MADRID, July 12, 2012 /PRNewswire/ -- Euromoney has named Banco Santander Best Bank in the World in 2012, the third time in seven years that the magazine has chosen Santander for this award.
The publication highlighted Santander's capacity to generate recurrent profits, even in economically difficult moments, and the soundness of Santander's balance sheet. The magazine attributes this to "two main reasons:" its international diversification and its efficiency ratio, "the best in international banking."
Santander has also been named Best Bank in five of its core markets: The UK, Poland (Bank Zachodni WBK), Portugal, Mexico and Argentina.Banco Santander Chairman Emilio Botin, who received the award for the bank in a ceremony in London yesterday, said: "We are the most diversified international bank and aim to be the best bank for our customers in the ten core markets. Santander will continue to put balance sheet strength, in capital and liquidity, above any other priority in coming years." Botin added that no other bank has leadership positions in 10 core markets, spread between emerging and mature markets. "This smoothes out our revenues and diversifies risks, so that even if one country is weak, the Group remains strong." Banco Santander chief executive Alfredo Saenz said: "This award is particularly gratifying, given the economic and financial backdrop. Euromoney's decision is a clear vote of confidence in the Group's strategy and capacity for execution." Euromoney said: "Over the past decade, chairman Emilio Botin and his management team have overseen a dramatic transformation of Santander's business, which has enabled the bank to deliver impressive and consistent growth and profitability while withstanding the shocks in its domestic market." The magazine pointed out Santander has been able to act quickly when it has been required to raise capital. "Santander is a bank that shows the benefits of a subsidiary model, in which its businesses are autonomous in terms of capital and liquidity and locally supervised. Santander is a key player in all of its core markets," the magazine added.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV