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Last Updated:
2024-09-22 08:20:01

Banco Santander

Spanish multinational financial services company
Spanish multinational financial services company

Banco Santander is a major global bank headquartered in Madrid, Spain. It operates in Europe, North and South America, and Asia. The bank is a key player in the financial industry and is considered systemically important.

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1857-05-15
Incorporation of Banco Santander

On May 15, 1857, Queen Isabella II of Spain authorized the establishment of Banco Santander to facilitate trade between the Port of Santander and Latin America.

1900
Founding of Banco Hispanoamericano

In 1900, Banco Hispanoamericano was founded, which later became one of the three large Spanish banks integrated into Banco de Santander.

1902
Founding of Banco Español de Crédito

In 1902, Banco Español de Crédito was established, eventually becoming one of the major Spanish banks that merged into Banco de Santander.

1919-12-06
Banco Central begins business

Banco Central was founded in Madrid on December 6, 1919.

1921
Banco Central acquires Banco de Albacete

In 1921, Banco Central acquired Banco de Albacete.

1923
Headquarters moved to Paseo de Pereda building in Santander

In 1923, the headquarters of the bank were relocated to the iconic Paseo de Pereda building in Santander.

1924
Expansion to Espinosa de los Monteros, Lanestosa, and Osorno

By 1924, the bank had expanded its branch network to include Espinosa de los Monteros, Lanestosa, and Osorno.

1931
Government measures to support Banco Central during banking crisis

In 1931, the Spanish government implemented measures to address the crisis in the banking sector, consolidating Banco Central's position.

1934
Emilio Botín Sanz de Sautuola y López appointed as managing director

In 1934, Emilio Botín Sanz de Sautuola y López assumed the role of managing director at the bank.

1942
Opening of Banco Central in Madrid

Banco Central expanded its operations by opening a branch in Madrid in 1942, further solidifying its presence in the financial market.

1946
Acquisition of Banco Mercantil

In 1946, Banco Santander acquired its long-standing rival, Banco Mercantil, consolidating its position in Santander.

1947
Opening of Representative Offices in the Americas

In 1947, representative offices were opened in Havana, Cuba, followed by locations in Argentina, Mexico, Venezuela, and an office in London.

1950
Emilio Botín Sanz de Sautuola y López becomes chairman

By 1950, Emilio Botín Sanz de Sautuola y López had become the chairman of the bank, leading a period of significant growth across Spain.

1956
Creation of Latin America Department

In 1956, the Latin America Department was established within the organization.

1957
Banco Santander's 100th Anniversary

By the time of its 100th anniversary in 1957, Banco Santander had grown to become Spain’s seventh-largest financial institution.

1960
Emilio Botín Sanz de Sautuola y García de los Ríos joins the board of directors

In 1960, Emilio Botín Sanz de Sautuola y García de los Ríos joined the board of directors of Banco Santander. This period also saw the acquisition of Banco del Hogar Argentino, the first Latin America subsidiary.

1963
First acquisition in Latin America

In 1963, Banco Santander became the first Spanish financial institution to acquire a Latin American bank by taking over Banco del Hogar Argentino and renaming it Banco Santander Argentina.

1976
Acquisition of First National Bank of Puerto Rico

In 1976, Banco Santander acquired the First National Bank of Puerto Rico, expanding its presence in the region. This move helped position Banco de Santander as a pioneer in retail and commercial banking in Latin America.

1978
Banco Santander enters the Chilean market

In 1978, Banco Santander entered the Chilean market by opening a subsidiary focused on foreign trade.

1979
Establishment of Banco Santander International in Miami

Banco Santander International was founded in Miami in 1979, focusing on providing private banking and investment services to high-net-worth individuals.

1982
Acquisition of Banco Español Chile

In 1982, Banco Santander acquired Banco Español Chile, which was in liquidation at the time.

1985
Establishment of Banco Santander de Negocios in Spain

In 1985, Banco Santander de Negocios was established in Spain to conduct investment banking and wholesale market activities.

1987-07-30
Banco Santander is listed on the New York Stock Exchange

Banco Santander was first listed on the NYSE on July 30, 1987.

1988
Acquisition of CC-Bank and partnership with Banco de Comércio e Indústria and The Royal Bank of Scotland

In 1988, Banco Santander strengthened its presence in Europe by acquiring CC-Bank and entering into a strategic partnership with Banco de Comércio e Indústria in Portugal and The Royal Bank of Scotland.

1989
Launch of 'Supercuenta Santander'

In 1989, Banco Santander launched the 'Supercuenta Santander', a groundbreaking financial product that revolutionized the Spanish banking sector and introduced competition to the country's financial system.

1993
Acquisition of Bad Debt by Central Bank and Name Change to Banco Santander Chile

In 1993, following the world economic crisis, the Central Bank of Chile acquired the bad debt of Banco Español Chile. Subsequently, Banco Español Chile repurchased all the loan portfolio from the Central Bank. As a result, Banco Español Chile officially changed its name to Banco Santander Chile.

1994
Launch of Superhipoteca by Santander

In 1994, Santander introduced Superhipoteca, a product that enabled the bank to rapidly increase its business volume in mortgages within just eight months. This innovative product played a key role in the bank's growth and success in the mortgage market.

