Santander also received the Bank of the Year award in Spain, Brazil and Argentina.
Madrid, 2 December 2020.
Banco Santander has been named Bank of the Year for 2020 in the Americas, Brazil, Spain and Argentina by The Banker magazine. In making the award, The Banker 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 magazine also highlighted 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 promote local projects for vulnerable people in Spain.
Santander group chief executive officer, Jose Antonio Alvarez said: “Throughout 2020 our teams have worked incredibly hard to ensure they remain close to our customers across our markets. 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".
The group’s unique diversification across both geographies and products remains one its key strengths, with its South American region contributing 41% of underlying profit this year, North America, 20% and Europe 39%.
In Spain, The Banker highlighted 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 magazine said.
In Brazil the magazine recognised 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 iU, for example, is a new product with benefits designed for specifically for young people. The bank also offers a comprehensive proposition which focuses on female entrepreneurs, owners of SMEs and professionals.
The Banker has been a trusted source of banking information since 1926, and it is part of the Financial Times group.