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LATEST ARTICLES
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BBVA could have bought Banco Sabadell much more cheaply in 2020. Sabadell’s CEO César González-Bueno has since turned his bank around. But BBVA’s return to the negotiating table comes at a time when European banking may be moving to a new and more confident phase.
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Intesa Sanpaolo’s Isybank is the latest in-house neobank to run into trouble. But the desire to migrate core-banking systems onto the cloud is still encouraging other banks to follow this strategy.
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As banks retreat to their home markets, they must find reliable partners to serve corporate customers overseas or risk losing them.
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The good news is that bank executives don’t see big loan losses ahead; the bad news is that they lack the confidence and vision to invest in the business.
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Santander Private Banking’s ultra-high net-worth segment is called Private Wealth and covers clients who have more than €20 million. The bank has been growing this segment in recent years and it now has more than 100 dedicated bankers and specialists in Latin America.
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If necessity is the mother of innovation, then it is perhaps no surprise that Santander Private Banking’s digital platform – which spans all the main Latin American private-banking clients – was the one that impressed the judges the most.
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With the growth in wealth in all regions – and particularly in Latin America, which has seen a soft commodities-boom generate large increases in the high net-worth segment in recent years – the key to serving these clients is efficiency.
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Santander Private Banking in Latin America enjoys certain natural advantages thanks to the bank’s geographical footprint and strategy. Overlaying the global bank’s strength within the region is dominance in Spain and Europe more broadly, as well as a presence in the US. This perfectly matches the domestic market for private banking in Latin America – the local presence is essential to serve these clients – while also offering access to the main markets that Latin Americans tend to think of first when seeking portfolio diversification.
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Santander’s presence in Brazil, Argentina, Chile, Colombia, Mexico, Peru and Uruguay means it is well positioned to support clients across Latin America.
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There is no better wealth manager in Latin America than Banco Santander. It won the award for best private bank in Latin America in Euromoney’s 2023 private banking awards.
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Banco Santander’s headquarters are in Europe, but the centre of gravity of its operations has been drifting westward to Latin America for many years now. Over the review period, the bank posted a solid year of progress among many of its Latin American markets, which comprise Brazil, Mexico, Chile, Argentina, Uruguay, Colombia and Peru.
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Isabel Guerreiro, head of retail and digital for Europe at Banco Santander, describes her employer as a digital bank with branches. This is what is behind the Spanish bank’s continued success with the small and medium-sized enterprise segment across Europe.
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The growing weight of non-European markets speaks volumes about the Spanish bank’s EM capabilities as other global banks have headed for the exit.
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Servicing demanding SME clients pays off if you take the long-term view.
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The Spanish lender continues to demonstrate the business case for inclusivity.
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The consistent growth in both the scale and the quality of Santander’s private banking business in Latin America this year has impressed the judging panel.
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Not many new private banking mandates are won thanks to an institution’s abilities in succession planning. But many a client has been lost over a bank's poor succession planning capabilities when this becomes a touch point for clients, as it inevitably does at some stage.
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Santander’s progress in its family office business is recognised by the judging panel not because of any specific innovation or differentiated approach, but rather for the focus on service quality that sets the bank apart.
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The echoes of 2014 have been loud in Brazil’s private banking industry over the past 12 months. A precipitous fall in interest rates – followed by a meteoric rise – has left the market completely the same but also very different.
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Banks like Santander, BNP Paribas and SocGen see auto finance and the future of mobility as critical pieces of their overall group strategies. But as mobility becomes an increasingly fractured business, what does the auto finance bank of the future look like?
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Santander executive chairman Ana Botín has stepped back from the M&A-based restructuring many assumed former CEO candidate Andrea Orcel would oversee. Euromoney asks Botín and her new chief executive, Héctor Grisi, how they plan to make this international retail bank succeed.
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Traditional banking career paths may be becoming a thing of the past.
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Central and eastern Europe’s best bank for corporate responsibility this year inevitably goes to an institution that has focused on aid for Ukrainian refugees. For many banks in the region, this was an overwhelming priority during the first days and weeks of the war.
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Small and medium-sized enterprises are particularly vulnerable to the economic shocks that have buffeted the region in recent months. Any bank that serves these businesses needs to be acutely aware of the challenges they face and have deep experience across the region in how to deal with them.
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Banking in Europe remains a national sport, with only a handful of domestic champions also running large businesses beyond their home markets. Banco Santander is recognized as the region’s best bank this year as a reflection of its progress in moving operations in Portugal, Spain and the UK onto a single operating platform along with those in Poland, which it also includes in its Europe division.
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The financial inclusion skills within the bank are becoming more relevant for broader retail banking.