1995
Expansion in Latin America

In 1995, the company initiated a period of intense expansion in Latin America, strengthening its presence in Argentina, Brazil, Colombia, Mexico, Peru, and Venezuela. This expansion also provided a boost to existing ventures in Chile, Puerto Rico, and Uruguay.

1996
Banco Santander acquires Grupo Financiero InverMexico

In 1996, Banco Santander acquired Grupo Financiero InverMexico.

1998
Santander issues Guaranteed Infrastructure Bonds and launches Bancassurance

In 1998, Santander issued the first Guaranteed Infrastructure Bonds in the country, enabling the financing of major road developments. Additionally, Santander launched Bancassurance to distribute insurance products to its clients.

1999-01
First Large Bank Merger in Europe

In January 1999, Banco Santander took part in the first large bank merger in Europe since the adoption of the euro, resulting in Spain’s largest financial institution and a leading player in Latin America.

2000
Banco Santander Central Hispano acquires Grupo Financiero Serfin of Mexico

In 2000, Banco Santander Central Hispano acquired Grupo Financiero Serfin of Mexico.

2002
Santander merges with Banco Santiago

In 2002, Santander merged with Banco Santiago, reaching a market share of 25% in the country.

2003
Establishment of Santander Consumer

In 2003, Santander established Santander Consumer through the integration of CC-Bank in Germany, Finconsumo in Italy, Hispamer in Spain, and other Group companies.

2004-07-26
Banco Santander Central Hispano acquires Abbey National plc

On 26 July 2004, Banco Santander Central Hispano announced the acquisition of Abbey National plc.

2005
Stake in Sovereign Bancorp

In 2005, Santander reached an agreement to take a 19.8% stake in Sovereign Bancorp, the United States’ eighteenth-largest bank.

2006-06
Banco Santander Central Hispano purchases almost 20% of Sovereign Bank

In June 2006, Banco Santander Central Hispano purchased almost 20% of Sovereign Bank.

2007-08-13
Banco Santander Central Hispano changes legal name to Banco Santander

On 13 August 2007, Banco Santander Central Hispano changed its legal name to Banco Santander.

2008-12-14
Banco Santander faces potential loss due to Bernard Madoff's Ponzi scheme

On 14 December 2008, it was revealed that the collapse of Bernard Madoff's Ponzi scheme might mean the loss of €2.33 billion at Banco Santander.

2009-01-30
Completion of Banco Santander's acquisition of Sovereign Bank

On January 30, 2009, Banco Santander finalized its acquisition of Sovereign Bank, marking a significant milestone in its expansion strategy.

2009-11-10
HSBC Finance Corporation agreement with Santander Consumer USA Inc.

HSBC Finance Corporation reached an agreement with Santander Consumer USA Inc. to sell its US auto loan servicing operations and receivables, entering into a loan servicing agreement for the remaining portfolio.

2010-06-10
Santander invests in technology centre in Brazil

Grupo Santander announced an investment of approximately US$270 million in Campinas, Brazil, to establish a technology and data processing center supporting operations across the Americas.

2011
Acquisition of SEB group's retail and commercial banking business in Germany and Bank Zachodni WBK in Poland

In 2011, Santander acquired the SEB group's retail and commercial banking business in Germany and Bank Zachodni WBK in Poland. This expansion strengthened Santander's presence in both countries.

2012-02-28
Santander's acquisition of Kredyt Bank in Poland

Santander announced the acquisition of KBC's subsidiary Kredyt Bank in Poland and merged it with Bank Zachodni WBK to create Poland's third-biggest bank.

2013-10
Acquisition of Sovereign and name change to Santander

In October 2013, Santander acquired Sovereign and changed its name to Santander. This marked the entry into the retail and commercial banking business in the United States.

2014-09-09
Appointment of Ana Botín as Executive Chairman

After the death of Mr. Emilio Botín in September 2014, Ms. Ana Botín was unanimously appointed as the new Executive Chairman by the Board of Directors.

2015-01
€7.5 Billion Capital Increase

In January 2015, Banco Santander concluded a €7.5 billion capital increase targeting institutional investors to strengthen capital, increase lending, and meet international regulatory requirements.

2016
Launch of Santander Workcafé

In 2016, Santander introduced the Santander Workcafé, a unique concept that includes a co-working space accessible to the public.

2017-06-07
Purchase of Banco Popular Español

On 7 June 2017, Banco Santander purchased Banco Popular Español for a symbolic price of €1.

2019-07-13
Integration of Banco Popular network completion

The integration of the entire Banco Popular network was completed, marking the definitive end of the Popular brand from a commercial point of view.

2020-03
LaligaSantander Fest charity concert

Santander Group and La Liga organized the first LaligaSantander Fest in March 2020, a global charity concert event aimed at raising funds during the COVID-19 pandemic.

2021
Banco Santander marked as one of the largest banks in Europe

In 2021, Banco Santander was recognized as one of the largest banks in Europe.

2022-06-13
Dodge & Cox becomes Santander's second shareholder

Dodge & Cox acquired a 3.038% stake in Banco Santander, valued at 1,364 million euros, making them the second largest shareholder in the bank.

2023
CHILE FIRST – Santander 2023 Strategic projects

In 2023, Santander launched the 'CHILE FIRST' initiative, focusing on strategic projects in Chile.

2024-02
Banco Santander launches share buyback

Banco Santander initiated a share buyback worth about 1.5 billion euros and increased its payout ratio to 50% in February 2024.

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