Banco Santander

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  Banco Santander, SA
logo
Country SpainSpain Spain
Seat Santander
legal form Corporation
ISIN ES0113900J37
BIC BSCHESMMXXX
founding May 15, 1857
Website www.santander.com
Business data 2018
Total assets 1,459 billion euros
Employee 202.713
management
Board Ana Botín ( Executive Chairman )
Supervisory board José Antonio Álvarez
(Vice Chairman and CEO )

The Banco Santander, SA (often also called Grupo Santander ) having headquarters in Santander (and administrative headquarters in Madrid) is a listed Spanish universal bank . The company, which was founded in 1857, has developed into the largest bank in Spain through numerous takeovers and mergers since the early 1990s.

The bank is one of the 30 major banks that were classified as a “systemically important financial institution” in 2011 by the Financial Stability Board (FSB). It is therefore subject to special monitoring and stricter requirements for the endowment with equity.

Background & story

After the merger of Banco Santander with Banco Central Hispano in 1999, the largest universal bank in Spain was created. After this merger with Banco Central Hispano , the company traded under the name of Banco Santander Central Hispano . In August 2007 the company name was changed back to Banco Santander .

Banco Santander, SA and online bank Openbank branch in Barcelona

The core areas are retail banking , asset management & private banking (including insurance), global corporate banking and online financial services .

The bank owes its success to the business strategy of offering customers significantly higher credit interest rates and significantly lower loan interest rates than those of the competition. Santander increased net profit in 2005 by 72.5 percent to 6.2 billion euros. In 2007, she took over the Royal Bank of Scotland and Fortis to ABN AMRO . The group has more than 106 million customers and around 14,000 branches in more than 40 countries. The bank employs around 183,000 people.

In the 2009 financial year, in view of the crisis, the bank surprised with a 0.7% increase in earnings to EUR 8.94 billion, the best result in the company's history. At the beginning of 2009 Santander took over the Austrian business of GE Money Bank and has been operating in Austria under the name Santander Consumer Bank since October 2009. In Germany, Banco Santander is represented by its wholly-owned subsidiary Santander Consumer Bank , which specializes in sales financing for motor vehicles and consumer goods. In July 2010 it was announced that Banco Santander was taking over 173 branches of SEB AG and thus placed fourth with seven million private customers, ahead of ING DiBa. As a result, SEB Bank AG withdrew completely from the private customer business and 2,400 employees were transferred to Banco Santander, with an employment guarantee until the end of 2011.

In September 2010, Banco Santander announced that it had reached an agreement to purchase Allied Irish Banks' stake in Poland's third largest financial institution, Bank Zachodni WBK (BZ WBK) for € 2,938 million, € 150 million more than a 50% stake BZ WBK. Santander announced at the same time that it would make an offer to buy the remaining 30 percent of the shares, which makes an additional amount of 1,240 million euros.

In January 2013 it became known that Santander had made 12.7 billion euros in value adjustments for possible loan defaults for the whole of 2012; that was almost 30 percent more than in 2011. In addition, Santander had to write off 6.1 billion euros on its real estate loan portfolio in order to meet government legal requirements. In addition to the recession (see also Euro crisis # Spain ), the banks in Spain are mainly suffering from the crisis on the property market in their own country.

On June 7, 2017, the European Banking Authority, the Single Resolution Board (SRB) announced that the bank had taken over Banco Popular Español for one euro in order to avert its bankruptcy. By means of the takeover, Santander says it will become the market leader in its home market of Spain. To finance and strengthen equity after the takeover, Banco Santander announced a capital increase of EUR 7 billion for July 2017.

share

The majority of the more than 3.3 million shareholders are small investors who hold around 70% of the shares. Major shareholders are only institutional investors such as State Street Bank and Trust Co. Boston (8.34%), Chase Nominees Ltd (7.97%), EC Nominees Ltd. (6.46%) and the Bank of New York Mellon Corporation (5.55%). At the beginning of the global financial crisis in 2007 , the share price temporarily rose to over EUR 12 and dropped to around EUR 4 at the beginning of 2009. A dividend of 0.60 euros per share was paid for each of the 2009–2013 financial years, which has meanwhile been equivalent to a return of more than 10%.

The total market capitalization of Banco Santander is 42.8 billion USD in March 2020; At the beginning of 2017 it came to USD 89.4 billion, making it the second most valuable bank in Europe.

Corporate management

Historic administrative headquarters of Banco Santander in Santander

After the death of her father Emilio Botín on September 9, 2014, a lawyer and economist who ran the bank from 1986 until his death, the bank named 53-year-old Ana Patricia Botín as his successor. Emilio Botín's great-grandfather founded the bank in 1857. This means that the fourth generation of the family has run the bank without interruption.

