Santander Reorganizes Retail-and-Commercial, Consumer Operations
By Adria Calatayud
Banco Santander said it is consolidating its retail-and-commercial and consumer activities in all its markets under two new global businesses, a move aimed at aligning these operations with the model of the rest of the group.
The Spanish bank said late Monday that its retail-and-commercial and consumer operations will be housed under two new global businesses--retail and commercial and digital consumer bank. These new business segments add to the group's payments, corporate-and-investment banking, and wealth management-and-insurance businesses.
Santander said these five areas will become its primary reporting segments from January 2024. Country and region-specific data will become secondary segments in the bank's reporting going forward, it said.
Daniel Barriuso will head Santander's retail-and-commercial business, which combines all its retail and business banking globally, while Jose Luis de Mora will lead the digital consumer bank that houses all the group's consumer-finance activities worldwide, Santander said.
The bank said its financial targets outlined in February remain unchanged.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
September 19, 2023 01:46 ET (05:46 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks
-
After Earnings, Is Disney Stock a Buy, a Sell, or Fairly Valued?
-
Home Depot Earnings: Macro Factors Pinch Demand, but Long-Term Outlook Intact
-
Tariffs On Chinese EVs Offer US Automakers a Chance to Capture Demand
-
The Best REITs to Buy
-
3 Hot Stocks to Buy That Still Look Undervalued
-
After Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?