Banco Santander Stock Price, News & Analysis

Banco Santander México (NYSE: BSMX) is set to release its fourth quarter 2022 financial results on February 2, 2023, post-market close. A conference call will follow on February 3, 2023, at 10:00 a.m. ET, allowing stakeholders to discuss these results. The call can be accessed via specific phone numbers provided in the release. A replay of the call will be available until February 10, 2023. As of September 30, 2022, Banco Santander México had total assets amounting to Ps.1,932 billion and served over 20.8 million customers.

Santander Holdings USA has appointed Bruce Jackson as head of the Santander US Auto business and CEO of Santander Consumer USA, effective March 2023. He succeeds Mahesh Aditya, who will become Banco Santander's Chief Risk Officer in Madrid. Jackson aims to enhance dealer and manufacturer experiences and increase market share. Previously, he led Chrysler Capital and held roles at major finance companies. Santander US is a key market for Banco Santander, delivering sustainable financial results.

Santander Holdings USA has completed its sixth cohort of the Cultivate Small Business program, supporting 97 entrepreneurs in Dallas, Miami, and Philadelphia. This initiative awarded $300,000 in capital grants to graduates, bringing total funding to $1.2 million since 2017. The program focuses on women, immigrant, and BIPOC-owned businesses in low-to-moderate income areas, providing 12 weeks of training and mentorship. By the end of 2022, it will have assisted 360 companies.

Patrick Smith, Head of Consumer and Business Banking, emphasized the importance of supporting small business owners to strengthen communities.

Santander Bank, N.A. announced a prime rate increase from 7.00% to 7.50%, effective December 14, 2022. As one of the largest retail and commercial banks in the U.S., Santander Bank manages assets totaling $102 billion and serves nearly 2 million customers across multiple states including Massachusetts, New Hampshire, and New York. The bank operates as a wholly-owned subsidiary of Banco Santander, S.A. (NYSE: SAN), which has a global customer base of 159 million.

Santander Bank, N.A. has expanded its Commercial Equipment and Vehicle Finance business to include financing for healthcare organizations. This new nationwide offering will provide funding for advanced medical technology to hospitals, outpatient clinics, and specialized providers. The initiative aims to meet the rising demand for healthcare financing, especially in response to chronic diseases and an aging population. The program will be led by John Pack, a seasoned expert in healthcare equipment finance, leveraging Santander's existing infrastructure for nationwide transactions.

Santander Bank has announced the appointments of Donna Cleary as Market Manager and Jim Bravyak as Head of Underwriting & Portfolio Management. Cleary, who has been with Santander for four years, will lead efforts to capture opportunities with middle market companies in New York City and Long Island. Bravyak, with over 20 years of industry experience, will take on Cleary’s former role. Both report to Joe Abruzzo, Head of Commercial Banking. Santander is focusing on expanding its coverage in the New York Metro region.

Santander Bank, N.A. has increased its prime rate from 6.25% to 7.00%, effective November 2, 2022. With $102 billion in assets, Santander is among the largest retail and commercial banks in the U.S., serving nearly 2 million customers across several states, including Massachusetts, New York, and Pennsylvania. The bank is a subsidiary of Banco Santander, S.A. (NYSE: SAN), a prominent global banking group.

Santander Bank has announced updates to its Santander® Safety Net, enhancing its overdraft policy. The bank will eliminate the non-sufficient funds fee and reduce the overdraft fee from $35 to $15. These changes are set to take effect in November 2022 and aim to provide clients, especially the underserved, with more flexibility in managing finances. Since the launch of Safety Net in 2021, 75% of accounts faced fewer fees, and nearly half of overdrawn accounts avoided any fees.