Santander Highlights in 2017
On 7 June 2017, Banco Santander acquired Banco Popular following its resolution by European and Spanish authorities. This transaction is underpinned by a good strategic and business fit for the Santander Group and will add value for customers and Banco Santander shareholders.
The acquisition provided financial stability to Banco Popular, enabling it to return to operational normality after a strong outflow of deposits in the preceding months, maintaining systemic stability and without drawing on public funds.
Banco Santander celebrated its 160th anniversary on 15 May 2017. The Bank was founded in the city of Santander, Cantabria (in the north of Spain) to finance the growing trade between the port of Santander and the Americas.
During the Group Strategy Update held in New York in October, Santander raised its target for return on tangible equity (RoTE) for 2018 from 11.0% to 11.5%. The increase reflected the improved economic outlook in some of the Group's core countries.
The Bank announced in November that it will be the official sponsor of the UEFA Champions League for three seasons starting in 2018. The Champions League is the world’s most prestigious football club competition, with mass audiences in Santander’s core markets in Europe and the Americas. The Champions League final is watched live by more than 160 million people.
Banco Santander and 40 universities launched in October Santander X, which aims to be the largest platform in the world for promoting university entrepreneurship. This is a network in which universities and entrepreneurs from all over the world will be able to collaborate, share ideas and knowledge, and attract investment.
The new Openbank uses an IT infrastructure hosted in the cloud. This enables it to offer a fully digital proposition with innovative features and meet the highest security standards.
Santander Río in April integrated the retail business acquired from Citibank N.A.’s Argentine unit into its network. As a result, it now has 482 branches, over 3.34 million individual customers, 288,000 SMEs and 1,300 corporates.
The Santander Group reached an agreement to acquire the commercial and private banking business of Deutsche Bank in Poland. This transaction reinforces Bank Zachodni WBK (the local subsidiary of the Santander Group) as the third bank in Poland. The acquisition is expected to generate a 15% return on investment in 2021 and be accretive to Santander's earnings per share.