Barron’s: The Best Bank You’ve Never Heard Of
That’s likely to change in coming years. Santander’s acquisition strategy - fix and grow broken banks - makes it likely the Spanish giant will boost its branch presence and profits in the U.S. Last January, it purchased troubled U.S. lender Sovereign Bancorp. The Pennsylvania-based bank, which lost $2.3 billion in 2008, is just a small part of Santander’s far-flung empire, with 14,000 branches in 40 countries on three continents.
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Tags: Sovereign Bancorp
