Santander Puerto Rico takes The Bankers top honors
The Banker magazine has named Santander “Bank of the Year” in the United Kingdom, Mexico, Poland, Portugal, Argentina and Puerto Rico, the financial institution announced Thursday.
It is the seventh time Puerto Rico receives the distinction, the fourth year running for the United Kingdom and the third consecutive for Argentina. Poland has won the nomination six times in the last eight years and Santander Mexico wins for the first time, the magazine revealed.
Brian Caplen, editor of The Banker, said although Puerto Rico is dealing with a protracted economic recession, Banco Santander logged 49 percent growth in net profit in 2011 and a 12.6 percent return on equity.
The Banker’s awards mean Santander ranks as the best bank in five of its ten core markets.
He also highlighted the success of Santander Mexico’s IPO, its net profit growth of almost 35 percent in 2011 and its return on equity of 21.7 percent.
Founded in 1926, The Banker is a unit of the FT Business group of magazines and it is considered a leader in international banking and finance news. The Banker’s annual survey of the Top 1,000 banking institutions is an industry standard and its “Bank of the Year” awards are a benchmark in international banking.