Santander is looking to make a loan to a European bank

Santander has long sought to play a major role in European financial banks, and has criticized the digital infrastructure on Wall Street that has been dominating the industry.

Their goal is to get rid of the biggest lender in Europe, who lived many years ago forty years Creating a consumer banking empire that extends 20 countries from its Spanish market to Poland and the US.

It also cites Santander’s pressure to evade the effects of low interest rates, which have damaged profits on his retail company. But while European activists like Deutsche Bank are neglecting their money in the bank, Santander sees an opportunity to use what he believes to be a difficult task. authority US lenders.

“In Europe it is safe to say that we have become one to three [investment bank]”, Says José María Linares, who has been recruited from JPMorgan to grow the working class in Santander. “Their goal is to become one of the European banks.”

The actions of the savings bank account for 15% of Santander’s revenue and 28% of its tax revenue in the first quarter of this year, but much of it comes from its cultural heritage on the Iberian and Latin American islands.

Chairman of Santander Ana Botin, who last year led the banks the first loss of the year in its 164-year history when the epidemic disrupted its consumer business, there are many plans for a financial bank. Even Santander’s work was accomplished first quarter, bank shares are still below 40% over the past four years.

Linares acknowledged that the bank could not be “everything to everyone”, but said it had already gone through several markets, climbing competition tables in strongholds such as high-yield loans.

Last year it was the first to provide global service funding – which provides funding for large-scale construction and industry – compared to the eighth in 2018, according to Inframation, a technology information provider.

The lender has jumped from being the 16th largest player in the European financial markets in 2018 to the fifth this year, according to Bloomberg data.

Linares, who joined the bank four years ago, hopes to improve its debt by building a new business in areas such as M&A, especially working with financial institutions.

Critics are taking a hard look at Santander’s efforts, but the warning that adding is no easier said than done.

“You do not have to be in the top three simply because you are going to leave,” said the head of a commercial bank to a European partner.

Of course, it is good for Americans to be able to compete, but I think our European customers in particular want to see European banks, and we are one of them.

Efforts to enter Europe’s major financial banks have continued despite the failure of Santander’s 2018 proposal to have Andrea Orcel, one of Europe’s best-known experts, as a senior.

The expansion of the commercial bank was part of 10 lessons that Orcel did for Santander, according to an expert, but his election ended in a legal battle.

Even Santander is the only lender in Europe who sees an opportunity. BNP Paribas is planning a similar push but from a major start with 12bn of annual revenue on its pre-epidemic market share, compared to Santander’s € 5.2bn.

Both banks benefited when US activists reduced their interest in European trade during the epidemic. With the BNP overseeing European tables on debt sales that split in the first half of 2020, Santander jumped 15th place in the third quarter, according to Dealogic data – although the Spanish bank came out in the top 10 this year.

“In Europe there should be a strong, healthy bank, without any doubt,” Linares said. “Obviously it’s good for Americans to be able to compete, but I think it’s especially our European customers who want to see European banks as well.”

The bank, headquartered in Madrid, also calls for an EU-led partnership to promote energy efficiency and help it achieve its goals in Europe, as well as existing relations with Santander and Mittelstand’s European small companies.

However, Santander is also pursuing its ambitions without a significant increase in staff. The number of banks in corporations and financial banks has increased from 4,350 in 2018 to 4,550 today – a figure that remains as low as Deutsche Bank and BNP.

But Linares insisted it was no obstacle. “It’s not very big, but what you’ve seen is a big change in people’s attitudes,” he said. “I think it’s a business where I need to have a few better people than the military.”