Established in 1857, Banco Santander is now the largest bank in Spain in terms of total assets. The bank's main business activity is retail banking which provides more than a half of the bank's income. Banco Santander is the head bank of Santander Group (Spain).
In 2015 total assets of Banco Santander were 496,32 bln EUR.
Banco Santander is rated by Fitch, Moody's, Standard & Poor's. Long-term credit rating assigned to the bank by Fitch is A- (high credit quality). Long-term credit rating assigned to the bank by Moody's is A3 (upper medium grade). Long-term credit rating assigned to the bank by Standard & Poor's is A- (strong capacity to meet its financial commitments). Banco Santander participates in deposit guarantee scheme of Spain. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Banco Santander is headquartered in Santander.
|Address||Ps de Pereda, 9-12, 39004, Santander, Spain|
|Head of Group||Santander (Spain)|
time deposit accounts
structured deposit accounts
|Total Assets (2015)||496.32 bln EUR (-0.10%)|
|Total Equity (2015)||58 843.91 mln EUR (+13.27%)|
|Credit Ratings (as of Apr 2016)|
|Fitch||A- (high credit quality)|
|Moody's||A3 (upper medium grade)|
|S&P's||A- (strong capacity to meet its financial commitments)|
|Deposit Guarantee||Yes (up to 100 000 EUR per depositor)|
|European Presence||9 banks in 9 countries|
Credit cards are a convenient option to borrow funds for short-term financing. The following credit card products are offered by Banco Santander:
|Product||Card Provider||Annual Costs (EUR)||Product Link|
|Santander Mundo 1,2,3 [ES]||MasterCard||36.00||View Product|
[ES] This product is offered to Spanish residents only. When clicking on the product link you will be redirected to the product page in Spanish.
See Also: Credit Cards in Spain
In 2015 total assets of Banco Santander were 496.32 bln EUR. Decline compared to the previous period (2014) was -0.10%. The evolution of the total assets of Banco Santander is shown at Chart 1 below.
Recent changes in total assets of Banco Santander and its main components are shown in Table 1.
|Cash and deposits with Central Banks||7.0||12.4||+76.85%|
|Loans to banks||28.5||30.0||+5.07%|
|Loans to other clients||188.4||182.0||-3.40%|
|Table 1. Recent changes in total assets of Banco Santander (bln EUR).|
Recent changes in total liabilities of Banco Santander and its main components are shown in Table 2.
|Deposits from other clients||212.5||203.7||-4.11%|
|Table 2. Recent changes in total liabilities of Banco Santander (bln EUR).|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.Of the 'Big Three' rating agencies, Banco Santander is rated by Fitch and Standard & Poor's.
Credit ratings assigned to Banco Santander as of April 2016 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Banco Santander it is set to A- (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Banco Santander is set to F2 (good short-term credit quality).
|Long-Term Issuer Default Rating||A-|
|Short-Term Issuer Default Rating||F2|
|Support Rating Floor||NF|
Viability rating for Banco Santander is set to a- (high fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).
Long-term rating for Banco Santander it is set to A3 (upper medium grade). Long-term bank deposit rating is A3 (upper medium grade). Bank financial strength rating is baa1. Short-term rating is set to Ba1.
|Long-Term Bank Deposit Rating||A3|
|Bank Financial Strength Rating||baa1|
Outlook for the ratings of Banco Santander is set to stable (not likely to change).
Long-term foreign currency rating for Banco Santander is set to A- (strong capacity to meet its financial commitments). Long-term local currency rating is set to A- (strong capacity to meet its financial commitments).
|Long-Term Foreign Currency Rating||A-|
|Long-Term Local Currency Rating||A-|
|Short-Term Foreign Currency Rating||A-2|
|Short-Term Local Currency Rating||A-2|
Short-term foreign currency rating for Banco Santander is set to A-2 (satisfactory capacity to meet its financial commitments). Short-term local currency rating is set to A-2 (satisfactory capacity to meet its financial commitments).
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Spain are obliged to participate in Spanish deposit guarantee scheme.
In the case of Banco Santander failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||credit balances on accounts, nominative deposit certificates constituted in the EU|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
Further Information: Deposit Guarantee Scheme in Spain
Minimum reserves is the minimum amount of reserves a credit institution is required to hold with a central bank.
|Subject to MRR by ECB||Yes|
|Exempt from MRR by ECB||No|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Banco Santander and its components are shown in the table below.
|Bank BIC Code||BSCH|
|Country Code||ES (Spain)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Banco Santander is shown in the table below.