A spokeswoman for Spain’s largest bank,
Santander, has declined to comment on US press speculation that it
is set to drop its Sovereign Bank brand in the US.
She told RBI that Santander would not
comment on a story in The Boston Globe that Sovereign
would adopt the corporate identity of its banking parent as early
as next year.
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Sovereign Bank ended the second quarter of the
current fiscal with deposits of $47bn and assets of $93bn, the
20th largest US bank by that measure.
Sovereign Bank was acquired by Santander in
2008. Since then, Sovereign has shrunk its branch network from 747
outlets to 722 units; it serves 1.7m retail banking customers in
the north east of the US.
In the six months to 30 June, Sovereign posted
a net profit of $359m, up 58% year-on-year.
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