Banco Santander Stock Price, News & Analysis

Santander Bank has announced the appointments of Donna Cleary as Market Manager and Jim Bravyak as Head of Underwriting & Portfolio Management. Cleary, who has been with Santander for four years, will lead efforts to capture opportunities with middle market companies in New York City and Long Island. Bravyak, with over 20 years of industry experience, will take on Cleary’s former role. Both report to Joe Abruzzo, Head of Commercial Banking. Santander is focusing on expanding its coverage in the New York Metro region.

Santander Bank, N.A. has increased its prime rate from 6.25% to 7.00%, effective November 2, 2022. With $102 billion in assets, Santander is among the largest retail and commercial banks in the U.S., serving nearly 2 million customers across several states, including Massachusetts, New York, and Pennsylvania. The bank is a subsidiary of Banco Santander, S.A. (NYSE: SAN), a prominent global banking group.

Santander Bank has announced updates to its Santander® Safety Net, enhancing its overdraft policy. The bank will eliminate the non-sufficient funds fee and reduce the overdraft fee from $35 to $15. These changes are set to take effect in November 2022 and aim to provide clients, especially the underserved, with more flexibility in managing finances. Since the launch of Safety Net in 2021, 75% of accounts faced fewer fees, and nearly half of overdrawn accounts avoided any fees.

Santander Bank, N.A. has increased its prime rate from 5.50% to 6.25%, effective September 21, 2022. The bank is a major player in retail and commercial banking, boasting $102 billion in assets and nearly 8,600 employees serving almost 2 million customers across multiple states including Massachusetts, New Hampshire, and New York. As a wholly-owned subsidiary of Banco Santander, S.A. (NYSE: SAN), the bank operates under the oversight of Santander Holdings USA, Inc.

Santander US has announced a $2.5 million commitment to City Year over three years to aid educational programs in underserved public schools across the U.S. This contribution includes $1 million for the Whole School Whole Child program and $1.5 million for City Year Dallas. The partnership will empower over 1,000 City Year Corps members with financial education and support, thereby impacting communities in New York, Boston, Miami, Philadelphia, and others. Since 2011, Santander's total contributions to City Year will reach nearly $5 million.

Apex Clean Energy has announced financing for the 224 MW Great Pathfinder Wind project, with a tax equity commitment from Bank of America. This project supports Meta through a power purchase agreement, marking Apex’s fifth collaboration with the tech giant. Upon completion, the wind facility in Iowa is expected to generate $73.9 million in local tax revenue and create nearly 300 jobs during construction. Apex aims to deliver over $50 billion in additional renewable energy projects, reinforcing its commitment to clean energy solutions.

Santander Holdings USA, Inc. has released its 2021 Environmental, Social, and Governance (ESG) report, showcasing its dedication to empowering communities and supporting the green economy. Key highlights include a $14 billion investment in community development, 46,000 individuals receiving financial education, and a commitment to carbon neutrality. Santander has also financed over $24 billion in renewable projects since 2018. The report reflects its efforts across three strategic pillars: empowering people, fostering inclusive communities, and supporting sustainable practices, furthering its commitment to ESG goals.

Rocket Mortgage has been designated as the exclusive preferred mortgage provider for Santander Bank's nearly 2 million clients. This partnership enables Santander customers to access home loan discounts and dedicated resources for enhanced homeownership experiences. Both companies emphasize delivering exceptional service and innovative technology. Rocket Mortgage closed $351 billion in mortgage volume in 2021 and has established a significant presence in online mortgage solutions. Santander Bank, with $102 billion in assets, operates primarily in the Northeastern U.S.