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==History==
==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.
Banco Santander was founded in 1857 with the first board of directors consisting of 12 members, representing the shareholders and founders. The first chairman was Juan Pombo Conejo. 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.


On [[26 July]] [[2004]] Banco Santander Central Hispano announced the acquisition of [[Abbey (bank)|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]].<ref>[http://www.independent.co.uk/news/business/news/hbos-fury-as-eu-backs-santanders-abbey-bid-551521.html HBOS fury as EU backs Santander's Abbey bid]</ref>
On [[26 July]] [[2004]] Banco Santander Central Hispano announced the acquisition of [[Abbey (bank)|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]].<ref>[http://www.independent.co.uk/news/business/news/hbos-fury-as-eu-backs-santanders-abbey-bid-551521.html HBOS fury as EU backs Santander's Abbey bid]</ref>

Revision as of 08:08, 3 June 2009

Banco Santander, S.A.
Company typePublic (BMAD: SAN, LSE: BNC, NYSE: STD (ADR), Euronext: SANT, SANTA, BM&F Bovespa:SANB3)
IndustryFinancial services
Founded1857
HeadquartersSantander, Spain
Area served
Europe, Latin America, Singapore, Hong Kong, Africa, USA
Key people
Emilio Botín (Chairman of the board), Alfredo Sáenz Abad (CEO)
ProductsBanking, insurance, asset management
Revenue€31.04 billion (2008)[1]
Increase €17.73 billion (2008)[1]
Increase €8.876 billion (2008)[1]
Total assets€1,050 billion (2008)[1]
Total equity€63.77 billion (2008)[1]
Number of employees
170,960 (2008)[1]
Websitewww.santander.com
Headquarters in Santander
Santander

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.

History

Banco Santander was founded in 1857 with the first board of directors consisting of 12 members, representing the shareholders and founders. The first chairman was Juan Pombo Conejo. 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.

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]

Operations

File:Santander Global Presence.png
Santander global presence

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]

Global operations

European operations

  • Bosnia and Herzegovina
    • Nova Santander Banka d.o.o. Trebinje
  • Denmark
    • Santander Consumer Bank AS
  • Germany
    • Santander Consumer Bank AG - www.santander.de
    • Santander Consumer Debit GmbH
    • Santander Consumer Leasing GmbH
  • Jersey (UK)
    • Abbey International
  • Netherlands
    • Santander Consumer Finance B.V. (Abfin) - www.santander.nl
    • Santander Consumer Finance Benelux B.V.
  • Switzerland
    • Santander Private Banking

Latin American operations

  • Argentina
    • Banco Santander Río (after acquisition of the local Banco Río by Santander)
  • Brazil
    • 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
  • Colombia
    • Banco Santander Colombia
  • Mexico
    • Banco Santander (from merger of Banco Mexicano, Banco Serfín and Santander)
  • Puerto Rico
    • Banco Santander Puerto Rico
    • Santander Overseas Bank

Asian operations

  • China
    • Banco Santander, S.A. - Hong Kong Branch
    • Banco Santander, S.A. - Shanghai Branch

African operations

North American operations

  • USA

See also

References

  1. ^ a b c d e f "Annual Report 2008" (PDF). Banco Santander. Retrieved 2009-05-01.
  2. ^ HBOS fury as EU backs Santander's Abbey bid
  3. ^ Spanish bank buys Sovereign stake
  4. ^ Santander buys ABN Global clients in Brazil
  5. ^ GE, Santander finalize GE Money, Interbanca deal
  6. ^ Santander agrees £1.2bn A&L deal
  7. ^ Santander buys B&B branck network and deposit book
  8. ^ "Santander scraps UK bank brands". BBC News. 27 May 2009. Retrieved 2009-05-23.
  9. ^ Santander to acquire Sovereign
  10. ^ [1]
  11. ^ The end of the beginning?
  12. ^ Per the Financial Times Global 500 quarterly update for Q2 2008. "FT Global 500 June 2008" (PDF). Financial Times. 2008. Retrieved 2008-07-14. {{cite web}}: Unknown parameter |month= ignored (help)
  13. ^ Title In My Grasp Says Hamilton
  14. ^ http://www.bloomberg.com/apps/news?pid=20601087&sid=aQieJp1uakvc&refer=home

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