Santander is moving closer to the top of Europe’s banking sector by assets following its acquisition of US bank Webster. The deal brings the Spanish lender’s assets to €2.1 trillion, leaving it behind only France’s BNP Paribas and Crédit Agricole among European banks.
By market capitalization, however, Santander ranks first in Europe despite a recent decline, followed by BBVA. The ranking reflects investors’ confidence in the profitability of Spanish banks, while French lenders face concerns linked to public debt and political instability in France.
Santander remains far behind the world’s largest banks, which are primarily Chinese, and ranks 15th globally by assets. The Webster acquisition forms part of a wider strategy focused on international diversification, efficiency improvements and artificial intelligence. If those efforts deliver the expected results, they could help the bank improve its position.
Sources: El País Economía.