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43-557: SEB Pank (Estonia) DSK Hyp (Germany) SEB banka (Latvia) SEB bankas (Lithuania) SEB Corporate Bank (Ukraine) SEB Bank (Russia) Skandinaviska Enskilda Banken AB ( Swedish pronunciation: [skandɪˈnɑ̌ːvɪska ˈêːnˌɧɪlːda ˈbǎŋːkɛn] ), abbreviated SEB , is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and

86-632: A systemically important bank by the Financial Stability Board . Many subsidiaries, such as Abbey National , have been rebranded under the Santander name. The company is a component of the Euro Stoxx 50 stock market index . In June 2023, Santander was ranked as 49th in the Forbes Global 2000 list of the world's biggest public companies. Santander is Spain's largest bank. Banco Santander

129-514: A 5.1 percent stake in Monitise plc for £33 million. On 7 June 2017, Banco Santander purchased Banco Popular Español for a symbolic price of €1. In 2018, the bank announced a three-year push into Latin America to increase its presence in the market, particularly Brazil and Mexico, targeting these countries' super-rich. On 13 and 14 July 2019, the integration of the entire Banco Popular network

172-596: A 50% stake in Santander Asset Management. In 2010, Banco Santander expanded into China , focusing on trade finance services and establishing a joint venture with China Construction Bank . The venture was set up in 2011 with initial funds of 3.5 billion yuan (US$ 530 million). Santander and La Liga had a title sponsorship deal from the 2016–17 season , forming the Spanish football league known commercially as La Liga Santander . Santander sponsored

215-551: A consequence is directly supervised by the European Central Bank . This Estonian corporation or company article is a stub . You can help Misplaced Pages by expanding it . Banco Santander Banco Santander S.A. trading as Santander Group ( UK : / ˌ s æ n t ən ˈ d ɛər , - t æ n -/ SAN -tən- DAIR , -⁠tan- , US : / ˌ s ɑː n t ɑː n ˈ d ɛər / SAHN -tahn- DAIR , Spanish: [ˈbaŋko santanˈdeɾ] ),

258-516: A data centre that was to support operations across North America, Central America and South America. The new centre was to be established within the 'Development Company for High Technology Cluster of Campinas' on 1 million square metres. Construction began in January 2011, and full operation was expected in 2013 offering over 8,000 direct and indirect jobs. In 2013, global growth equity firm General Atlantic , along with Warburg Pincus LLC, acquired

301-561: A loan servicing agreement for the remainder of its liquidated US auto loan portfolio. The transaction closed in the first quarter of 2010. In September 2010, Santander purchased Bank Zachodni WBK from Allied Irish Banks . On 28 February 2012, Santander announced that it had reached an agreement with KBC Bank to buy KBC's subsidiary Kredyt Bank in Poland. Santander merged Bank Zachodni WBK and Kredyt to create Poland's third-biggest bank, valued at about €5 billion (US$ 6.7 billion), having

344-534: A market share of 9.6% in deposits, 8.0% in loans, 12.9% in branches (899), and more than 3.5 million retail customers. As a result of the merger, Santander came to hold 76.5% of the combined bank, and KBC came to hold about 16.4%; other shareholders held about 7.1% of the shares in the combined bank. Santander stated that it intended to buy more of KBC's shares in the combined bank to bring KBC's holdings below 10%; KBC affirmed it intended to sell its remaining stake. KBC sold its shareholding and Santander owns 75% of

387-444: A separate case, in which he was accused of insider trading . In 2007, the bank officially changed the official name back to Banco Santander S.A. In 1996, Banco Santander acquired Grupo Financiero InverMexico . In 2000, Banco Santander Central Hispano acquired Grupo Financiero Serfin of Mexico . On 26 July 2004, Banco Santander Central Hispano announced the acquisition of Abbey National plc. Following shareholders' approval at

430-570: A share buyback of about 1.5 billion euros ($ 1.6 billion) and raised its payout ratio to 50%. On 21 October 2024, Spain's Santander launched its digital bank in the United States, with the potential to fund up to $ 30 billion in vehicle loans. The Santander Group operates across Europe, South America, North America and Asia, partly due to its acquisitions. As of 2013 it had more than 186,000 employees, 14,392 branches, 3.26 million shareholders and 102 million customers. Retail banking —

473-505: Is a Spanish multinational financial services company based in Madrid and Santander in Spain . Additionally, Santander maintains a presence in most global financial centres as the 19th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America , and more recently in continental Asia . It is considered

