Having continually demonstrated a strong business case for its financial inclusion programmes, Banco Santander again wins the award for the world’s best bank for financial inclusion.
It is always a good sign when a bank that reaches its goals ahead of schedule immediately sets itself more ambitious ones. In 2019, Santander had said it planned to reach 10 million individuals through its financial inclusion programme by 2025. By the end of 2022, it had already reached 11.8 million people and so has now extended its commitment to financially empower a further five million people between 2023 and 2025.
“The renewal of the target has been made in the proposals that are much more connected to business,” says Lara de Mesa, global head of responsible banking at Santander.
Santander’s financial inclusion strategy covers three pillars: access, financing and building resilience through education. These three things look very different in each of the regions that the group works in.