Get ready to withdraw your money.

BANCO POPULAR IN SPAIN IS CRASHING.

The share is worth nothing.

Mariano Rajoy is trying to save his bank.

 

Don't know it. I guess Spain does not insure their banks? If not, it sucks to be them.

 

Have to look to the EU Central Bank or Germany for the help.....
unless someone takes them out.....

 

June 10

Banco Popular fails and is bought by Santander
As European bank crises go, this was an orderly one


EVEN a bank failure can be presented as a triumph. This week Banco Popular, a big Spanish lender, endured a run. Depositors were said to be withdrawing €2bn ($2.2bn) a day. The bank lost half its stockmarket value in four days, as a self-imposed deadline to find a saviour loomed. On June 6th, it was declared by the Single Resolution Board (SRB), an independent agency set up by the European Commission in 2015 and charged with winding down banks, to be “failing or likely to fail”. The next morning, Santander, Spain’s biggest bank, announced its purchase for the symbolic sum of €1 ($1.10). It is to raise €7bn in capital to help absorb Popular’s property-related losses.

Spain’s government, the European Commission and Santander all cheered the outcome as a model European response to a bank crisis. Shareholders and junior bondholders in Popular have been wiped out. Spanish ministers pointed out that taxpayers would not have to pay for a rescue of the sort arranged for Bankia, a giant savings bank nearing collapse, when Spain needed a banking bail-out in 2012. Ana Botín, Santander’s boss, declared the deal good for Spain, for Europe, for Popular’s 4.4m customers and for her shareholders. Santander’s market leadership in Spain and Portugal will be strengthened.

 

I have heard of Santander Bank. They are starting to pop up around here. I may be wrong, but it sounds like a small bank in trouble being gobbled up by a bigger bank.

 

An exclusive peek at Santander's new offices in downtown Dallas

As Dallas-based Santander Consumer USA Inc. (NYSE: SC) continues to move employees into its new downtown Dallas corporate headquarters, the auto finance company is hiring hundreds of employees.

"With heightened regulatory scrutiny, we are doing some pretty heavy hiring right now to ramp up compliance and overall governance within the business," Michelle Whatley, Santander's Chief Human Resources Officer told the Dallas Business Journal, which toured the company's new headquarters Wednesday morning.

"We are hiring between 100 to 150 employees a month," she added.

Whatley gave us a tour of Santander's new offices, which will be in 14 floors of Thanksgiving Tower (floors 2-15, although floor 3 still has another tenant occupying the space), which is undergoing a multimillion-dollar renovation. The move is expected to bring at least 1,400 employees into downtown Dallas.

Right now, there are about 1,000 employees working in Santander's Thanksgiving Tower office. Santander has about 4,000 employees throughout different offices in North Texas.


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• Santander (SPA)
• Santander (BRA)
• Santander (UK)
• Santander Totta (PT)
• Santander (MEX)
• Santander (CHI)
• Santander Río (ARG)
• Santander (GER)
• Santander (US)
• Bank Zachodni WBK (POL)
• Openbank (SPA)
• Santander (Peru)
• Santander (PR)
• Santander (URU)

 

Wow. I didn't realize Santander was that big. My company uses them, so that's how I learned about them. I learned something new today. Who says porn sites can't be educational!

 

Santander are a very big player here in the UK and have a disapointing track record with customers and service, that said they are a major force in the financial district ( the City of London, which is not to be confused with the rest of London). Personally I've been a customer with them for years and have mixed feelings about them but then like all banks they are there to make money so there's not much to choose from between any of them.

 

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I worked for a bank for 19 years, and knew this thread was worthless here, although someone said it was educational for him. It looks like it's bottomed out out now. Time to delete the whole thing IMO.