Santander Group

Banco Santander was founded on May 15, 1857, in Santander, Spain. It was established by a group of local businessmen to facilitate trade between the ports of Santander and the Americas. Over time, it grew from a regional bank into a global financial services group, becoming one of the largest banks in Spain and later expanding internationally.

In 1988, Banco Santander merged with Banco Central, creating Banco Santander Central Hispano (BSCH). This merger marked a significant step in the bank's growth, combining two of Spain's largest financial institutions and setting the stage for BSCH to become a major player in global banking.

In 1999, Santander Group acquired Banco Banespa, one of the largest state-owned banks in Brazil, for approximately $3.6 billion USD. This acquisition was part of Santander's strategy to expand its presence in Latin America, particularly in Brazil, which is a key market due to its large and growing economy.

In April 2004, Santander acquired Abbey National, one of the largest mortgage lenders in the United Kingdom, for about £9 billion. This acquisition marked Santander's entry into the UK financial market and was part of its expansion strategy in Europe, aiming to diversify and increase its global reach.

In October 2008, Santander completed the acquisition of Sovereign Bank in the United States for approximately $1.9 billion. This acquisition expanded Santander's influence in the U.S. market, and helped the bank diversify its holdings geographically amid the financial crisis of 2007-2008.

In 2010, Banco Santander successfully completed an initial public offering (IPO) in Brazil, raising about $8 billion. This marked one of the largest IPOs in history at the time and was a significant step for Santander in cementing its presence in the Latin American market, especially in Brazil.

In September 2012, Santander Group acquired the UK mortgage business of ING Direct for around €1.5 billion. This acquisition allowed Santander to expand its mortgage portfolio significantly in the UK, further establishing its presence in the competitive UK market and enhancing its growth potential in retail banking.

In January 2014, Banco Santander announced a capital increase of around €7.5 billion to strengthen its balance sheet and support future growth. This move was part of a strategic plan to boost the bank's capital ratios, solidify its financial position and increase the capacity for future expansion.

In July 2015, Santander launched Santander Innoventures, a $100 million venture capital fund aimed at investing in financial technology startups. The fund was designed to foster innovation within the financial services industry, allowing Santander to adapt to new digital trends and technologies.

In June 2017, Santander acquired Banco Popular Español for a symbolic price of €1. The acquisition was prompted by concerns over Banco Popular's liquidity and financial stability. Santander's intervention was seen as a measure to stabilize the Spanish banking sector and protect depositors.

In October 2018, Santander announced the launch of the world's first blockchain-based international money transfer service for retail customers in Spain, UK, Brazil, and Poland. The service uses Ripple's xCurrent technology to provide fast, transparent, and secure international payments, demonstrating Santander's commitment to innovation.

In December 2019, Ana Botín was appointed as the Chairperson of Banco Santander, ensuring continuity and strategic direction for the bank. Ana Botín, who has been credited with driving Santander's transformation, focuses heavily on digitalization, customer satisfaction, and sustainable growth across all of Santander's markets.

In response to the COVID-19 pandemic, Santander launched a large-scale global response plan on July 29, 2020. This included measures to support customers and employees, such as loan payment holidays, digital banking enhancements, and financial support for healthcare systems, highlighting the bank's commitment to societal welfare.