Over 38,000 companies directed trade flows between Santander España and the UK in 2020, when the bank's support to Spanish businesses setting up shop in the UK soared 50%.

Santander has made it easier for companies operating in both countries to open accounts, and is working with the DIT in Spain to organize events to respond to business leaders’ questions and concerns over the countries’ new relationship.

Madrid, 30 june 2021 - PRESS RELEASE
Santander and the UK Department for International Trade (DIT) have renewed the agreement they signed in 2017 to support businesses in the Spain-UK corridor. With Santander’s reach in both markets at its core, the agreement aims to drive trade between the countries, promote Spanish companies’ investment in the UK and vice versa. 

António Simões, regional head of Europe at Grupo Santander and CEO of Santander España, signed the agreement alongside DIT Director Jordi Laguarda. Also at the signing were UK Ambassador to Spain Hugh Elliot and UK Minister for Trade Policy Greg Hands.

Under the agreement, companies that operate in the corridor will take part in seminars, events and trade missions that aim to spread information on the latest features of trade relations between the countries, as well as customs and labelling advice.

The Department for International Trade (DIT) is the UK Government arm that helps foreign companies set up business in the country and supports exportation. 

The agreement forms part of the Spain-UK Corridor initiative Santander launched in 2017. In addition to a tailor-made service that makes it easier for businesses in both countries to open an account opening, it also includes expert advice by country specialists, financial solutions and digital capabilities in payments and collection, online finance tracking and online currency purchases.

Santander has a network of over 150 international trade specialists and International Business units with expertise in the most complex trade products and offers services to meet customers’ specific needs.

Over 38,000 companies directed trade flows between Santander España and the UK in 2020, when the bank's support to Spanish businesses setting up shop in the UK soared 50%.

The Spain-UK corridor is vital to trade between the countries: according to 2020 figures, the UK is Spain’s second largest investor and receives more investment from Spanish companies than any other country in Europe. It’s the non-EU country that also receives the most exports from Spanish companies (€17 billion); and it’s the third largest non-EU exporter to Spain, trading over €9 billion. 

The bank has several initiative to drive international trade. Its Santander Trade digital platform connects over 16,000 companies in many countries and provides SMEs with vast information to find their potential abroad.  Its International Desk service is helping SMEs set up shop and invest in other countries, promoting global integration. In the countries where it has retail operations, Santander provides custom, multilingual services and treats every company like a long-time customer from the beginning, offering a wide selection of specialist products for SMEs. Since 2011, when International Desk launched, Santander has enabled over 5,000 customers to go international and helped more than 2,200 foreign outfits open in Spain.  

Santander’s experience and significant presence in 10 core markets in Europe and America, with more than 11,000 branches worldwide and over 1,300 correspondent banks assisting customers in some 150 countries drive its ability to take Spanish companies global.  

Another mainstay of the bank is Santander One Europe, a new continental operating model created last year. Its efficiency stems from common product offering and regional management structures in Spain, the UK, Portugal and Poland so Santander can respond quickly to customers’ needs on a simple, effective platform with the best products and support from digital transformation.