Spanish banking giant Santander under its new executive chairperson Ana Botin announced on Monday the purchase of the remaining 25% of Banco Santander Brasil which it did not already own.
Emilio Botin, El Presidente to co-workers and the third generation of Botins to run Santander, was at the forefront of a drive to create global banks, offering a one-stop shop to multinational companies and a range of services to consumers.
Ana Botin has been appointed the new chairwoman of the Spanish banking giant Santander, following the death of her father, Emilio Botin, who died of a heart attack on Tuesday night.
The presidents of the University of Buenos Aires, (UBA), the National Autonomous University of Mexico, (UNAM), and the University of Sao Paulo, (USP), on Tuesday signed a cooperation agreement governing the recognition of titles, student exchanges and cooperation in finding financing sources.
Uruguayan President Jose Mujica begins on Wednesday the longest and most ambitious of his overseas trips hoping to convince China to invest in infrastructure projects that are crucial for the development of the country and its foreign trade: a deep water port and recovering the rail cargo network.
Banking giant Santander said on Monday that it will absorb two of its Spanish offshoots, closing 700 branches in the latest stage of Spain's great banking shake-up. The biggest bank in the Euro zone by market value, said it could save 520 million Euros a year by absorbing the offshoots, Banesto and Banif.
Emilio Botin chairman of Santander Bank, the leading financial institution in Spain and among the top largest in the European Union said in Sao Paulo that Brazil is the “number one country in Latin America” and the absolute preference of his institution.
Spanish bank Santander has said its quarterly profits fell by more than 90% after taking provisions for bad property loans in its local market. Net income fell to 100m Euros in the third quarter from 1.8bn Euros in the same period last year, it said.
Emilio Botin president of Santander, Spain’s largest bank and one of the leading EU financial institutions said that Brazil is the top priority for the group since it is the source of 30% of its global earnings and anticipated the opening of more branches in merit to the country’s economic stability and social progress.
Spain’s leading bank Santander denied any plan to sell its Brazilian affiliate full or partly, as was published in the Sao Paulo media following discussions with Bradesco, another top listed Brazilian bank.