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516-627: Is an Estonian bank, owned by the Swedish bank SEB . SEB is the second largest bank in Estonia and is a member of the international SEB Group. Until 11 April 2005 the name of the bank was Eesti Ühispank , which was originally founded in 1992 from a merger of 10 smaller banks. On 7 March 2008, the bank changed its name to SEB Pank. SEB is a universal bank focused on the Estonian market, offering full financial services to large, small and medium-sized companies,

559-447: Is chaired by Ana Patricia Botín-Sanz de Sautuola O'Shea , daughter and granddaughter of former chairmen Emilio Botin-Sanz de Sautuola y García de los Ríos and Emilio Botín-Sanz de Sautuola López , respectively. Santander has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank . Banco Santander

602-535: Is operating through six business divisions; Large Corporates & Financial Institutions, Corporate & Private Customers, Private Wealth Management & Family Office, Baltic, Life and Asset Management. The SEB Group is still owned and headed by its founding family, the Wallenbergs , with Marcus Wallenberg serving as chairman of the company's board of directors . The Wallenbergs' investments in SEB primarily come through

645-550: The EGM of Abbey (95 percent voted in favour, despite vocal opposition from most of those present) and Santander, the acquisition was formally approved by the courts and Abbey became part of the Santander Group on 12 November 2004. In June 2006, Banco Santander Central Hispano purchased almost 20% of Sovereign Bank and acquired the option to buy the bank (at the time, the market value was roughly US$ 40 per share) for one year beginning in

688-652: The UEFA Champions League for two years, from the 2018–19 season to 2020–21. Santander has also sponsored the main South American club competition Copa Libertadores since 2008 for the South American markets. In Formula One , from 2007 to 2017, Santander was a corporate sponsor of the Ferrari and McLaren teams. From 2022, Santander returned to Formula One as a premium sponsor of Ferrari. In March 2020, Santander Group in conjunction with La Liga announced

731-823: The United Kingdom . In Sweden and the Baltic countries, SEB is a universal bank , offering financial advice and a wide range of financial services to all customer segments. In Denmark, Finland, Norway, Germany and the United Kingdom the bank's operations have a strong focus on a full-service offering to corporate and institutional clients. SEB also has a presence in more than 20 locations worldwide including New York, São Paulo, London, Luxembourg, Geneva, Warsaw, Kyiv, Beijing, Shanghai, Hong Kong, Singapore and New Delhi. SEB serves 2,000 large corporations and 1,100 financial institutions, 400,000 small and medium-sized enterprises (SMEs) and some 4 million private individuals. The company

774-781: The $ 40 per share it would have cost in 2006, Banco Santander ended up paying less than $ 3 per share. The acquisition of Sovereign gave Santander its first retail bank in the mainland United States. Santander renamed the bank to enhance its global brand recognition in October 2013. On 14 December 2008, it was revealed that the collapse of Bernard Madoff 's Ponzi scheme might mean the loss of €2.33 billion at Banco Santander. On 10 November 2009, HSBC Finance Corporation announced its auto finance entities had reached an agreement with Santander Consumer USA Inc.(SC USA) to sell HSBC US auto loan servicing operations, US$ 1 billion in auto loan receivables for US$ 904 million in cash, and enter into

817-506: The Asian market. In June 2014, Santander bought GE Money Bank, GE Capital's consumer finance business in Sweden, Norway and Denmark, for €700 million (US$ 950 million). In September 2014, it was announced that Santander was in talks to merge its asset management unit with that of Unicredit to create a European firm worth €350 billion in assets. In November 2014, Banco Santander acquired

860-633: The B&;B's shares were delisted from the London Stock Exchange . By the end of 2010 the two banks merged with Abbey National under the Santander UK brand. In October 2008, the Group announced to acquire 75.65% of Sovereign Bancorp it did not own for approximately US$ 1.9 billion (€1.4 billion). Because of the 2008 financial crisis at the time, Sovereign's share price had fallen greatly: rather than

903-635: The European Union. In 2007 and 2008, SEB worked with the World Bank to develop the concept of green bonds, a form of bonds designed to accelerate the green transition. Later on, SEB Group would sell its banking operations in Germany and Ukraine as a result of weak profitability, the former to Spain's Banco Santander . SEB Kort AB , a subsidiary of the SEB Group, was the franchisee of Diners Club International in

