Santander was distinguished as “Bank of the Year” in Portugal by The Banker magazine, of the Financial Times Group, within the scope of The Banker Awards 2021.

“These awards, considered as a reference in excellence, recognize the institution as having the greatest capacity to generate results, obtain strategic advantages and respond in the best way in its markets”, the bank said in a statement.

In reaction to this distinction, Pedro Castro e Almeida, Executive President of Santander in Portugal, said in the statement that “this is an award for excellence and the result of the work carried out by the Bank in Portugal throughout the year. In order to achieve our goals, we rely on the trust of our employees and our customers in our activity”.

Pedro Castro e Almeida explained that “after the delicate period we are living in, the Bank is today a stronger institution, better structured, and has the means of communication to continue to be the reference partner for Portuguese families and companies”.

The Banker magazine said that “despite the challenges (impact of the pandemic on business), the winner of the 2021 award, Santander Portugal, continued to provide support to its customers and the country at large and accelerated its digital processing plans for ensure it is ready to embrace opportunities for the next decade.”

In 2020, Santander Totta achieved a net profit of 295.6 million euros (-43.9%), an expected decrease due to the effects caused by the pandemic. Despite this drop, the net result achieved by Santander was one of the best among other Portuguese banks.