Banco Santander: Consolidates digital services into a single unit

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Banco Santander: Consolidates digital services into a single unit

Banco Santander: Consolidates digital services into a single unit

  • The creation of the new unit announced the bank reported a disappointing set of second quarter results
  • Thus saw profits down by 18% on restructuring costs and sluggish momentum
  • The bank also announce plans to spend EUR20 billion on digital technology
  • The first set of results from the unit, which includes Openbank, Global Payments Services
  • Therefore saw an 18% year-on-year increase in customer revenue of €48 million
  • Santander says digital adoption continued to accelerate over the first six months of the year