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Santander is set to close 95 branches across the UK, reducing its network to 290 full-service locations, with some branches transitioning to counter-free and reduced hours. This decision, affecting 750 employees, reflects a shift towards digital banking as customer behavior changes. To support affected customers, Santander will introduce community bankers and enhance mobile banking services.
Verizon and Santander Bank have launched the Verizon + Openbank Savings account, offering a high-yield savings option with an interest rate 10 times the national average. Customers can save up to $180 annually on Verizon bills by maintaining a minimum balance of $1,000. The account can be easily accessed and managed through the MyVerizon app and Openbank's platform, enhancing financial benefits for Verizon's customer base.
Banco Santander (NYSE: SAN) reached a new 52-week high of $6.84, with analysts maintaining an average "Buy" rating despite some downgrades. The bank reported earnings of $0.21 per share, meeting expectations, and announced a dividend increase to $0.1152 per share, yielding 2.4%. Institutional investors have recently increased their stakes, reflecting growing confidence in the bank's performance.
Banco Santander's stock rose 2.5% following a new partnership with Verizon, which introduced the Verizon + Openbank Savings account. This account offers Verizon customers a high yield savings option with an interest rate ten times the national average and potential savings on their Verizon bill. The collaboration aims to enhance Santander's presence in the U.S. digital banking market while providing unique financial solutions for Verizon's customer base.
Verizon Communications Inc. is reportedly exploring a partnership with Banco Santander to enhance customer satisfaction through extended bill credits for Verizon customers who open high-yield savings accounts with Santander's digital bank. This collaboration aims to bolster Santander's presence in the U.S. while helping Verizon expand its subscriber base. The partnership aligns with Verizon's customer-centric model, focusing on 5G adoption and digital inclusion initiatives.
Verizon Communications Inc. is reportedly exploring a partnership with Banco Santander to enhance customer satisfaction by offering extended bill credits for opening high-yield savings accounts with Santander's digital bank. This collaboration aims to boost Verizon's subscriber base while helping Santander expand its presence in the U.S. market. Both companies stand to benefit from this potential deal, which aligns with Verizon's customer-centric model and ongoing investments in 5G technology and digital services.
Santander is committed to becoming a more responsible bank, aiming to raise €220 billion in green financing by 2030. In partnership with Verizon, Openbank is launching a high-yield savings account for Verizon customers, offering rates 10 times the national average and potential savings on Verizon bills. The digital banking platform, which debuted in the U.S. in late 2024, aims to provide secure, fee-free banking with 24/7 access.
Banco Santander's stock reached a new 52-week high of GBX 538 ($6.99) during trading, reflecting a 2.1% increase. With a market capitalization of £98.75 billion, the company operates in various financial sectors, including retail banking and corporate finance. Despite its recent performance, analysts have rated it as a Hold, suggesting that other stocks may offer better investment opportunities.
Spanish Bank Santander has partnered with Verizon Communications to enhance its expansion efforts in the U.S. This collaboration aims to strengthen Santander's presence in the American market, leveraging Verizon's extensive telecommunications network.
Santander plans to expand its U.S. operations through a partnership with Verizon, allowing select Verizon customers to earn bill credits by opening high-yield savings accounts on Santander's new digital banking platform. The bank is also exploring additional partnerships to establish itself as a full-service digital bank in the U.S.
Banco Santander, S.A.
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