Headline: "Santander to Establish a Fully-Operational Digital Bank in the U.S. by 2025"

Spanish banking giant Santander, traded on the Bolsa de Madrid under the code BME:SAN, is preparing to expand its operations in the United States by establishing a full-service digital bank by the end of 2025. This announcement was made by the bank's chairperson, Ana Botin, at the Institute of International Finance conference in Washington.

Earlier this week, Santander initiated the launch of its digital bank in the U.S., marking a significant step in its strategy to enhance its presence in the American financial market. The digital bank aims to support the financing of over $30 billion in auto loan assets, a key move in expanding Santander's retail business within the country.

Santander's initiative reflects a growing trend among global banks to embrace digital transformation and offer comprehensive online banking services that cater to the evolving needs of customers. Through this digital endeavor, Santander is poised to boost its competitiveness in the U.S. banking sector, following the projected timeline set for 2025.