The Banker magazine has granted Banco Santander the award for Bank of the Year in the Americas and Spain. The publication highlighted Santander’s “ability to innovate and to adapt solutions developed in one market to other businesses within the group”, as well as its ability to deliver returns, gain strategic advantage and serve their markets.
The Banker -founded in 1926- also emphasized Santander’s “outstanding commitment” to responsible banking, including its efforts to promote education, social welfare and financial empowerment with initiatives such as Superdigital, a platform which offers access to financial services to underbanked and individual micro entrepreneurs in Latin America, and Santander Ayuda, which promotes local projects for vulnerable people in Spain.
After receiving the recognition, Santander group chief executive officer, Jose Antonio Álvarez said that throughout 2020 their teams have worked hard to ensure they remain close to their customers in every market. “To be recognised by The Banker as the bank of the year across many of our markets is a great testament to their efforts in a challenging year”, he added.
The group’s diversification across both geographies and products remains one of the firm’s key strengths, with its South American region contributing 41% of underlying profit this year, North America, 20% and Europe 39%.
In Brazil, the magazine –which is part of the Financial Times group- recognized a number of innovation made by Santander during the year, including products like Sim, a fintech that provides quick and affordable loans; EmDia, a debt renegotiation platform that connects creditors with consumers in arrears, Santander Auto, a car insurance business or Pi: a fully digital investment platform, with an open architecture.
In Argentina, The Banker noted the new services and products the bank now provides for female entrepreneurs and younger customers. For example, iU, a new product with benefits designed specifically for young people. The bank also offers a comprehensive proposition which focuses on female entrepreneurs, owners of SMEs and professionals.
Lastly, in Spain, they pointed out the extraordinary measures Santander has made to support its customers during the COVID-19 pandemic: “Through a commendable mix of product innovation and business agility, Santander Spain has played an invaluable role in assisting the country’s businesses and consumers through an unprecedented economic and health crisis,” the publication said.
For Funds Society, Madrid