'Banco Santander' is explained in detail and with examples in the Investments edition of the Herold Financial Dictionary, which you can get from Amazon in Ebook or Paperback edition.
Banco Santander is the largest Spanish banking group in the world. This giant financial institution boasts over 121 million customers among its various divisions. Founded in 1856, it maintains a staff of over 193,000 employees. For 2015, the group boasted a nearly six billion euros profit and a market capitalization of over 65.5 billion euros.
Banco Santander and the entire Santander Group is successful because it has a geographically diverse range in its top ten national markets. The group commands significant market shares in each of these countries. They are Spain, Germany, Portugal, Poland, Great Britain, Brazil, Mexico, Argentina, Chile, and the United States. The bank also controls important market shares in Puerto Rico and Uruguay. Its consumer finance business gives it a major reach into a number of other countries in Europe. It has exposure to China from both its consume finance and wholesale businesses.
Banco Santander operates a number of global divisions for business and consumer banking customers. These include Commercial Banking, Global Wholesale Banking, Santander Asset Management, Santander Private Banking, Santander Insurance, and Santander Cards. These groups all work together to help the Spanish financial services conglomerate satisfy its customer needs throughout the globe.
Retail banking and business customers receive financial services and products from Banco Santander’s commercial banking division. They also employ their extensive commercial networks and their online services to locally distribute their wide range of services and products to customers of all kinds. This way the global business divisions are able to reach out to the group’s over 100 million customers.
The Global Wholesale Banking division provides the group’s extensive services and products to large corporations, institutions, and customers with particular needs. These groups require value added products and specially personalized service.
Santander Asset Management delivers investments and savings products on a global scale. These are distributed effectively via the Banco Santander commercial branch networks. In order to provide for the diverse needs of its customer base, the SAM incorporates a large range of investment products. These include pension plans, investment funds, and portfolio options. Money which is placed into these vehicles the group invests in a wide range of locations and assets types.
Banco Santander Private Banking focuses specifically on the customers who are high income throughout the globe. It delivers both asset management and personal financial advice to these individuals. This division runs from locations in Spain, Italy, the United Kingdom, and Latin America. It also supports private domestic banking operations throughout the nations of Latin America and Portugal. This sub group works with locally based commercial banks to jointly manage these special operations.
Santander Insurance is a large and impressive division. It delivers insurance protection and savings vehicles in 20 different countries to its more than 17 million customers. The group employs multi channel distribution networks to provide segmented insurance. This model is global in nature but local in its customer appeal and commercial network reach. It focuses on superior service, quality, and efficiency while working with low risk profile customers whenever possible.
Banco Santander Credit Cards is another global and significant division. The business provides payment processing services to a variety of businesses. It handles both credit and debit cards. As such the credit card division manages fully 110 million different cards throughout 16 nations. This important division comprises 11% of all the gross margin for the group. It utilizes a cutting edge and constantly changing technology and platform to standardize the risk and provide effective training and management for its employees and business customers.