Euromoney has named Santander Best Bank in Western Europe and Spain. The magazine believes Santander is “unique” in having a credit rating higher than its domestic sovereign. It highlighted the bank’s geographic diversification and its “network of separately-capitalised subsidiaries, several publicly quoted on stock markets outside Spain”.

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Press release
Santander named Best Bank in Western Europe
and in Spain by Euromoney magazine
■ Santander was also named Best Bank in Portugal, Mexico, Argentina and Puerto
Rico.
■ Euromoney believes Santander is “unique” in having a credit rating higher than its
domestic sovereign and highlighted the bank’s diversification and its subsidiaries
model.
Madrid, July 11, 2014. Euromoney has named Santander Best Bank in Western Europe and
Spain. The magazine believes Santander is “unique” in having a credit rating higher than its
domestic sovereign. It highlighted the bank’s geographic diversification and its “network of
separately-capitalised subsidiaries, several publicly quoted on stock markets outside Spain”.
The prestigious magazine also recognized the bank’s large retail banking and consumer
financing businesses in Europe that produce a large share of group earnings.
Santander won awards in five of its main markets. As well as Spain, it was named Best Bank
in Portugal, Mexico, Argentina and Puerto Rico.
Euromoney highlighted the successful merger of Santander, Banesto and Banif in Spain in
2013 and noted it was being completed ahead of schedule and had achieved market share
gains in customer funds and deposits, while cutting the cost of time deposits by 170 basis
points. In Portugal, it said: “Santander Totta continues to tower above the other Portuguese
banks. As well as being the only bank in the country that needed no state aid during the crisis,
Santander Totta is the best-rated bank in Portugal.”
Euromoney also stressed Santander’s growth in Mexico, where it expanded its portfolio by
12.6% and increased net earnings by 17.1%, and the fact that it enjoys the best efficiency rate
in the country. In Argentina, it noted Santander Rio maintained its market leading position in
loans and deposits from the private sector. In Puerto Rico, it noted that, despite the difficult
operating environment, Santander grew its attributable profit by 40%.
Euromoney, founded in 1969, is a recognized leader in business and financial news and
commentary. With readership of 145,000, Euromoney is seen by top executives, regulators
and officials in more than 170 countries. The magazine’s subscribers are mainly in Europe,
with about 30%, the UK, 23%, and the US, 23%. Euromoney’s anual Awards for Excellence
are a banking industry benchmark. The award winners are selected by the Euromoney editors
according to objective measures including profitability, growth and efficiency, as well as
subjective criteria.