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946-518: The Nordic Countries until closing said service on 31 May 2019, citing increased competition and regulatory pressure in the Nordic payment card market. The SEB Group's primary market is its home country, Sweden, where it is also the largest bank in the country, by both market capitalisation and total assets. It is also one of the largest Swedish banks by both employees and customers, with around 17,500 of

989-661: The Stockholms Enskilda Bank and Skandinaviska Banken, established in 1856 and 1864 respectively. Both banks played an important role in Scandinavia's industrialisation throughout the late nineteenth and early twentieth centuries, especially in Sweden. After a period of strong growth throughout the twentieth century, Stockholms Enskilda Bank and Skandinaviska Banken merged in 1972 to form the SEB Group. SEB's German and Baltic subsidiaries, being located in eurozone countries, have been designated as Significant Institutions since

1032-590: The UK, which it integrated with Santander Consumer Finance. In July 2008, the group announced it intended to purchase the UK bank Alliance & Leicester , which held £24 billion in deposits and had 254 branches. Santander also purchased the savings business of Bradford & Bingley in September 2008, which held deposits of £22 billion, 2.6 million customers, 197 branches and 140 agencies. The acquisition of Alliance & Leicester completed in October 2008 when

1075-472: The United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family , which is still SEB's largest shareholder through major investment company Investor AB . SEB is the largest Swedish bank by both market capitalisation and total assets. The SEB Group traces its origins to

1118-500: The bank, the rest is free float. In December 2012, Banco Santander announced that it would absorb Banesto and Banco BANIF , purchasing the remaining 10% of Banesto it did not already own. In October 2013, Santander acquired 51% of Spain's largest consumer finance business, Financiera El Corte Inglés , for around €140 million. Santander acquired a €470 million stake in HSBC 's Bank of Shanghai in 2013 to rebalance its business to

1161-579: The company has thematic policies on environment (including climate change, freshwater and biodiversity) and social and human rights. In addition to having developed the green bond concept together with the World Bank in 2007 and 2008, SEB was in 2014 also part of the creation of Green Bond Principles. This is partially in line with modern Swedish ideas of focus on reducing climate change. In 2009 SEB published its first sustainability report in line with Global Reporting Initiative (GRI) guidelines.  Since 2017

1204-704: The deal, Grupo Santander acquired ABN AMRO's subsidiary in Brazil, Banco Real , and its subsidiary in Italy, Banca Antonveneta . On 13 August 2007, Banco Santander Central Hispano changed its legal name to Banco Santander. In November that year, it sold Banca Antonveneta to Banca Monte dei Paschi di Siena , excluding a subsidiary Interbanca . In March 2008, Banco Santander sold Interbanca to GE Commercial Finance , receiving in return GE Money businesses in Germany , Finland and Austria , and GE's card and auto-financing businesses in

1247-656: The early twentieth century; these holdings were taken over by Investor AB , still primarily owned by the Wallenberg family today. Skandinaviska Banken was founded as the Skandinaviska Kreditaktiebolaget, one of the projects of the Scandinavian movement. Thanks to the efforts of André Oscar Wallenberg, Skandinaviska Banken was initially founded and headquartered in Gothenburg rather than Copenhagen , contrary to

1290-501: The end of that same year, SEB bought its first shares of the three Baltic banks Eesti Ühispank in Estonia, Latvijas Unibanka in Latvia and Vilniaus Bankas in Lithuania. This was the beginning of the bank's expansion into the Baltic states, a market in which it still has a large share. In the early twenty-first century, SEB was initially refused a merger with Swedbank , a decision made by

1333-522: The entry into force of European Banking Supervision in late 2014, and as a consequence are directly supervised by the European Central Bank . In 1972, Stockholms Enskilda Bank (established in 1856 by André Oscar Wallenberg ) and Skandinaviska Banken (established in 1864) merged to form SEB. Reasons for the merger included creating a bank better positioned to serve corporate clients and to fend off competition from major international banks. Through its predecessor, Stockholms Enskilda Bank, it claims to be

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1376-1038: The family-owned investment company, Investor AB . SEB signed the UN Global Compact 2004 and has since then committed to several global initiatives and international codes of conduct. Among them are the UN Universal Declaration of Human Rights, the UN Guiding Principles on Business and Human Rights, the UNEP FI Principles for Responsible Banking, the Net-Zero Banking Alliance, the Principles for Responsible Investments and Net Zero Asset Managers initiative. SEB has developed ten sector policies for agriculture, arms & defence, forestry, fossil fuel, gambling, mining & metals, renewable energy, shipping, tobacco and transportation. In addition,

