Santander Bank Raises Its Prime Rate to 8.25%

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Santander Bank raises prime rate to 8.25%

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• Santander Bank has raised its prime rate from 8.0% to 8.25%, effective May 3, 2023.

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• None.

BOSTON--(BUSINESS WIRE)-- Santander Bank, N.A. announced today it has raised its prime rate from 8.0% to 8.25%, effective May 3, 2023.

Santander Bank, N.A. is one of the country’s largest retail and commercial banks with $99 billion in assets. With its corporate offices in Boston, the Bank’s nearly 9,000 employees and more than 2 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) - one of the most respected banking groups in the world with 161 million customers in the U.S., Europe, and Latin America. It is overseen by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230503006073/en/

MEDIA:

Caroline Connolly

caroline.connolly@santander.us

Source: Santander Bank, N.A.

FAQ

What is the new prime rate set by Santander Bank?

Santander Bank has raised its prime rate to 8.25%.

When will the new prime rate be effective?

The new prime rate will be effective from May 3, 2023.

How much is Santander Bank's assets?

Santander Bank has $99 billion in assets.

Where are Santander Bank's corporate offices located?

Santander Bank's corporate offices are located in Boston.