Santander accelerates in private banking and surpasses 300,000 clients for the first time
The entity is pushing its most profitable business and is increasing by 20% the capture of clients from other areas of the group. Its assets have already reached 380,000 million.
Private banking is Santander's most profitable business, and far and away ahead of the rest. Ana Botín, its chairwoman, knows this and that is why over two years ago she appointed one of her top men, Javier García-Carranza, in charge of the division that encompasses it, Wealth Management & Insurance, with the mission of boosting it.
And he is achieving this. The number of the bank's wealthiest clients grew by 11% in one year and exceeded 300,000 at the end of June, marking a new milestone. The assets under management, deposits and loans of this select clientele reach €380,000 million, which almost represents quadrupling Unicaja's balance sheet, the sixth Spanish entity by assets.
Growth is 15%. Santander's strategy focuses on offering an open architecture with the best products from its competitors.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
