Santander BanCorp
Santander BanCorp achieved extraordinary results in 2004, with a 114% net profit growth year-on-year and significant increases in both assets values and ROE, and a halved NPL ratio. With the new management team put in place at the end of 2002, Santander has gained momentum and built on the regained profitability achieved in 2003.
“It is with great satisfaction that we accept The Banker magazine’s recognition as Bank of the Year for 2005 for Puerto Rico, reaffirming Banco Santander Puerto Rico as the premier financial institution in Puerto Rico,” says Jose R Gonzalez, president and CEO of the bank. “This award has given us the opportunity to highlight our commitment to clients and to delivering excellence in our services.
“Banco Santander Puerto Rico is devoted to providing diversified financial services that focus on our clients’ needs. Focusing on clients rather than on products, the bank’s efforts have also resulted in strong performance. The selection of the bank as a recipient of this prestigious award for a second year acknowledges the strong commitment to our clients and to our shareholders, and the successful consolidation of our organisation in the Puerto Rico market.”
