Santander Bank Raises Its Prime Rate to 8.50%

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Santander Bank, N.A. has raised its prime rate from 8.25% to 8.50% effective July 26, 2023. The bank has $99 billion in assets and is a subsidiary of Banco Santander, S.A., which has 161 million customers worldwide.

BOSTON--(BUSINESS WIRE)-- Santander Bank, N.A. announced today it has raised its prime rate from 8.25% to 8.50% effective July 26, 2023.

Santander Bank, N.A. is one of the country’s largest retail and commercial banks with $99 billion in assets. With its corporate offices in Boston, the Bank’s nearly 9,000 employees and more than 2 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) - one of the most respected banking groups in the world with 161 million customers in the U.S., Europe, and Latin America. It is overseen by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230726995266/en/

Caroline Connolly

caroline.connolly@santander.us

Source: Santander Bank, N.A.

FAQ

What is the new prime rate set by Santander Bank, N.A.?

Santander Bank, N.A. has raised its prime rate from 8.25% to 8.50%.

When does the new prime rate take effect?

The new prime rate is effective from July 26, 2023.

How much in assets does Santander Bank, N.A. have?

Santander Bank, N.A. has $99 billion in assets.

Who is the parent company of Santander Bank, N.A.?

Santander Bank, N.A. is a wholly-owned subsidiary of Banco Santander, S.A.

How many customers does Banco Santander, S.A. have?

Banco Santander, S.A. has 161 million customers worldwide.