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Openbank will gradually become the group’s brand for its consumer finance businesses in Europe.
Santander Consumer Finance and Openbank legal entities will operate under a single consolidated operating platform and legal structure.
Germany will be the first market to adopt Openbank as the single brand, followed by other markets.
The merger will simplify the business and give SCF and Openbank customers access to a broader range of products, while further enhancing the service provided to partners.
Madrid, 15 October 2025.
Banco Santander today announced that it will merge Openbank and Santander Consumer Finance (SCF) into a single legal entity and will gradually operate its European consumer finance businesses under the Openbank brand. Germany will be the first market to initiate integration, with other markets to follow.
Openbank and SCF are part of Santander’s Digital Consumer Bank (DCB) global business. The integration of these European businesses is therefore a natural step in simplifying the business, improving customer offering, and helping the group ensure that it provides the best service and financing solutions for partners, such as auto manufacturers, dealers or merchants, and their common end customers, further strengthening its ability to offer competitive solutions.
Openbank is Santander’s flagship brand for digital-first consumer banking, embodying the freshness and innovation of its cutting-edge technology. By combining intuitive design and continuous product innovation, it has achieved one of the highest net promoter scores (NPS) in its largest market in recent years. Openbank will carry the endorsement “by Santander,” which conveys the strength, stability, and trust of being part of a global banking powerhouse.
Openbank currently operates in four European countries (Spain, Germany, Portugal and the Netherlands) and has already launched in the United States and Mexico. Santander Consumer Finance (SCF) is the auto finance leader in Europe by loan volume (over €140 billion), with successful operations in 18 countries. Together, Openbank and SCF already support around 16,000 new customers every day with their financing needs across Europe, whether it is to buy a car, a mobile phone, a washing machine, a house or any other kind of personal finance.
In recent years, the combined management of Openbank and SCF has driven new business through partnering with large retailers such as Apple, Amazon or Vodafone in different European countries. This move will now allow SCF and Openbank customers to access a broader range of products as they will be able to enjoy the full offering of the combined business through a simplified and unified digital platform, with a single access point for banking, lending and payment solutions. Among other things, Openbank offers in different markets an automated investment service, Robo Advisor - a broker platform equipped with artificial intelligence-based tools that delivers target prices for European and US stocks and has recently launched a crypto trading service.
Bringing together Openbank and Santander Consumer Finance is an important step in our transformation to build the best open financial services platform. This combination will strengthen our position in key markets like Germany and across Europe, enabling us to offer customers a broader range of products and a seamless digital and in-branch experience. By leveraging Openbank’s advanced technology and Santander’s consumer finance expertise, we’re creating a more efficient and innovative digital-first bank ready for the future.
Santander will begin by merging the legal entities of Openbank and Santander Consumer Finance, headquartered in Spain, subject to regulatory approvals. At the same time, the group will consolidate Openbank and Santander Consumer Bank businesses in Germany.
Furthermore, the group will gradually roll out the rebranding across other European markets.