[WorldKings - Wowtimes - Almanac Events & Achievements 2024] Banco Santander S.A.'s advances in 166 years of operation in the financial sector (1857)

06-02-2024

(worldkkings.org) Banco Santander S.A. doing business as Santander Group, is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres as the 19th-largest banking institution in the world.

Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. It is considered a systemically important bank by the Financial Stability Board.

The company’s milestones: 

1857: Banco Santander was founded as Banco de Santander.

 

 

Between 1900 and 1919: The company doubled the size of it balance sheet, increased its capital to 10 million pesetas, and raised revenue (posting nearly half a million pesetas in earnings in 1917), with above-average profitability for a Spanish credit institution at the time. 

The same period saw the founding of the three large Spanish banks that would be integrated into Banco de Santander: Banco Hispanoamericano (1900), Banco Español de Crédito (1902) and Banco Central (1919).

1923: The company moved headquarters to the Paseo de Pereda building in Santander; and founded Banco de Torrelavega.

1947: The company opened representative offices in the Americas, first in Havana, Cuba, and later in Argentina, Mexico and Venezuela, as well as an office in London. 

1956: The company’s Latin America Department was created.

1985: The company established Banco Santander de Negocios in Spain to carry out investment banking and wholesale market activities.

 

 

1989: It launched the “Supercuenta Santander”. This account changed the banking landscape and opened up Spain’s traditionally closed financial system to competition.

1995: The company developed business in Argentina, Brazil, Colombia, Mexico, Peru and Venezuela and at the same give new impetus to existing ventures in Chile, Puerto Rico and Uruguay.

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

2006: The company posted a record €7.596 billion profit, the largest of any Spanish company that year.

2010: It entered the retail and commercial banking business in the United States with the acquisition of Sovereign. In October 2013, Sovereign’s name was changed to Santander. That same year, Banco Santander also expanded into China, focusing on trade finance services and establishing a joint venture with China Construction Bank. 

 

 

2018: The bank announced a three-year push into Latin America to increase its presence in the market, particularly Brazil and Mexico, targeting these countries' super-rich.

2023: Banco Santander took another step in its transformation by migrating the Corporate & Investment Banking (Santander CIB) business to the bank’s new digital banking platform, Gravity.

According to en.wikipedia.org; santander.com. Source of photos: internet

 

Bee (Collect) - WORLDKINGS (Source of photos: Internet)

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