On November 2, 2022, local time in Madrid, Spain, Ana Botín, executive chairman of Santander Bank (hereinafter referred to as “the bank”), pointed out the strength contained in Latin America (the bank first expanded internationally in the region 75 years ago) and said that the region was fully capable of weather the crisis. Santander opened a representative office in Havana in 1947, followed by offices in Argentina and Mexico. The bank has invested more than $35 billion in the region since the 1990s. Today, Santander has 415 billion euros in assets in seven countries in the region, which together generated 42% of the bank's profits in the first nine months of 2022.

    Emphasizing Latin America's potential at a meeting with journalists from the Madrid, Anna Botin said, "We chose to start our international expansion in Latin America. Up to today, we have always believed that the region contains advantages and growth potential."

    Botin reviewed the region's macroeconomic ups and downs in recent decades to dispel fears of continued economic volatility. She added, "The situation in Latin America is better than what people could imagine. It can adapt to the development trend of macro economy to resist various variables in the future. The capitalization, supervision and regulation of its banking system have been further improved. The IMF expects Brazil and Mexico to grow faster than the United States. Both countries have lower inflation forecasts for the end of 2023 (below 5%) than Germany." The recent slowdown in inflation reflects that early actions taken by Latin American central banks have paid off.

    The executive chairman of Santander also talked about how the ongoing digitalization can support financial inclusion. Debit cards (1.8 billion, which has doubled in more than a decade) and the most innovative payment methods, such as QR codes and real-time payment, are booming in the region, where 70% of the population in the region owns smart phones. She also said, "Digital payment methods have completely changed the retail industry and employed a large number of employees in the retail industry in Latin America."

    For Botin, providing support for inclusive and sustainable growth is critical to the region's future. She said, "Latin America has the assets and talents to survive this difficult and unknown period. That is why we reaffirm our full confidence in the region." She pointed out that Héctor Grisi, the new CEO of Santander Bank, who will take office in 2023, is from Mexico. As the head of North America, he is responsible for one third of the group's business. She said: "As an international bank with Latin American roots in its DNA, we are proud to have a Latin American in such a key and important role. I have confidence in this region and its people."

    In Latin America, i.e. Brazil, Mexico, Chile, Argentina and Uruguay, about 90 million of the 159 million customers that Santander serves come from this region, and more than half of the 200,000 employees of the bank come from this region. In recent years, it has transformed its franchise to become the leading bank in Latin America.

    Santander Bank, founded in 1857, is an export-oriented bank. In the early days, Santander, Spain, carried out trade with Latin America. Until 1995, Bank of America's dominant position influenced Santander's business development in Latin America. But soon, the bank launched another fierce expansion in Argentina, Colombia, Mexico and Peru, while consolidating its established operations in Chile, Puerto Rico and Uruguay. Santander's brand value was 399.056 billion yuan RMB, ranking 59th in the list of "Daguan·the 2nd World Brand Value Top 900" officially released On July 30, 2022.

作者：肴筱临