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June 17, 2011

The family behind Spain’s banking group Banco Santander has denied wrongdoing after being accused of alleged tax fraud by the country’s national court. 

The family behind Spain’s banking group Banco Santander has denied wrongdoing after being accused of alleged tax fraud by the country’s national court. 

According to reports, Santander chairman Emilio Botin and his daughter Ana Patricia Botin are under investigation, along with 11 other family members, for potential unpaid taxes. The Spanish court said that the alleged tax fraud, to the tune of around €120,000, occurred at the Botin family’s deposits at HSBC’s Swiss private bank.

March 8, 2011

Banking group Banco Santander, managed by the Botin family for 115 years, is to launch an initial public offering of its UK unit sometime in the second half of 2011, said the bank.

Banking group Banco Santander, managed by the Botin family for 115 years, is to launch an initial public offering of its UK unit sometime in the second half of 2011, said the bank.

Ana Patricia Botin, daughter of chairman Emilio Botin, is to oversee the IPO. She took over as chief executive of Santander UK in December last year, following the exit of former head Antonio Horta-Osorio.

August 4, 2010

Banco Santander, one of Europe’s largest banks which still has strong links to the founding family, announced today that it will acquire 318 branches from the Royal Bank of Scotland Group in a deal worth £1.65 billion.

Banco Santander, one of Europe's largest banks which still has strong links to the founding family, announced today that it will acquire 318 branches from the Royal Bank of Scotland Group in a deal worth £1.65 billion.

The deal will give Santander an additional 1.8 million customers in the UK and is expected to be concluded by the end of 2011. 

July 12, 2010

Banco Santander, the family-controlled banking group, announced today that it will acquire the German retail banking business of Skandinaviska Enskilda Banken (SEB Group) for €555 million.

Banco Santander, the family-controlled banking group, announced today that it will acquire the German retail banking business of Skandinaviska Enskilda Banken (SEB Group) for €555 million.
 
The acquisition adds 173 branches and around a million customers in Germany for Spain-based Santander. Family chairman Emilio Botin (pictured) said: "Germany is a core market for Santander. This acquisition is a significant step towards achieving our goal of being a full-service retail bank in Europe's largest market."

June 9, 2010

Banco Santander, the family-controlled banking group, announced today that it will purchase the remaining 24.9% of Santander Mexico for $2.5 billion.

Banco Santander, the family-controlled banking group, announced today that it will purchase the remaining 24.9% of Santander Mexico for $2.5 billion.
 
Spain-based Santander will buy the stake from Bank of America, who purchased the share in 2003 for $1.6 billion. This sale gives Santander 99.9% ownership of the Mexican unit, which is valued at $10 billion.
 

June 18, 2009

A unit of Banco Santander is being investigated by Geneva's public prosecutor for apparently defrauding clients by misrepresenting its relationship with Bernard Madoff.

A unit of Banco Santander is being investigated by Geneva's public prosecutor for apparently defrauding clients by misrepresenting its relationship with Bernard Madoff.

February 6, 2009

Campden FB’s Family Business Leader of the Year 2008 came out fighting yesterday as he announced record financial results for Spain-based banking group Santander.

Campden FB’s Family Business Leader of the Year 2008 came out fighting yesterday as he announced record financial results for Spain-based banking group Santander.

Chairman Emilio Botin has had a torrid start to the year as the bank his family has led since 1857admitted it had lost more than €2.3 billion of its clients' money with Bernard Madoff.

However, the bank has had its “best year in the last 20 years” with a net profit of €8.876 billion – not far off the €10 billion Botin predicted last June before the banking crisis really took hold.

January 13, 2009

Banco Santander is allegedly set to face an investigation by Spanish prosecutors into how the family-controlled bank lost more than €2.3 billion of its clients’ money with Bernard Madoff, the disgraced American fund manager.

Banco Santander is allegedly set to face an investigation by Spanish prosecutors into how the family-controlled bank lost more than €2.3 billion of its clients' money with Bernard Madoff, the disgraced American fund manager.

The Wall Street Journal is reporting that the authorities want to know "the details of Santander's relationship with Madoff's firm and when Santander knew about problems related to it."

November 11, 2008

Family-owned Banco Santander has decided to increase its capital by €7.2 billion through a deeply discounted rights issue of 1.599 billion new ordinary shares at a ratio of four to one.

Family-owned Banco Santander has decided to increase its capital by €7.2 billion through a deeply discounted rights issue of 1.599 billion new ordinary shares at a ratio of four to one.
 
Priced at €4.5 a share, which is 46% below last Friday's closing price, the transaction is fully underwritten by investment banks including Merrill Lynch and Bank of America.
 

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