Trading Statement
Banco Santander Central Hispano SA
3 August 2001
BANCO SANTANDER CENTRAL HISPANO, SA
'We are achieving the best results in our Bank's history because we understand
clearly that our role is to create value. And we achieve this through hard work,
innovation and serving customers better than anyone else,' Banco Santander
Central Hispano chairman Emilio Botin said this afternoon during a meeting at
the Hotel Real in Santander with shareholders and customers resident in Latin
America.
In referring to the present situation at the Bank, Botin said that over the past
two and a half years, as well as consolidating the merger, all business
opportunities have been taken advantage of. Evidence of this is the strong
positioning of the bank in Spain with its own branch networks and that of
Banesto, and in other countries such as Mexico, Brazil and Portugal, as well as
in joint operations with The Royal Bank of Scotland.
'This great bank and these results, which I would go so far as to describe as
exceptional, would have been impossible without the merger undertaken so
successfully more than two years ago by Chairman Amusategui and myself. We have
made some extremely important decisions during this time and will continue to do
so, because we are acutely aware of our responsibilities in the countries where
we operate, to our 35 million customers, one million shareholders and 120,000
employees. And also of the demands this means for the management team, with
which we are highly satisfied.'
He added that anything worthwhile requires an effort. 'You more than anyone know
that the hardships are there to be overcome. Aconcagua is not climbed by
dreaming, but on the basis of preparation, hard work and the best team
available'.
'No-one now questions that the merger has been a success; it is of course normal
however for different points of view to emerge as time goes on, and
discrepancies as well, but all of us who are committed to this task will always
put the interests of the Institution first.'
Botin expressed optimism over the Spanish economy, which despite a slower rhythm
of growth, he said, 'will continue to grow above the European average. We have a
temporary surge in inflation but far less acute than in the past and, in my
opinion, the only way to overcome this is to do more and better than our
European neighbours. We must save, invest more and be more efficient. That's my
recipe,' he said.
Regarding Latin America, he said he recognized that his audience is fully aware
of the region's potential and of the efforts made by the different countries
over the past decade. And he was confident that the recent political agreements
in Argentina, as well as the specific measures adopted by that government, would
overcome the crisis of confidence there.
After referring to the recently announced half-yearly financial results, he said
that the Bank continues to view Latin America as a strategic priority. 'Just as
most of you did many years ago, we are there to work hard. And in the same way
as you in Mexico regard yourselves as Mexican, and in Brazil, Brazilians. We
aren't tourists, we aren't there just for the visit,' he said.
Santander, August 2, 2001
Latest directors dealings
- 48 minutes ago Frasers Group
- 48 minutes ago Cavendish Financial
- 48 minutes ago Diaceutics
- 48 minutes ago AB Dynamics
- 14 hours ago Johnson Matthey