Banco Santander stands as the largest Spanish banking group worldwide, serving over 121 million customers across its various divisions. Established in 1856, the bank employs more than 193,000 people. In 2015, the group reported a profit of nearly six billion euros and had a market capitalization exceeding 65.5 billion euros.
The success of Banco Santander and the entire Santander Group can be attributed to its geographically diverse presence in its top ten national markets. The group maintains substantial market shares in each of these countries, which include Spain, Germany, Portugal, Poland, Great Britain, Brazil, Mexico, Argentina, Chile, and the United States. Additionally, the bank holds significant market positions in Puerto Rico and Uruguay. Its consumer finance operations extend its reach into numerous other European nations, while its consumer finance and wholesale businesses provide exposure to the Chinese market.
Banco Santander operates several global divisions catering to both business and consumer banking customers. These divisions encompass Commercial Banking, Global Wholesale Banking, Santander Asset Management, Santander Private Banking, Santander Insurance, and Santander Cards. These units collaborate to meet the diverse needs of the Spanish financial services conglomerate’s customers worldwide.
The Commercial Banking division of Banco Santander offers a wide range of financial services and products to retail and business customers. They utilize their extensive commercial networks and online services to distribute a wide array of offerings to customers of all types at the local level. This approach enables the global business divisions to connect with the group’s vast customer base of over 100 million individuals.
The Global Wholesale Banking division caters to large corporations, institutions, and customers with specialized requirements. These clientele demand value-added products and personalized service tailored to their unique needs.
Santander Asset Management offers a global range of investments and savings products, which are efficiently distributed through Banco Santander’s commercial branch networks. To accommodate the varied needs of its customer base, SAM incorporates an extensive selection of investment products, including pension plans, investment funds, and portfolio options. The funds invested in these vehicles are allocated across a diverse range of locations and asset types.
Banco Santander Private Banking specifically targets high-income customers worldwide, providing both asset management and personal financial advice. This division operates from locations in Spain, Italy, the United Kingdom, and Latin America. It also supports private domestic banking operations throughout Latin American countries and Portugal, collaborating with locally based commercial banks to jointly manage these specialized operations.
Santander Insurance represents a substantial and impressive division within the group. It provides insurance protection and savings vehicles to more than 17 million customers across 20 different countries. The group employs multi-channel distribution networks to offer segmented insurance products. This model is global in nature but maintains local appeal through its customer focus and commercial network reach. The division prioritizes superior service, quality, and efficiency while targeting low-risk profile customers whenever possible.
Banco Santander Credit Cards, another significant division, provides payment processing services for both credit and debit cards. Managing 110 million cards across 16 countries, this division contributes 11% of the group’s gross margin. It employs advanced and continuously evolving technology to standardize risk management and provide effective training and management for its employees and business clients.
