Santander
Company Culture and Strategic Orientation of Santander Bank
The general thrust in today's banking industry is either toward strategic expansion or eventual merger under the auspices of another bank's strategic expansion. As one of the top-tier performers and holders of capital in the financial industry and as the single largest banking entity in the Eurozone, Banco Santander finds itself in the former strategic category. As the discussion hereafter will show, Santander continues to grow even in spite of the recession that has crippled so many European banks and lending institutions. As the discussion here shows, this strategic orientation continues to define actions and initiatives taken by Santander.
Origins:
The company culture at Santander is sharply defined according to the age, prestige and traditionalism in place at the bank. As one of the older and larger-scaled banks in Europe, and in the world at large, Santander has a highly ingrained pattern of leadership hierarchy, proceduralism and personnel expectation. As its new subsidiary, the North American-based Sovereign Bank reports, "founded in Northern Spain in 1857, Santander has a successful history in retail and commercial banking, and has grown to become one of the five largest banks in the world by profit." (SB, p. 1) With more than 14,000 branches and 35,000 ATMs all over the world, Santander serves 80 million customers in 40 countries, employs more than...
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