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SAN share (Madrid) Positivo_GB 5.855 | 1.04% | 10:24

The subsidiary of Grupo Santander will now offer customers a full suite of banking products and services through an entirely redesigned mobile app and website. The new Openbank platform has been developed over the past 15 months in Spain using some of the most advanced technologies. It is one of the first banks in the world to use a cloud-based IT infrastructure. This allows the Bank to offer a 100% digital proposition with novel features and the most advanced security.


Banco Santander today announces that it has acquired Banco Popular. The acquisition takes place following an auction conducted by the Single Resolution Board and FROB in which Santander was selected as the successful bidder, paying a notional consideration of €1. As part of the transaction Santander will complete a rights issue for a total amount of €7 billion. This will cover the capital and provisions required to strengthen Popular’s balance sheet. Existing shareholders will be given preferential subscription rights. The rights issue is underwritten.