Spain’s Santander will invest around $6 billion between 2022 and 2024 to promote digital transformation of its Latin American operations. Santander’s diversification overseas, especially in Latin America, has helped the bank cope with tough conditions for lenders in Europe in the years since the financial crisis. It hopes that expanding in emerging economies will help it deliver faster growth than its core markets in Europe of Spain and Britain. Santander has previously said it invests around $5.6 billion in technology per year as a group. Around 40% of Santander’s profits come from Latin America, with Brazil being its biggest market there. The whole region is home to 80 million of its 152 million customers and to half of its 193,000 employees.
Santander’s purpose is to help people and businesses prosper. To be the best open financial services platform by acting responsibly and earning the trust of our employees, customers, shareholders, and communities. To be Simple, Personal and Fair in all we do. Loyalty strategy enables us to create value for our stakeholders. The talented and engaged team helps boost customer loyalty, enabling to generate solid shareholder returns and to support society. The unique personal relationships build strengthen customer loyalty. Santander has 148 million customers in markets of over one billion people. More than 100,000 employees deal directly with customers every day in the vast network of branches and customer service centers. 44% of all sales are online, and the use of digital channels is growing.