Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Santander Bank-2
Companies and corporations

History of the founding and development of Spain’s largest Santander bank

01.12.2021
2 min read

How Santander bank managed to become a leader in Spain and Latin America

Santander bank is the leader of the Spanish financial market and is represented in many countries around the world. It was founded in 1857, and the decree creating the institution was signed by Queen Isabella II herself. Its activities were originally focused on other countries, through the bank carried out trade transactions between Latin America and the port of Santander, located in northern Spain.
The bank was actively developing, and during 1900-1919, its capital grew to 10 million pesetas. The figures of this institution significantly exceeded those of other financial institutions in Spain. During this period Santander absorbed three banks, greatly expanding its influence and the number of customers.
An important stage in the development of the financial conglomerate is the time from 1919 to 1939. At that time the bank opened a network of representative offices in different regions of the country, and created the Banco de Torrelavega. This trend was continued in the future, in 1950 the new president of the institution initiated a large-scale increase in the number of branches, which was carried out, among other things, by the acquisition of local banks. In 1942, Santander merged with Banco de Avila, which operated in Madrid. The capital was the financial center of the country, and this acquisition allowed the institution to strengthen its position in the market. A few years later Santander acquired its competitor in the region – Mercantil Bank, and by 1947 the first representative office was opened in Havana. A little later opened offices in other Latin American cities, as well as in London.
In 1976 Santander bought several banks in Chile and other countries of the region. This allowed the financial institution to become a leader in the commercial banking segment of Latin America.In 1985 the conglomerate opened a separate division in its home country, which is engaged in investment direction and corporate support. At the same time Santander began to expand its position in the European market, and the first step was the acquisition of a bank in Germany that specialized in automobile lending.
1989 Santander introduced a new product, the savings account, one of the most significant events in the bank’s history. Thanks to this service, the Spanish financial system became competitive in the international market.
The financial institution continued to actively conquer Latin America by acquiring local banks. Thanks to major mergers, by 1999 Santander had taken the lead in the region and in Spain.
Now the bank is among the top 20 financial institutions by market capitalization, and boasts the largest network in Latin America and Europe.

Tags: Companies and corporations
0
Previous Post Expert from BCS Investment World talks about the dollar collapse Next Post American trader Stephen Cohen: The businessman's success story

You Might Also Like

the French company Schneider Electric
Companies and corporations
The French company Schneider Electric: Areas of operation
30.05.2022
ebay
Companies and corporations
How the most famous online auction eBay began: the history of the site
02.10.2021
TikTok
Companies and corporations
What accounts for the success of the short video platform TikTok
21.05.2024
Luxottica
Companies and corporations
History of Luxottica, owner of the Ray-Ban brand
30.04.2023
Cessna
Companies and corporations
The Cessna aircraft company: how it all began
24.01.2023
Thermo company
Companies and corporations
Thermo Fisher Scientific company: overview of education and field of activity
04.07.2021

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics