Stmnt.re Private Banking Unit
Banco Santander Central Hispano SA
15 January 2002
SANTANDER CENTRAL HISPANO BOOSTS ITS PRIVATE BANKING UNIT FOR NETWORK CUSTOMERS
Santander Central Hispano's Private Banking Unit is outperforming expectations
for the sector and consolidating its leadership in the highest segment of this
business.
Madrid, January 15th 2002. Santander Central Hispano has given a new boost to
its Private Banking business, which following the merger of the Banco Santander
and BCH branch networks, is consolidated as Santander Central Hispano Private
Banking.
This business unit is aimed at customers with a net worth in excess of one
million euros. Santander Central Hispano Private Banking has outperformed the
growth expectations for the sector, set at 10% for 2001. Thus, managed funds
doubled in the past year, reaching 12,000 million euros, whilst the number of
customers increased 75%, to 7,000. The average balance per customer is 1.68
million euros, the highest in the sector.
The boost to this business unit (which includes net worth structuring, tax
advice and investment management) is consistent with the Bank's decision to
offer an additional service to its customers through its 2,850 branches. Thus,
the private banking service is provided from two angles, with the regular
banking needs of customers being attended to by the respective Branch Manager,
and their advisory needs, by their respective Private Banking Officer.
Santander Central Hispano Private Banking has 150 professionals offering
specialised and specific solutions for each customer.
The Group is the leader in the Spanish Private Banking sector, combining two
business models: BSN-Banif, its specialised bank, and Santander Central Hispano
Private Banking, the private banking arm of the network. In total, it manages
funds in excess of 30,000 million euros, provides advice to approximately 74,000
customers, holds 370 Simcavs approved by the CNMV and has a market share of
19.1%.
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