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The war in Ukraine has further highlighted the benefits of Banco Santander’s diversification across Europe and the Americas, according to executive chairman Ana Botín. However, its European home market may be a big disadvantage in Citi’s looming auction of Mexican lender Banamex.
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Public blockchains have been shown to allow near immediate settlement of new issues. Why aren’t the primary markets embracing them?
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JPMorgan is named the world’s best wealth manager in Euromoney’s latest private banking and wealth management survey. It is testament to the US bank’s global strength in serving the wealthiest families, along with its drive to constantly transform itself and boost diversity as it hires the most talented relationship managers in core markets.
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Non-bank lenders are offering growing volumes of embedded finance both wholesale to merchants selling on e-commerce marketplaces and to their retail customers.
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Executive chairman Ana Botín will be under pressure after adverse ruling in Madrid
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Covid barely dented the strength of the banking system and most banks have been steadily releasing the provisions they took. Euromoney talks to the leaders of our 25 reviewed banks and others about the challenges they face as the world normalizes.
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After years when the UK and the US banks were Santander’s problem children, those markets are now leading its recovery.
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Rising inflation expectations matter to the banking industry. Santander CEO José Antonio Álvarez explains, however, that negative real rates will probably persist for the next five or 10 years because of Covid.
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The Spanish group’s retail footprint makes it uniquely qualified to address unbanked, underbanked and financially vulnerable individuals.
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Financial innovation of the year 2021: EIB shows how security tokens may transform financial marketsEuromoney’s inaugural award for innovation goes to a groundbreaking issue of digital native tokens on a public blockchain in a syndicated bond deal that drew interest from 100 investors. While institutional money flows into crypto and DeFi, leading banks and issuers are now also keen to transform traditional markets with digital assets and digital cash.
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The big question remains when governments will return to fiscal consolidation. How will NPLs fare when taxpayer support is withdrawn is also in doubt.
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Santander, under the leadership of its group chief executive Jose Antonio Álvarez, was the first international bank to really focus on the small and medium-sized enterprise segment across the markets in which it operates.
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ESG has surged in importance as a financing theme in Latin America over the past 12 months. Financial institutions of all sizes and types have been scrambling to emphasize how the components of ESG are now core to business strategy. It’s often hard to see through the messaging, but that’s not the case with Santander. The bank is truly a leader in embedding sustainable finance in the business. Its group executive chairman Ana Botín has championed the bank’s net-zero carbon ambitions, but it’s under the leadership of Santander’s group chief executive, Jose Antonio Álvarez, that the bank has become a sustainability leader in Latin America.
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Santander has spent four years catching up with local and regional rivals that were quicker to adapt to mobile banking. In 2017 it saw itself as the leading bank in Spain but found its app ranked 13th in the country. The bank’s leaders, under executive chairman Ana Botín, realized they had to transform Santander and give key senior executives specific responsibility.
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The past year has shown how building a corporate and investment bank more equivalent to its standing in retail could be a vital prop to Santander’s earnings, especially in Europe. Does divisional head José Maria Linares now have the backing to match his ambitions?
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Less charismatic chief executives will serve Europe’s banks well in the 2020s – unless it simply means that more power will reside with their chairmen.
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The Spanish group’s rise to private banking prominence didn’t happen overnight. An internal merger helped, as did work integrating Europe and Latin America. The next step will be the biggest of all, as it begins a concerted push into the US.
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Wealth managers profited from the volatility of 2020. With the same beneficial gyrations unlikely in 2021, Victor Matarranz, global head of Santander Wealth Management and Insurance at Banco Santander, says the hard work starts now.
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Brazil’s fintechs and digital challenger banks are making more ground than traditional firms with the central bank’s new payments system.
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Covid-19 has hit the Spanish lender particularly hard, but the pandemic could spur a longer-term strategic shift.
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Selling its US bank to PNC fixes BBVA’s capital problem and allows it to consolidate in Spain. Arch-rival Santander’s similar troubles may be harder to solve.
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Covid-19 adds to the urgency of reorientating retail to e-commerce. Combining Openbank with consumer finance is the logical next step in Santander’s cloud-based banking transformation.
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As European bank consolidation finally gets under way, Euromoney looks at the financial firepower of the region’s top 20 players. Which banks are now best-placed to do the acquiring and which are at risk of being swallowed up? Mid-tier banks in southern Europe look especially vulnerable.
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Chile’s new financial portability law came into effect in September, providing a huge shot in the arm to financial innovation in Latin America’s most stable banking market.
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Rushing back to capital distributions won’t solve the sector’s deeper crisis.