The chairman of the board from 2002 to 2013 was Alfredo Sáenz Abad , who was sentenced to six months in prison in December 2009 for a false testimony from 1994 as head of the Santander subsidiary Banesto . He did not have to serve his sentence as he did not have a criminal record and the sentence was less than two years. Sáenz appealed and was pardoned by Prime Minister Zapatero in 2011 . In February 2013, the Supreme Court partially overturned the sentence. Sáenz is therefore considered to have a criminal record. In April 2013, Sáenz resigned from his position and was succeeded by the previous managing director Javier Marin .

subsidiary company

Brand presence in Germany

Banco Santander had been in a dispute with the German Savings Banks and Giro Association (DSGV) about the use of the color red in its branding since autumn 2011 . The Santander banks submitted their application to delete the trademark registered with the Patent and Trademark Office for the characteristic red of the savings banks. In December 2019, the savings banks and Santander reached an agreement that was only valid for Germany. He still allows Santander to use his logo in the red HKS14 color without restrictions, but limits the use of the lighter HKS13 color to the savings banks.

literature

  • Mauro F. Guillén, Adrian E. Tschoegl: Building a global bank: the Transformation of Banco Santander . Princeton Univ. Press, Princeton, NJ, et al. a. 2008, ISBN 978-0-691-13125-2 (English).

Web links

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ Annual Report 2018 , accessed March 25, 2019
  3. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  4. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012.
  5. ↑ Annual Report 2013 (German version) ( Memento of the original dated August 12, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 40.6 MB) pp. 4, 28  @1@ 2Template: Webachiv / IABot /haben.santander.de
  6. ↑ ROUNDUP: Banco Santander again with billions in profit
  7. ↑ Santander compra el tercer banco de Polonia por 3,000 millones , El País, 10 September 2010.
  8. ↑ Santander cierra su cuarta adquisición en menos de tres meses , Expansión, 10 September 2010.
  9. ↑ manager-magazin.de: Santander's profit is halved
  10. ↑ a b El Santander compra el Banco Popular por un euro para evitar su caída. In: El País of June 7, 2017, accessed on June 7.
  11. ↑ Banco Santander press release of June 7, 2017 , accessed June 7.
  12. ↑ Shareholder according to Cortal Consors
  13. ↑ Annual Report 2013 (German version) ( Memento of the original dated August 12, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 40.6 MB) p. 22  @1@ 2Template: Webachiv / IABot /haben.santander.de
  14. ^ Banco Santander on the Forbes Top Multinational Performers List . In: Forbes . ( forbes.com [accessed November 20, 2017]).
  15. ↑ Ana Botín is the new Santander boss , n-tv.de , September 10, 2014
  16. ↑ Major Spanish bank: Ana Botín to be the new head of Banco Santander , Spiegel Online , September 10, 2014
  17. ↑ Arne Gottschalck: Santander boss Botín dead: Ana Botín replaces the deceased father at the top of the group , Manager Magazin , September 10, 2014
  18. ↑ Imprisonment for the head of the largest bank in the euro zone Handelsblatt , December 29, 2009
  19. ^ Penalty waived: Santander boss threatens sanctions Handelsblatt , February 12, 2013
  20. ^ Santander boss resigns , Handelsblatt , April 29, 2013
  21. ↑ Authorized banks and securities firms In: finma.ch , accessed on February 24, 2020 (PDF; 375 kB).
  22. ↑ Entry of Banco Santander International SA in Zefix , accessed on February 24, 2020.
  23. ↑ Entry by Optimal Investment Services SA in Zefix , accessed on February 24, 2020.
  24. ^ Entry of Santander Wealth Management International SA in Zefix , accessed on February 24, 2020.
  25. ↑ The Banco Santander Totta has two representative offices in Switzerland (Geneva and Zurich): Authorized representatives of foreign banks and securities firms : In finma.ch , accessed on 24 February 2020 (PDF; 313 KB).
  26. ↑ Frederik Obermaier: Bizarre dispute over protected brand color: The Sparkasse sees red . In: Süddeutsche Zeitung . October 4, 2011 ( sueddeutsche.de ).
  27. ↑ BGH judgment: Sparkassen win dispute over banking red , Frankfurter Allgemeine Zeitung , July 21, 2016
  28. ^ Comparison in the color dispute between the savings banks and Santander . In: Beck-Online . December 12, 2019 ( beck-online.de ).