Santander urges the EU to end discrimination against global banks
It proposes changes that would boost its business in emerging markets. The bank says that internationalization is a strategic asset penalized by European regulation.
Banco Santander has urged the European Commission to change regulations that it claims unfairly penalize European banks with international presence. The bank argues that its global operations, particularly in emerging markets such as Brazil, Mexico, and Argentina, which account for 35-40% of its global profit, are being hindered by European regulatory rules.
Santander proposes that the Capital Requirements Regulation be amended to recognize prudential measures adopted in third countries with equivalent or comparable regimes, allowing for more flexibility and reducing duplicated regulatory burdens. The bank believes this would enable European banks to compete on equal terms with global peers and support financial stability.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
