Banco Santander is a retail and commercial bank, based in Spain, with a presence in 10 main markets. At the close of June 2010, Santander was the largest bank in the Eurozone by market capitalisation and, at the end of 2009, fourth in the world by profit. Founded in 1857, Santander had EUR 1,365bn in managed funds. Santander has more than 90 million customers, 13,671 branches – more than any other international bank – and 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In the first half of 2010, Santander registered EUR4,445m in net attributable profit.
More specifically in Latin America, Santander enjoys full domestic capabilities in Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay with extensive branch coverage and direct access to local clearing systems, thus no need for partner banks. This point is critical to deliver a quick and efficient service with full end to end monitoring of transactions processed. Santander’s strategic approach to cash management services is aligned with its fundamental competitive strength: combining strong local banks that have the widest product offering in each country, with delivering regional cash management solutions and a global relationship approach that meets customer needs.
Moreover, Santander has heavily invested in the development of strategic products to enhance its local cash management capabilities. Santander is convinced that these products complement its unparalleled retail presence in the region with leading regional technological and operational capabilities, to become the undisputed leader in transaction banking services. The main product lines supporting these regional developments are: