Banco Santander Argentina
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | May 14, 1968 |
| Headquarters | Buenos Aires , Argentina |
Area served | Argentina |
| Products | Retail banking, debit and credit cards, consumer and commercial lending, mortgage financing, fixed-term deposits, money transfer services, cash management, insurance, brokerage |
| Owner | Santander Group (via ABLASA) |
Number of employees | 8500+ |
| Parent | Santander Group |
| Website | www |
Banco Santander Argentina—previously known as Banco Río de la Plata and later Banco Santander Río—is a financial institution providing commercial banking services. It operates as a subsidiary of the Spain-based Santander Group and is headquartered in Buenos Aires. It holds the position of the third largest bank in Argentina and is the foremost private-sector bank in the country.
The institution manages a network of 430 branches, caters to a client base of approximately 3.5 million individuals, and employs more than 8,500 personnel.
Overview
Established on May 14, 1968, Banco Río de la Plata originated from Pecom’s acquisition of Banco del Este. Initially, it was associated with the Pérez Companc family, a significant force in Argentine business circles since the mid-1900s. In 1993, Gregorio Pérez Companc purchased the bank from his family’s foundation.
During the privatization initiatives under President Carlos Menem, Banco Río played a financial role in Pérez Companc’s acquisitions across various industries such as telecommunications (Telecom Argentina), freight railroads (Ferroexpreso Pampeano), electricity transmission (Transener), and gas distribution (TGS). In May 1997, Pérez Companc sold a majority stake of 35%—with an option to increase by another 15%—to Grupo Santander for US$1.1 billion. This transaction prompted the bank's rebranding to Banco Río and its subsequent public listing on the Buenos Aires Stock Exchange. During this collaboration, Banco Tornquist was acquired by the bank. By 2001, Pérez Companc exited his remaining 18.5% shareholding by selling it to Merrill Lynch, which eventually transferred ownership to Santander.
The majority ownership of Santander Argentina resides with Santander Group through its holding entity ABLASA, which controls 79% of equity and holds 99.3% of voting shares. The bank offers a comprehensive range of products including retail banking services, debit and credit card issuance, consumer and commercial lending, mortgage financing, fixed-term deposit accounts, money transfer solutions, cash management services, and tailored offerings for both individual clients and small-to-medium enterprises (SMEs). Its subsidiaries encompass Santander Seguros (insurance) and Santander Sociedad de Bolsa (brokerage). Additionally, it maintains controlling stakes in Visa Argentina, Gire (money transfer services), Banelco (ATM network), and Interbanking (offshore banking operations).
Santander Argentina manages deposits totaling close to US$7.7 billion—representing about 7% of the market—and maintains a loan portfolio approximating US$6.4 billion or roughly 8% market share. The bank issues around 3.5 million credit cards, capturing a 13% share of this market segment and ranking second after Galicia Financial Group. Its operational footprint includes 330 branches nationwide supported by more than 2,000 Banelco ATMs—the largest ATM network across Argentina—and employs over 6,000 staff members.