispano changed its legal name to Banco Santander.
In November 2007, it sold Banca Antonveneta to Monte dei Paschi di Siena. In March 2008, Banco Santander sold Interbanca, a subsidiary of Banca Antonveneta, to GE Commercial Finance, receiving in return GE Money businesses in Germany, Finland and Austria, and GE's Card and Auto Financing Businesses in the UK, which it will integrate into Santander Consumer Finance.[5]
The group announced in July 2008 that it intended to takeover the UK bank Alliance & Leicester, with £24bn in deposits and 254 branches.[6] The acquisition was completed in October 2008 when the group delisted the company's shares from the London Stock Exchange. This was followed by the acquisition of the savings business of UK bank Bradford & Bingley (B&B) in September 2008, with deposits of £22bn, 2.6m customers, 197 branches and 140 agencies.[7] The banks, along with Abbey, are to be merged together under the Santander name in the UK by the end of 2010.[8]
In October 2008, Grupo Santander announced that it would acquire the 75.65% of Sovereign Bancorp it does not currently own for approximately US$1.9 billion (€1.4 billion): the acquisition of Sovereign has given Santander its first retail bank in the mainland United States.[9]
According to the New York Times, at $3.1 Billion US in client exposure, it is also a significant victim of the Madoff investment fund collapse.[10]
[edit] Operations
In the wake of the current financial crisis it has become the largest bank in Europe,[11] replacing HSBC, which used to be the first in terms of market capitalization[12].
Grupo Santander has numerous operations in Latin America. It has rebranded most of the subsidiaries it has acquired to Santander.
Grupo Santander consists of 131,819 employees, 65.1 million customers, 11,178 branches and 2.27 million shareholders. Retail banking - the main aspect of Santander's operations - generates 82% of the group's profit.
Currently, Santander is a corporate sponsor of the McLaren-Mercedes Formula 1 team[13] and the Copa Libertadores de America.
On the 1st of December 2008, Santander announced that their Formula One sponsorship deal with McLaren will end in 2010, when Santander will become Ferrari's main sponsor.
On December 14, 2008, it was revealed that the collapse of Bernard Madoff's Ponzi scheme might mean the loss of 2.33 billion euros at Banco Santander.[14]
[edit] Global operations
- Santander Private Banking - pb.santander.com
- Santander Consumer Finance - www.santanderconsumer.com
[edit] European operations
- Austria
- Santander Consumer Bank Austria AG - www.santanderconsumer.at
- Belgium
- Santander Consumer Finance Benelux B.V. - www.santander.be
- Bosnia and Herzegovina
- Nova Santander Banka d.o.o. Trebinje
- Czech Republic
- Santander Consumer Finance a.s. - www.santander.cz
- Denmark
- Santander Consumer Bank AS
- Finland
- Santander Consumer Finance Oy - www.santander.fi
- France
- Santander Consumer France - www.santanderfinancements.fr
- Germany
- Santander Consumer Bank AG - www.santander.de
- Santander Consumer Debit GmbH
- Santander Consumer Leasing GmbH
- Hungary
- Santander Consumer Finance Cltd - www.santander.hu
- Italy
- Santander Consumer Bank S.p.a - www.santanderconsumer.it
- Santander Private Banking
- Jersey (UK)
- Abbey International
- Luxembourg
- Netherlands
- Santander Consumer Finance B.V. (Abfin) - www.santander.nl
- Santander Consumer Finance Benelux B.V.
- Norway
- Santander Consumer Bank AS - www.elcon.no
- Poland
- Santander Consumer Bank S.A. - www.santanderconsumer.pl
- Portugal
- Banco Santander Consumer Portugal, SA - www.santanderconsumer.pt
- Crédito Predial Português
- Hispamer
- Banco Santander Totta S.A
- Russia
- Santander Consumer Finance - www.santanderconsumer.ru
- Slovak Republic
- Santander Consumer Finance a.s. - www.santander.sk
- Spain
- Banco Santander
- Banesto
- Santander Consumer Finance
- Openbank
- Banco BANIF
- Sweden
- Santander Consumer Bank - www.santander.se
- Switzerland
- Santander Private Banking
- United Kingdom
- Abbey
- Alliance & Leicester
- Bradford & Bingley (Retail deposits and branch network. Wholesale and debt nationalised.)
- cahoot
- Cater Allen Private Bank
- Santander Cards UK
- Santander Consumer (UK) plc
- Santander Totta
[edit] Latin American operations
- Argentina
- Banco Santander Río (after acquisition of the local Banco Río by Santander)
- Brazil
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- Banco Santander - formerly Santander Banespa, resultant of the merger of the following Santander-owned banks:
- Banespa
- Banco Santander Meridional (formerly Banco Meridional)
- Banco Santander do Brasil (formerly Banco Noroeste)
- Banco Real
- Banco Santander - formerly Santander Banespa, resultant of the merger of the following Santander-owned banks:
- Chile
- Banco Santander (exBanco Santander Santiago)
- Banco Santander Banefe
- Colombia
- Banco Santander Colombia
- Mexico
- Banco Santander (from merger of Banco Mexicano, Banco Serfín and Santander)
- Peru
- Banco Santander Perú S.A. - www.santander.com.pe
- Puerto Rico
- Banco Santander Puerto Rico
- Santander Overseas Bank
- Uruguay
- Banco Santander Uruguay www.santander.com.uy
- Venezuela
- Banco de Venezuela www.bancodevenezuela.com
[edit] Asian operations
- China
- Banco Santander, S.A. - Hong Kong Branch
- Banco Santander, S.A. - Shanghai Branch
[edit] African operations
[edit] North American operations
- USA
- Santander Private Banking
- Sovereign Bank
- Santander Consumer USA Inc.
[edit] See also
[edit] References
- ^ a b c d e f "Annual Report 2008" (PDF). Banco Santander. http://www.santander.com/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1224970397206&cachecontrol=immediate&ssbinary=true&maxage=3600. Retrieved on 2009-05-01.
- ^ HBOS fury as EU backs Santander's Abbey bid
- ^ Spanish bank buys Sovereign stake
- ^ Santander buys ABN Global clients in Brazil
- ^ GE, Santander finalize GE Money, Interbanca deal
- ^ Santander agrees £1.2bn A&L deal
- ^ Santander buys B&B branck network and deposit book
- ^ "Santander scraps UK bank brands". BBC News. 27 May 2009. http://news.bbc.co.uk/1/hi/business/8069648.stm. Retrieved on 2009-05-23.
- ^ Santander to acquire Sovereign
- ^ [1]
- ^ The end of the beginning?
- ^ Per the Financial Times Global 500 quarterly update for Q2 2008. "FT Global 500 June 2008" (PDF). Financial Times. June 2008. http://media.ft.com/cms/1ec66660-48eb-11dd-9a5f-000077b07658.pdf. Retrieved on 2008-07-14.
- ^ Title In My Grasp Says Hamilton
- ^ http://www.bloomberg.com/apps/news?pid=20601087&sid=aQieJp1uakvc&refer=home
[edit] External links
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