As one of the largest banking organizations in the US, Sovereign Bank can be found throughout the US. The following page discusses Sovereign Bank and introduces some of its history as well as some of the services it supplies to the US consumer banking market.
Sovereign Bank Background
Sovereign Bank is considered as one of the largest banking institutions in the Northeastern United States: Sovereign Bank is now a member of the Santander Group. Sovereign is internationally known because it has branched out into over 40 countries and serves over 80 million customers. During the year 2008, the Sovereign Bank’s parent, Santander, was proclaimed and awarded as the best bank in the world for that particular year.
Sovereign Bank Services
When speaking of the different services offered by Sovereign, there are many that one can avail. Some of the broad number of financial services of the Sovereign Bank are business, retail and corporate banking. Sovereign Bank also offers insurance, cash management, capital markets and private wealth management.
There is also another service offered by Sovereign known as the Sovereign’s Online Banking with Bill Pay. This is considered as the most convenient ways of managing your money because it is done online… and since you can do it online, you can do it at your convenience.
The sovereign Bank was founded in 1902 when it was established as a building and loan association during that year: it has helped many Pennsylvanians textile workers to become homeowners.
Sovereign Bank has done successful business in New England in 2000 and in the New York Area in 2006. The expansion in New England alone include approximately $12 billion in deposits, $8.1 Billion in loans, 281 bank branches, 550 Automated Tellering Machines (ATM): generally, this was the biggest branch acquisition in banking history. Currently, Sovereign Bank offers over 750 branches and 2,300 ATMs from Maryland to Maine.
In 2005, Santander and Sovereign Bank established a partnership together. However, Sovereign fully joined the Santander Group on January 30, 2009. Santander was first founded in 1857 and exudes a very successful history in commercial banking and retail to the extent that it has grown to be one of the 5 largest banks in the world in terms of profits.
Sovereign Bank And Santander
In joining the Santander Group, Sovereign Bank is poised to offer services to many more customers. There is also potential for more innovative products are also, which may be beneficial to Sovereign’s customers. This means that not only is the bank itself improving but also the products and services offered.
Sovereign Bank customers may also continue to count on the bank’s services: Sovereign Bank often say “Our Future is Bright”.