1419-542: The first bank in the world to employ women. Stockholms Enskilda Bank was founded and run by the banking-involved Wallenberg family , and served as the lynchpin of their investment throughout most of the late nineteenth and twentieth centuries. Even today, its successor is amongst the most valuable of the Wallenbergs' various companies, alongside corporations like SKF , Atlas Copco and Ericsson , which it used to have major shareholdings in until Swedish legislation changes in

1462-411: The former and four and a half million of the latter. Other major markets of SEB are the Baltic states, where Swedish banks are prominent. SEB is one of the largest banks in Estonia, Latvia, and Lithuania, where Swedbank, another of Sweden's big four banks, is amongst its primary rivals. The SEB Group also has operations in most other Nordic countries , as well as larger foreign markets like Germany and

1505-548: The main aspect of Santander's operations – generates 74% of the group's profit. The top markets by revenue in 2023 were: Brazil (21.6%), Spain (17.4%), the US (12.3%), the UK (11.2%), Mexico (10.2%), Poland (6.3%), Chile (3.9%) and Portugal (3.6%). On 10 June 2010, Grupo Santander announced that it would invest approximately US$ 270 million (€200 million) in Campinas , Brazil in a technology centre for research and data processing and

1548-499: The merger former BCH executives accused Banco Santander chairman Emilio Botín Sanz de Sautuola y García de los Ríos who succeeded him, of trying to push his own agenda and threatened to take legal action. This post-merger disagreement was resolved when BCH executives Jose Amusátegui and Angel Corcóstegui agreed to accept severance payments, retire and pass control to Botín, at an expense to shareholders of € 183 million. The large termination payouts generated negative press, and Botín

1591-404: The middle of 2008. In May 2007, Banco Santander Central Hispano announced that in conjunction with The Royal Bank of Scotland and Fortis it would make an offer for ABN AMRO . BSCH's share of the offer added up to 28% and the offer would have to be made up of a capital increase through a new share issue. Then in October 2007, the consortium outbid Barclays and acquired ABN AMRO . As part of

1634-463: The public sector and private individuals. As of the end of 2004 SEB Eesti Ühispank had 629,000 customers, from which 580,000 were private individuals and 49,000 legal persons. The number of Internet banking customers in 2005 exceeded the milestone of 340,000. At the end of 2003, SEB Eesti Ühispank had 1,328 employees. SEB Pank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as

1677-483: The sustainability report is integrated in the Annual Report and is aligned with reporting frameworks such as Task Force on Climate-Related Financial Disclosures, TCFD and the Principles for Responsible Banking. Unlike many banks, SEB is rarely in controversy in relation to its climate policy, in contrast to larger financial institutions like JPMorgan Chase, Goldman Sachs and Credit Suisse. SEB Pank SEB Pank

1720-417: The wishes of Danish financier Carl Frederik Tietgen ; its headquarters was later moved to Stockholm. After its founding, the bank expanded throughout Scandinavia and eventually the rest of the Nordic region until its merger in 1972. In 1997, SEB acquired the insurance company Trygg-Hansa  [ sv ] , and in 1998, the company changed its Swedish-market logo and brand name from SE-Banken to SEB. At

1763-572: Was completed. This meant the definitive end of the Popular brand from a commercial point of view. In 2021, the bank was marked as one of the largest banks in Europe. Dodge & Cox became Santander's second shareholder in an operation carried out on 13 June 2022. The US fund has a 3.038% stake in the bank. At the time of purchase, given the value of 2.64 euros per share, this stake was valued at 1,364 million euros. In February 2024, Banco Santander launched

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1806-512: Was eventually brought to trial on criminal charges of "misappropriation of funds" and "irresponsible management". However, in April 2005, the court cleared him of all charges, the €164 million retirement payments made to the two former executives having been found to be legal, "made as compensation for the services provided to the bank". Also that year, the anti-corruption division of the Spanish public prosecutor's office cleared Botín of all charges in

1849-423: Was founded in 1857 as Banco de Santander. In 1999, it merged with Banco Central Hispano , or BCH, which had in turn been formed through the 1991 merger of Banco Central and Banco Hispanoamericano. The combined bank, known as Banco Santander Central Hispano, or BSCH, was designed to be a "merger of equals", in which the top executives of the two pre-existing firms would share control of the merged entity. Soon after

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