Santander Bank Lowers Its Prime Rate to 7.75%
Santander Bank announced a reduction in its prime rate from 8.00% to 7.75%, effective November 7, 2024. The bank, with $102 billion in assets, operates primarily in the northeastern United States with over 5,100 employees serving approximately 1.8 million customers. Santander Bank is a subsidiary of Madrid-based Banco Santander (NYSE: SAN), which serves about 171 million customers globally across the U.S., Europe, and Latin America.
El Banco Santander anunció una reducción de su tasa básica del 8,00% al 7,75%, efectiva a partir del 7 de noviembre de 2024. El banco, con 102 mil millones de dólares en activos, opera principalmente en el noreste de Estados Unidos y cuenta con más de 5,100 empleados que atienden a aproximadamente 1.8 millones de clientes. El Banco Santander es una subsidiaria del Banco Santander con sede en Madrid (NYSE: SAN), que atiende a alrededor de 171 millones de clientes a nivel mundial en EE. UU., Europa y América Latina.
산탄데르 은행은 기준 금리를 8.00%에서 7.75%로 인하한다고 발표하며, 이는 2024년 11월 7일부터 적용됩니다. 자산이 1,020억 달러인 이 은행은 미국 북동부를 주로 운영하며, 5,100명 이상의 직원이 약 180만 고객에게 서비스를 제공합니다. 산탄데르 은행은 마드리드 기반의 산탄데르 은행(NYSE: SAN)의 자회사로, 전 세계적으로 약 1억 7,100만 고객에게 서비스를 제공합니다.
La Banque Santander a annoncé une réduction de son taux directeur de 8,00 % à 7,75 %, effective à partir du 7 novembre 2024. La banque, avec 102 milliards de dollars d'actifs, opère principalement dans le nord-est des États-Unis et emploie plus de 5 100 personnes qui servent environ 1,8 million de clients. La Banque Santander est une filiale de Banco Santander basé à Madrid (NYSE: SAN), qui sert environ 171 millions de clients dans le monde entier, y compris aux États-Unis, en Europe et en Amérique latine.
Die Santander Bank hat eine Senkung ihres Hauptzinses von 8,00% auf 7,75% angekündigt, die am 7. November 2024 in Kraft tritt. Die Bank, die 102 Milliarden Dollar an Vermögenswerten besitzt, ist hauptsächlich im nordöstlichen Teil der Vereinigten Staaten tätig und beschäftigt über 5.100 Mitarbeiter, die etwa 1,8 Millionen Kunden bedienen. Die Santander Bank ist eine Tochtergesellschaft der in Madrid ansässigen Banco Santander (NYSE: SAN), die weltweit etwa 171 Millionen Kunden in den USA, Europa und Lateinamerika betreut.
- Prime rate reduction from 8.00% to 7.75% could stimulate lending and business activity
- Strong asset base of $102 billion indicates solid financial position
- Large customer base of 1.8 million demonstrates strong market presence
- Lower prime rate may reduce interest income and profit margins
Insights
The 25 basis point reduction in Santander Bank's prime rate to 7.75% follows the Federal Reserve's recent monetary policy shift. This move will directly impact the bank's lending margins and borrower costs. The decrease suggests potential margin compression in Santander's lending business, though it may stimulate loan demand. With
Santander Bank, N.A. is one of the country’s leading retail and commercial banks, with
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107622551/en/
MEDIA:
Caroline Connolly
caroline.connolly@santander.us
Source: Santander Bank, N.A.
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