09/10/2020 | Press release | Distributed by Public on 09/10/2020 05:21
Best Bank for SMEs
The impact of Covid-19 has had a significant influence on the 2020 edition of Euromoney awards. Since the start of the crisis, Santander has helped more than six million customers through different initiatives such as payment deferrals in mortgages and loans for individuals and companies all around the world, accounting for 16% of our total portfolio. In all our markets the Group is providing significant financial support to SMEs and corporates affected by the covid-19 pandemic, extending an average of more than €1.6 billion every day in new lending to our customers, most of it SME's, in April, May and June.
The bank has also implemented a number of initiatives this year to improve its products and services to SMEs, including new digital platforms to help companies strengthen their digital capabilities as they expand internationally (Ebury, Mercury TFS, We.Trade…) or a fully digital invoice financing service for SMEs in Spain (Financia&Go).
In awarding Santander the best bank for SMEs, Euromoney highlighted 'Covid-19 has given the Spanish bank an opportunity to demonstrate the advantages of a global SME franchise, even for clients without international operations'.
Ana Botin said: 'It has been an extremely challenging year and our teams have worked tirelessly to support our customers through the pandemic. To be recognised as the best bank globally for SMEs is a real testament to their efforts.'
In July, Euromoney praised Santander response to the covid-19 crisis in Europe (Western, and Central & Eastern Europe) with an 'Excellence in Leadership' award in its regional edition. Furthermore, the magazine acknowledged Santander as Best Bank for SMEs in Western Europe and Latin America, Best Bank in Spain and Portugal, and Best Investment Bank in Portugal.
Euromoney magazine has been a leading publication in international finance for 50 years. Euromoney's Awards for Excellence were established in 1992 and are the global benchmark for the banking industry.