This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Santander Awarded World's Best Bank In 2012 By Euromoney Magazine

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.

(Photo: http://photos.prnewswire.com/prnh/20120712/PH37659 )

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs