Spanish Financial Sector: The Santander Case

Abstract

The recent acquisition ofthe assets ofABN in Brazil is the latest step ofthe international expansion ofSantander. The international career began in the Fifties in Latin America, continuing in Europe, strengthening the positions in Brazil, Mexico and Chile in the late 90's, consumer finance operations in other EU countries, later in the UK with Abbey and finally the USAwith a stake in Sovereign and purchase ofDrive.Santander would not be what it is without its experience in Latin America, and without a solid domesticbase built up on operational efficiency, thanks to cost and risk control along with investment in innovationand technology.With Abbey, the group reached a geographic coverage, achieving a diversification ofits revenue sourceswith operations in three currencies (euro, dollars and pounds).The Santander has never been closed to further evaluate opportunities provided they fit with the growthstrategy and create shareholder value