The Spanish banking group Banco Santander announced on Tuesday that it has reached an agreement to acquire the American bank Webster Bank for 10.3 billion euros, in a move aimed at strengthening its position in the U.S. market.
Described as an unexpected deal, this acquisition represents around 4 percent of the Spanish group’s assets. According to Santander, it will create a stronger and more competitive banking entity to better serve clients, as stated in a press release issued ahead of the publication of its 2025 annual results.
Founded in 1935, Webster Bank provides Santander with the opportunity to significantly expand its size, deposit base, and operational capabilities in the United States. The Spanish group currently employs nearly 200,000 people and serves approximately 180 million clients worldwide.
Santander’s Chairwoman, Ana Botín, called the deal a major and strategic step for the group’s development in the U.S. market. She added that the acquisition will enhance the range of products, strengthen technological capabilities, and open new revenue growth opportunities.
John Ciulla, CEO of Webster Bank, said the acquisition will provide his institution with expanded resources and new opportunities for growth.
The two groups have not yet announced a precise timeline for completing the deal. In the meantime, Santander and Webster Bank will continue to operate independently, with no changes for clients regarding accounts, branch access, or regular services.
