The region’s weight in favor of the group is 42% and more than 1 million customers a year add up to 45.76 million.
Recent results for Santander Bank It shows, once again, the effectiveness of its model: balanced diversification among the various businesses and markets in which it operates. A strategy that has become a hallmark of a financial institution and also a competitive advantage and a solid foundation for growth, especially in times of uncertainty and volatility. In the words of Anna Putin, the head of the financial group, The combination of the global and the local, supported by leadership in the various countries in which the Bank is present, generates a “virtuous circle” that promotes value creation.
In the first quarter of this year, the entity earned an attributable profit of €2.571 million, fully deducting the impact of the temporary tax in Spain expected for the year. Of these, 42% correspond to Europe, which leads the ranking of bank results by region with 1,189 million (at the end of 2022, its weight in earnings was 33%). This geographical area includes all commercial activities carried out in Spain, the United Kingdom, Portugal and Poland, with the exception of the Digital Consumer Bank, which brings together the entity’s consumer financing activity – under the Santander Consumer Finance (SCF) brand – and Openbank, the group’s 100% digital bank serving more than two million Agent in Spain, Germany, Holland, Portugal and Argentina.
followed by South America with 790 million (28% of the total); North America, which received 627 million (22%); and Digital Consumer Bank with a contribution of 244 million (8%).
In Europe we started An ambitious transformation process to create a better bank In which customers and our teams feel a deep connection to Santander, at the same time we deliver sustainable shareholder value, with a positive impact on society. This entails growing our business by providing better services to our customers, redefining the way we interact with them, and creating a simpler and more efficient joint operating model.
This project, under the name One Europe, was born in 2020 with a regional focus to run the business in the four European countries in which the Bank operates. It was also the first step towards building One Santander, one of the group’s global strategic priorities. “Last year we made great progress on our financial results and turnaround projects. This year we will accelerate with the aim of becoming the best bank in every country, supporting us in combining our local leadership with our European and global business,” they explain.
To do this, Banco Santander is focusing on five pillars: Focus on the client and the activity to increase the active customer base, improve service and experience; the Simplification and automation In order to improve efficiency through a common area operating model; Increase revenue from global business, increase Connection; more Connectivity By proposing value to individuals and SMEs; And Improve pricing policies and risk management.
All of this work has been reflected in customer growth, which increased at an annual rate of more than a million in Europe, to 45.76 million last March. And also in the results (the region’s profits grew by 19% compared to the first quarter of 2022) and trading volumes, especially deposits, which increased by 3%.
In case Spain, Santander has increased its customer base by 736,000 at an annual rate — that adds up to 19 months of consecutive growth — and it already has nearly 14.5 million. affiliate 466 million in attributable earnings in the first quarter28% more through March 2022. “We have made progress in improving service quality, automating and digitizing processes, and developing value propositions, simpler for people and specialized for high-value segments.”
in United kingdomProvisions amounted to 395 million euros, a growth rate of 11%. while the number of customers increased by about 200,000. In this country, the bank is placing special emphasis on its digital transformation programme, with efficiency improvements through the automation and digitization of key processes. also Portugal It shows a growing trend in both customers and results, which hit 180 after a 21% increase. finally, Poland It contributes €167 million, an increase of 49% year on year.
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