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SAN share (Madrid) Negativo_GB 4.093 | -1.59% | 17:35

The Banker names Santander Bank of the Year in Western Europe, Spain and Portugal

Santander, Banco del Año en Europa Occidental, España y Portugal, según The Banker

  • The Banker highlights that Santander achieved “a strong improvement in profitability” despite the economic situation in Europe, where “light appears to be emerging from the end of the tunnel”.

Madrid, November 28, 2014 – The Banker magazine has named Banco Santander Bank of the Year in Western Europe, an award the bank also received from Euromoney magazine in July. These awards from publications that are world leaders in international banking and finance news come in a year that is symbolic for European banks: 2014 saw the launch of the single supervisory mechanism following the comprehensive assessment of the sector.

The Banker highlights that Santander achieved “a strong improvement in profitability” despite the economic situation in Europe, where “light appears to be emerging from the end of the tunnel”. The publication emphasizes the bank's core capital at the end of 2013 of 10.4%, which would remain at levels well above the requirements under the different scenarios in the European Central Bank’s stress tests.

Santander was also named  Bank of the Year in Spain and Portugal. The Banker said the company was the “standout winner” in Spain thanks to a combination of “a clear strategy, strong fundamentals, a commitment to innovation and significant organisational restructuring in order to streamline its activities.”

The Banker said Santander Totta, the group subsidiary in Portugal, “has successfully charted a stable course to growth” despite the economic difficulties the country has faced. It described its 2013 net profit as “impressive”, and noted it was the most profitable bank in the country, which helped it win this award for eighth time in ten years.

Founded in 1926, The Banker is a unit of the FT Business group of magazines and is considered a leader in international banking and finance news. The Banker’s prestigious annual survey of the Top 1,000 banking institutions is an industry standard and its “Bank of the Year” awards are a benchmark in international banking. The award winners are selected by the editors of The Banker on the basis of objective criteria, such as profitability, growth and efficiency, as well as subjective criteria that include strategy, leadership and innovation.

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