| Banco Santander SA. (the Bank) is a financial group that offers a range of financial products. At the primary level, the Bank's operating units are segmented by geographical areas, such as Continental Europe, United Kingdom and Latin America. The primary level of segmentation includes the Financial Management and Equity Stakes segment. The Continental Europe segment covers all retail banking (including Banif, the specialized private bank), wholesale banking and asset management, and insurance conducted in Europe, with the exception of the operations of the Bank's subsidiary, Abbey National plc (Abbey). The United Kingdom (Abbey) segment includes the operations of Abbey, which focuses on retail banking in the United Kingdom. The Latin America segment includes the financial activities conducted via the Bank's subsidiaries. In May 2008, it sold Antonveneta to Banca Monte dei Paschi di Siena. On October 14, 2008, the Company bought the remaining 75.65% it did not own in Sovereign Bancorp. |