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Covid-19 has given the Spanish bank an opportunity to demonstrate the advantages of a global SME franchise, even for clients without international operations.
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The breadth and ambition of Santander’s diversity and inclusion programmes set it apart from its peers globally.
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BBVA is the big winner in Latin America in this year's Euromoney Awards for Excellence.
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Santander has been one of the most innovative groups in the world in its response to the Covid-19 outbreak, and its Polish subsidiary is no exception.
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As Spain became one of the countries hardest hit by the coronavirus, Spanish banks were quick to pledge financial support for small and medium-sized enterprises.
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Crédit Agricole takes the lead in Western Europe in this year's Euromoney Awards for Excellence.
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Santander is Latin America’s best bank for small and medium-sized enterprises. Many banks have SME offerings but few, if any, use the segment so effectively as one of the fundamental drivers of its growth.
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With lockdowns shuttering businesses across the continent, commitment to banking small and medium-sized enterprises has taken on even greater economic and social importance this year.
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As card fraud, identity theft and cybercrime surge, international banks need cutting edge technology to protect the weak spots in their correspondent networks.
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Banks have been trying to rebuild trust since the global financial crisis. They have touted corporate responsibility and stakeholder capitalism as core tenets of their businesses. Covid-19 and the subsequent economic crisis will be a big test of their commitment.
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The bank reports record profits, loan growth and no advance provisioning while Bradesco and Itaú focus on risks ahead.
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The coronavirus crisis has hit Europe so hard and so suddenly that banks have to radically rethink their normal approaches to dealing with a crisis.
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Banks need to play their part in rescues without putting all the burden on shareholder funds, says Santander’s group executive chairman.
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The country’s biggest firms are doing all they can to bolster their reputation, as the nation faces a human and economic crisis brought on by Covid-19.
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Banks came into the coronavirus pandemic much stronger than they went into the global financial crisis, but will the capital and liquidity buffers they have built be sufficient to see them through the most dramatic economic crash in history?
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The gravitational pull of Latin America on Santander has resulted in the move to appoint Santander Brasil CEO Sergio Rial to the bank’s board as executive director.
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Freshly empowered European bank chairmen are making perplexing lurches as they search for new chief executives. A random CEO generator might help.
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Best Private Banking Services Overall Net-worth-specific services: Mega HNW (>$250m) UHNW (>$30mln-$250mln) HNW ($5mln-$30mln) Super Affluent ($1mln-$ 5mln) Capital Markets and Advisory ESG/Impact Investing Family Office Services International Clients Investment Management Next Generation Philanthropic Advice Research and Asset Allocation Advice Serving Business Owners Data Management and Security Innovative or Emerging Technology Adoption
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With Santander Brasil registering record profits and Santander Mexico promising the same, the outlook for the group looks Latin. As its European business stalls, how will the bank be affected by Latin America’s shift from engine of growth to core business?
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Report says they must cut costs by 10%; years of 20%+ ROE are coming to an end.
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Lights, camera, reaction: Santander chairman Ana Botín opens up on TV.
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Spain’s biggest bank is moving further away from its deal-making past, instead seeing a way forward for its troubled US and UK banks in payments and cloud technology.
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HSBC takes the top spot in Euromoney’s survey for the third year in a row.
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It’s 2020: welcome to the decade of low-cost Brazilian banking.
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Spanish bank profitability will sink even further as left-wing populists Podemos enter a coalition with the socialist party, making a private-sector future for Bankia ever more remote.
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Itaú overtakes state-controlled Banco do Brasil to become the largest lender.
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Santander targets US retail deposits, as Goldman's Marcus finds online lending tougher than expected.
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European bank shares have sunk to levels not seen since 2008, and even some of the region’s bank CEOs admit it is hard to make a compelling investment case for them. Euromoney speaks to the people at the top about their potential to re-emerge as global leaders.
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European banks don’t have a continental market, right? Wrong. Even if they cannot do full-blown mergers, the cross-border consolidation of specific business lines offers a way of gaining some of the economies of scale that US and Chinese banks enjoy.
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The Trade Club Alliance, a new 14-bank partnership to match SME exporters and importers, reflects greater willingness among banks – especially in Europe – to work together against low-cost newcomers, while relinquishing their own global ambitions.
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Despite the headwinds for region’s banks, there were some outstanding performances that demonstrate what can be achieved without macroeconomic support. The best example of this was Santander Brasil, Latin America’s best bank.
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Banks’ track record on lending to small and medium-sized enterprises, the growth driver of the economy, remains a mixed one in Europe.
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DBS named world’s best bank in Euromoney Awards for Excellence 2019; JPMorgan is the world’s best investment bank; Erste’s Treichl recognized as banker of the year.