Banco Santander Central Hispan (BSHYY.PK)

Banco Santander Central Hispano, S.A. and its subsidiaries offer a range of financial products and services primarily in Spain, the United Kingdom, other European countries, and Latin America. The company operates in three segments: Retail Banking, Global Wholesale Banking, and Asset Management and Insurance. The Retail Banking segment offers a range of deposit products, including savings, current, demand, time, and notice deposits, as well as international and domestic interbank deposits; and loan products and services, such as auto financing, personal loans, mortgages, and leasing and renting. This segment also offers credit cards, automated cash dispensers, savings books updaters, telephone banking, and electronic and Internet banking. The Global Wholesale Banking segment provides corporate banking, treasury, and investment banking services. Its products and services include commercial financing, funds, trade finance, transactional products, custody services, corporate finance, structured finance, and capital structuring. This segment also engages in the treasury activities, as well as in the trading and distribution of equities. The Asset Management and Insurance segment involves in the design and management of mutual and pension funds, and insurance products. The company serves individual clients and small and medium sized companies, as well as private and public institutions. As of December 31, 2006, it had 5,772 branch offices in Continental Europe; 712 branches in the United Kingdom; and 4,368 branches in Latin America. The company was founded in 1857 and is headquartered in Madrid, Spain.

For the nine months ended 30 September 2006, Banco Santander Central Hispano SA's interest income increased 20% to EUR9.14B. Net income from continuing operations increased 27% to EUR4.95B. Net interest income reflects increased customer lending and higher dividend income. Net income also reflects an increase in fees received & equity earnings, higher other operating income and higher gain on financial assets.