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Santander and Openbank brands will appear prominently at F1 races in the group’s main markets.
Madrid, 4 September 2024.
Banco Santander today announced that it will become the official retail banking partner of Formula 1® in a multi-year deal starting in 2025. The partnership will reinforce the bank’s visibility within its main markets, showcasing the Santander and Openbank brands. Openbank, Europe’s largest 100% digital bank by deposits, will be launched in the US later this year.
The bank’s logos will feature on trackside signage at a number of Grand Prix across the season taking place in Santander’s main markets: in the US, Brazil, México, Spain, and in the UK, among others. The bank will also provide Formula 1 fans with exclusive content and activations throughout the partnership.
Formula 1 is one of the most watched sports in the world, with a cumulative worldwide audience of 1.35 billion in 2023 (Nielsen). Sixty percent of this audience is in Santander’s main markets, with a growing reach in the US and among young people globally. F1 hosts 24 Grand Prix events in 20 different countries, several of which take place in the bank’s largest markets in Europa and the Americas.
We are delighted to announce our new partnership with Formula 1. Over nearly two decades, since Banesto first began working with F1, the power and global reach of the sport has helped Santander engage with customers, deepen relationships, and strengthen our brand. This collaboration will help create value across the group and marks an important new chapter in our relationship, as we continue to transform and grow our business.
I am delighted that Santander, an incredible global brand, will become an Official Partner of Formula 1. Santander has a proud history in our sport, and they know the huge platform we can provide to amplify their story to customers around the globe. I want to thank Ana Botín, Group Executive Chair of Santander, and Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research, and Vice Chair of Santander Spain, for their passion and commitment to this exciting partnership. Our shared focus on innovation and providing a best-in-class service to our customers and fans is key to our partnership and I am looking forward to a very exciting future on and off the track.
Santander has been involved with the F1 for 15 years since 2006, sponsoring both races and teams such as Scuderia Ferrari and McLaren.
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first half of 2024, Banco Santander had €1.3 trillion in total funds, 168 million customers, 8,300 branches and 209,500 employees.
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLVYK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.