China Will Become One of the World's Core Markets
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November 2, Spain, Santander Bank Board of Directors Executive Director and Senior Executive Vice President Juan R. Yinxiyate said that as the largest banking market in Europe, but also Latin America and Spain's largest financial institutions, banks want Santander with the China Construction Bank and other Chinese counterparts, to develop in Asia, especially China market.
The end of the 7 stress testing in European banks, Santander became one of the best performing banks in Europe. Santander is how to resist the crisis?
First of all, business diversification is a fundamental measure to cope with the crisis, always Do not put all your eggs in one basket. Santander will always strive to expand the business scope to ten major world markets and reduce reliance on the Spanish domestic market. Despite the debt crisis, Europe to the European banking industry has brought great risks, but Santander both in Greece and Ireland, countries with high debt exposure is zero. The third quarter of this year, the local market in Spain, Santander profits realized by the Group's overall profit of the period accounted for only 17%.
Secondly, the crisis contains a lot of opportunities. Sangtandeqia in a crisis to explore a number of acquisition opportunities. So far in 2010, the Group completed the Poland, the United Kingdom, the United States and Germany, a number of financial institutions, businesses and assets of the acquisition. The first half of this year, Santander core capital adequacy ratio of 8.6%, far exceeding the requirements of the financial regulatory rules, have been able to meet the "Basel III" the challenge of new regulatory capital.
Santander pace of global expansion has always been stable, but in Asia, especially China's development a bit cautious attitude, then there is how to Santander in China's development strategy?
By 2006, the world's top ten banks have all U.S. and European financial institutions; but in 2007, ICBC has been among the ranks. Post-crisis era, the rise of Asian economies can be regarded as the world economy, "return to normality", of which China has become the world's core markets. Our customers in Latin America and Europe are required to develop business in China; therefore, to maintain its market share, Santander have entered China. In addition, we are equally committed to Europe for Chinese enterprises to invest to provide financial services. Asian Development Santander goal is important in China and other Asian markets, Latin America and Europe with our existing customer base to establish long term relationships.
Santander will take concrete measures to expand business in China?
Santander recently appointed General Manager of Asia Hu Anshengluoman, his office is set in Beijing; one of his main work is to expand the Group's business in China. China Construction Bank is our important partner in China. Earlier this year, Santander reached an agreement with China Construction Bank plans to set up joint ventures in China focus on the development of rural banking. Currently, the project is still subject to regulatory approval.
In addition, the future value of RMB bank Santander huge cross-border business development opportunities. Santander Shanghai Branch is studying the relevant regulatory rules, is expected to launch in one or two years, the RMB-related business. |
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By :
Jessie Stone
Submitted
2010-11-10 22:37:20 |
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