The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

FIG Watch: Santander capitalizes on a worldwide view

Grupo Santander is often considered to be among the sharpest of borrowers, and it certainly has one of the biggest profiles. José Antonio Soler, who has run its funding operation for a year and a half, talks to Alex Chambers about the group’s quest for new pools of capital and its developing issuance strategy.

Grupo Santander has a number of different arms – in Brazil, Chile, the UK and Portugal, as well as at home in Spain in the shape of Banesto – but while all funding is executed locally, there is systematic oversight at group headquarters outside Madrid.

“We coordinate all transactions, all the analysis, at headquarters,” says José Antonio Soler, head of funding for Grupo Santander. “Every year all the banks make a liquidity plan and a funding plan, and we analyse and approve that plan in order to coordinate all the funding.”

He continues: “We coordinate the implementation of their plans. The execution of the transaction is local, although we avoid tapping the market at the same time in the same product. We coordinate, we have formal conference calls and committees regularly in order to discuss what we are thinking about issuing in all products. We have a plan that includes capital and liquidity projections. Whenever the parent bank or the other banks need to issue subordinated debt or preference shares, we analyse it case by case. In this kind of instrument it’s not only the funding: we need to analyse, on a consolidated basis, the kind of structure that the bank is going to issue.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree