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SAN share (Madrid) Negativo_GB 5.571 | -1.21% | 18:00

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Banco Santander today announced the launch of Santander X, a partnership with universities to create the largest ecosystem for university entrepreneurship in the world.

Santander X will create an online network where universities and entrepreneurs throughout the world can collaborate, share ideas and expertise and even attract investment. It will allow universities to share best practices, and monitor and measure the impact of their entrepreneurship programs.


Banco Santander has today increased its return on tangible equity (ROTE) target for 2018.  The target has increased from 11% to over 11.5% due to an improving economic outlook in a number of the Group’s core markets. The change in target has been confirmed at Banco Santander’s 2017 ‘Group Strategy Update’ which has taken place today at the New York Stock Exchange. The event, attended by close to 200 analysts and investors, has been held in New York for the first time. 


Banco Santander has decided to implement, despite having no legal obligation to do so, a commercial action to provide a solution to retail clients who acquired shares and/or certain subordinated obligations of Banco Popular and were affected by the bank’s resolution, which was decided by the European authorities on June 6, 2017 and resulted in the loss of the value of their investment.


Santander is taking another important step in the integration process of Banco Popular. From today, Popular’s branch signage will include the Banco Santander flame, an initial phase of the rebranding that will take place following operational integration, expected to happen in 2019.


Santander InnoVentures, the fintech venture capital fund of Santander Group, announced today its investment in the U.S. based financial PayJoy, which is headquartered in San Francisco and has offices in Mexico. This is the 15th investment made since InnoVentures was founded three years ago with $200 million in funding.