~100 mil

Santander professionals around the world are working remotely

~100 mil

Santander professionals around the world are working remotely

Employees

We have reorganised our way of working and implemented action protocols with the aim of protecting the health of all the Group's employees.

~145 m

customers

~145 m

customers

Customers and shareholders

We strengthened digital and remote channels and offer multiple solutions to help private and business customers. On the other hand, we are holding the Annual General Meeting remotely and are committed to reviewing the dividend and bonus policy for 2020.

25 m

in our Solidarity Fund

25 m

in our Solidarity Fund

Society

We collaborate with governments and institutions to support economies and are making donations to provide the most needed sanitary materials.

Press Releases Brazil Universities
17/07/2020
Santander Universities Brazil helps students pay their university costs

The "Superamos Juntos" scholarship will help university students carry on studying in the current context. Total investment of more than R$4 million.

Press Releases Santander Consumer
13/07/2020
Santander and EIB Group provide almost €760 million for SMEs affected by covid-19

The EIB is providing this loan as part of its initial package of emergency measures to support European companies.  Some of the funds will go to businesses operating in the agri-food sector and to investment in renewing transport fleets.

Press Releases Brazil
15/06/2020
Santander Brazil and Vivo combine efforts to import 200 ventilators

Santander Brazil and Vivo have taken the unprecedent step of joining forces to import 200 ventilators from China to support Brazil's healthcare network during the covid-19 pandemic. The Vivo-Santander partnership is another example of a solidarity initiative involving companies from different sectors with the common goal of achieving sustainable conduct in the area of social responsibility.

Press Releases Mexico
15/06/2020
Santander donates 600.000 euros worth of equipment and protection to doctors at the National Institute of Respiratory Diseases (INER)

Banco Santander Mexico donated 600.000 euros worth of equipment for caring for patients and protection for medical staff to the Mexican National Institute of Respiratory Diseases (INER) as part of its actions to help the community tackle covid-19.

Press Releases Brazil
10/06/2020
Santander releases package to support the automotive market during the pandemic

Starting today, Santander Brazil customers will be able to exchange their financed vehicle for a lower-priced alternative with more advantageous financing conditions and receive a cash transfer to their current account of the difference in value. This solution, known as Troca+Troco, is now being marketed by Webmotors, the bank's business and solutions platform for the automotive sector.

Press Releases Spain
04/06/2020
Banco Santander allocates €400,000 to 76 NGOs in order to protect vulnerable groups against covid-19

The “Covid19 Tiempo de Juego-Santander” initiative, developed in collaboration with COPE, will allocate €200,000 from the bank’s “Juntos” Solidarity Fund to 36 organisations throughout Spain. 

  • Santander has taken a number of steps to protect and support customers in the crisis, including: providing emergency liquidity for businesses facing hardship; facilitating payment holidays in many of our markets, or consolidating branches to protect customers while also ensuring continuity of service across the branch network.
  • On top of that, we have taken steps so that the bank has more flexibility to help our customers — specifically by cancelling our dividend policy this year and next, which allowed us to release a potential extra €90 billion of lending to the businesses and families that need it most.
  • As the pandemic evolves in each of markets the bank is reviewing the situation every day and acting in accordance with local needs in each of its markets.  

 Read summary of measures to alleviate the economic impact of the coronavirus

  • To protect the wellbeing of our employees we have been asking them to work from home wherever possible. There are more c.100,000 employees working from home across the Group, including employees from contact centres. 
  • We have also restricted all travel and asked that face-to-face meetings are postponed.
  • There are some employees who provide essential services, including certain branch staff and call centre teams. Wherever possible we are consolidating services to protect both employees and customers, while still ensuring that we maintain as normal a service for customers as we can.
  • Where branches have remained open we have also adopted additional measure to protect employees and customers, including restricted the number of people able to enter branches at any one time, closing branches in certain locations, special opening times. 

  • To support the global effort to fight the pandemic, Santander has created a fund to provide essential equipment and materials. The fund will be financed through a reduction in senior management, board compensation and voluntary contributions from Santander employees, and is initially expected to be worth at least €25 million.
  • Contributions will be deployed in areas that require immediate attention, including the production and purchase of medical equipment, protective clothing and other necessary supplies to treat people affected by the virus, as well as donations made to relevant entities and authorities. 
  • We will be working with governments and local authorities in each of our markets to identify the greatest needs and address them accordingly.
  • To protect jobs, in some markets we have also put commitment to place redundancy programmes on hold. This is being led locally depending on the nature of the impact and local needs.  

  • As we are close to the end of the quarter we do not expect to see a significant impact in our Q1 results, which should be in line with previous quarters. It is still too early to predict the longer term impact, which will depend on how the pandemic evolves.
  • In some areas of the business, customer demand has increased significantly. We are working hard to ensure we meet customer needs as quickly and efficiently as possible while operating with a reduced workforce. We are grateful to customers for their support and patience.
  • While the bank meets the capital requirements to maintain its current dividend policy (i.e. a 40-50% payout ratio) and is comfortable with its capital buffers over regulatory requirements, to ensure the bank has as much flexibility as possible to allow it to maximize lending and support businesses and individuals affected by the coronavirus pandemic, the board has agreed to suspend its dividend policy for 2020 and cancel outstanding dividend payments for 2019. This will be reviewed again once the uncertainty relating to the pandemic is resolved.

  • The circumstances in each market differ depending on the stage of the pandemic. In each of our markets we are responding to local needs. Determined to ensure customers are fully supported.
  • There are, however, some measures that are consistent in all countries, including restriction on travel and meetings, additional protective hygiene measures and reporting. 

 Read summary of measures to alleviate the economic impact of the coronavirus

  • It is critical that all organisation demonstrate solidarity in this crisis and that also extends to decisions regarding pay.
  • To support the fight against covid-19, the executive chairman and CEO agreed to forgo half of their pay for 2020 (salary and bonus). The board have also agreed to reduce their compensation by 20%. 
  • We are focused on managing the crisis, however, as we said in March, the group remuneration committee and respective country heads will propose how to translate this commitment to the management teams in the various countries in due course. 

  • At this stage, 100% of our focus is on fighting the immediate health crisis and the economic consequences.
  • We will of course ensure that our employees can return to work safely in due course, however, we will always work closely with governments and health authorities in each of our markets to ensure this is done in line with their guidance and best practise.

  • We take our responsibility to protect the safety of our employees and customers seriously, and where we believe ti is necessary to provide protective equipment in order to protect the continuity of the business (for example, to keep a branch open), we are doing so. 
  • We are also, however, acutely aware of the need to ensure that equipment is directed to where it is most needed and so we are only utilising equipment for employees where it is absolutely necessary. 

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