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Ana Botín, chairwoman of Santander, has called for European banks to utilize their capital buffers to invest in the defense sector amid rising geopolitical tensions. She emphasized the urgent need for Europe to rearm and suggested that releasing these funds could significantly boost private investment in defense, which has been historically limited. Botín's remarks highlight a shift in perspective on financing defense, urging a reevaluation of regulatory frameworks to support this critical area.
Ana Botín, executive chair of Santander, emphasizes the transformative impact of AI and automation on society, advocating for a new social compact to address economic disparities. Her disciplined routine mirrors that of an Olympic athlete, balancing a demanding career with family life while promoting innovation and smart risk-taking in banking. Santander's recent success, marked by significant profits and a growing customer base, reflects her leadership in navigating a complex financial landscape.
UBS has seen its market capitalization stagnate at around $106 billion, recently overtaken by Spain's Santander, which has surged to $107 billion amid a 50% rise in share price this year. European banks are benefiting from rising interest rates, with BNP Paribas nearing the $100 billion mark and analysts optimistic about future growth. J.P. Morgan has raised its price target for UBS, reflecting confidence in its potential despite current challenges.
Banco Santander is set to close 95 branches in the UK, impacting up to 650 employees, as part of a restructuring plan aimed at adapting to changing customer needs amid increasing digitalization. The bank will maintain 290 full-service branches and implement new service strategies, ensuring 93% of the population retains access to banking services. Despite rumors of a potential sale, Ana Botín emphasized the UK market's importance and the subsidiary's profitability, while growth is expected to be driven primarily by operations in the Americas.
Verizon and Santander Bank have launched a high-yield savings account for Verizon customers, offering up to $180 off their bill annually and an interest rate ten times the national average. The account features no fees, low minimum deposits, and 24/7 access to funds, enhancing Verizon's financial services. Starting in April, customers can register online or via the MyVerizon app, with plans for additional banking products in 2025.
Verizon has partnered with Santander Bank to introduce the Verizon + Openbank Savings account, offering a high yield savings rate 10 times the national average and potential savings of up to $180 annually on Verizon bills. Customers can sign up easily through Verizon's website or app, gaining access to a secure digital banking experience with no fees and 24/7 support. This initiative aims to enhance financial services for Verizon's mobile and 5G Home customers while expanding Santander's U.S. presence.
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'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.
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.
President Trump has nominated Michelle Bowman as the Federal Reserve's vice-chair for supervision, aiming for a more industry-friendly regulatory approach. Meanwhile, UBS has delayed its net zero target from 2025 to 2035 due to an expanded corporate real estate portfolio after acquiring Credit Suisse. Close Brothers reported a £104 million loss linked to a car finance scandal, while Santander plans to expand its US presence through a partnership with Verizon, offering bill credits for new high-yield savings accounts.
Ana Patricia Botin
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