Santander from Spain is one of the most valuable banks in the world by market cap. Indeed if it were a US bank it would be the third most valuable bank in America. That is truly remarkable for a Spanish bank. But today I read a piece of news that intrigued me. That in order to get rid of real estate that it got as a result of bad loans it sells apartments at a discounts to its employees and relatives of its employees. Personally I think that having a loan portfolio that is exposed to your own employees is not a great idea. Neither is the concept of favoring your employees over your customers or anyone else for that matter. If I were a shareholder of Santander I would just want Santander to sell its real estate at the best available price in the marketplace.

Follow Martin Varsavsky on Twitter:

No Comments

Gergana Lagro on May 11, 2009  · 

chinaski on May 11, 2009  · 

Dani on May 11, 2009  · 

nemo on May 11, 2009  · 

Alejandro on May 21, 2009  · 

Jaime GM on May 23, 2009  · 

Adan on May 25, 2009  · 

Mercado de divisas on May 26, 2009  · 

Leave a Comment

Español / English

Subscribe to e-mail bulletin:
Recent Tweets