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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.