Last update: 03/06/2020

We are a responsible bank and our priority is to protect the health of our employees, customers and shareholders, while also contributing to the protection of society as a whole. This is particularly important today with the coronavirus (COVID-19) pandemic facing the world. We have put in place contingency plans in the geographies in which we operate to contribute to the public well-being.
 

For weeks we have been monitoring the situation and have activated all of the protocols and actions necessary to mitigate the effects of the virus and its spread.  In addition, we have ensured that our key suppliers have contingency plans that certify the continuity of our activity in order to ensure the proper functioning of our services for our customers.  We have also published various information in our internal and external communications channels to keep our people, clients, shareholders and investors informed at all times. 

In parallel, we have implemented specific measures for each of our stakeholders depending on the country in which they are located. These are plans to help protect our employees, customers, shareholders and investors from the coronavirus and to mitigate its economic impact. 
 

Main announced measures

Common set of measures in most or all markets

• Specific credit lines for SMEs and corporates. Santander is supporting SMEs and corporates with an average of more than €1 billion every day in new lending in April and May.
• Payment deferrals for individuals (mortages, consumer loans) and companies.
• Option of increase in credit card and overdraft limits.
• Santander is mobilising €100 million worldwide to fund initiatives to combat the coronavirus. The funds are being used throughout Santander’s home markets to buy medical equipment and support research into the virus through collaboration with universities and other bodies. This is partly funded with top management and board pay cut, and other donations in the different markets to provide medical equipment.
• Covid-19 insurance coverage.
• Fewer fees.
• Proactive support for vulnerable customers and specific helpline for all customers.
• Advance payments of pensions to retirees.
• Employment stability.
• Timely payments to suppliers.
• Resource center: “Overcome Together” website.
• Online #StayHome scholarships for over 20,000 university students and lecturers.
• Banco Santander, through Santander Universities, is launching the global Santander X Tomorrow Challenge so that entrepreneurs from Europe and the Americas can provide innovative solutions to help mitigate the socioeconomic aftermath of the pandemic. 
• Following the European Central Bank recommendations, Santander has cancelled its 2019 final dividend and its 2020 dividend policy to ensure as much flexibility as possible to allow it to maximize lending and support businesses and individuals. This represents 90 billion euros of additional available loans.
  

Key measures by market

Spain

• Up to 12 months mortgage repayment holiday and up to 6 months for personal loans.
• Billion euros of credit to support impacted companies. Active participation in the Government's guarantee program.
• Deferral for the rental of bank-owned property and Social Fund and Social Rentals.
• Advance state payments for people under temporary employment regulation.
• During the most intense period of the confinement, it was free to withdraw money from any ATM in the country. We also made it possible for customers to use QR codes to withdraw money without touching the keyboard.
• Help contractors to maintain employment, covering the cost of wages for the most vulnerable providers.
• Santander donated €4 million to the Madrid regional government to set up 2,000 new beds and buy ventilators and masks.
• The Openbank team has donated €100,000 to purchase equipment to fight the virus.
• Santander Asset Management has donated up to €250,000 for health equipment.
• Santander mobilises €20 million to fight the virus with Universities and CSIC.
  

United Kingdom

• Repayment holidays on mortgages for up to three months. 
• Supporting savings customers with penalty free access to fixed rate products.
• Santander contributes £4.5million to support university initiatives.
• Supporting with guaranteed business loans and overdraft flexibility.
• Automatic £500 interest waiver for all customers with arranged overdrafts.
• Payment holidays on personal loans and credit cards.
• Santander Foundation donates £1million to Age UK and Alzheimer's Society.
• Santander launched PagoFX in the UK to offer fast, secure and low-cost international transfers with a no-fee programme for several months.
  

Portugal

• Repayment holidays on loans and mortgages for up to six months. Or one year for SMEs.
• €4bn liquidity facility for SMEs.
• Santander Portugal is the bank which has helped more companies on the covid-19 line (36%). 
• Several fees suspended to merchants and individuals.
• Free medical services to customers.
• To help the companies, the bank is paying immediately to suppliers.
• Donation of €600,000 for health equipment to respond to the urgent needs of hospitals.
• Together with Universities and Polytechnics, Santander will support students and households with more than €1.5 million to combat the effects of covid-19.
  

Poland

• Repayment holidays on loans and mortgages of 3-6 months for individuals and SMEs. Offering business clients guaranteed loans. PLN 13 billion (c.€2.9 billion) of additional financing for medium and large companies at secured by the BGK guarantee.
• Launch of app for financial aid under the Financial Shield of Polish Development Fund. 
• No commissions for withdrawing from ATMs of other banks and cash-back.
• The bank waives some of the credit fees for SMEs.
• Free e-book about financial education for children to support parents who have stayed at home.
• The bank donated PLN 2 million (c.€450,000) for medical equipment in hospitals.
  

Santander Consumer Finance

• Santander Consumer (SCB) in Germany will offer car dealers a repayment suspension of 90 days in the stock financing. Leased vehicles can be driven three months longer.
• In Germany, customers of consumer loans are entitled to a deferral of instalments from April to June if there is a loss of income due to the virus and livelihood is endangered as a result. 
• SCB Germany supports with €30,000 the Goethe Corona Fund, established by the Goethe University Frankfurt and the University Hospital Frankfurt for research and patient care.
• Santander Consumer Bank Poland suspends loan repayments for three months.
• Santander Consumer Bank Austria supports local webshop operators with the 0% online partial payment.
• Santander Consumer Spain offers payment holidays for mortgage and with the possibility of a grace period of up to 6 months. For dealers, all debt maturities have been reviewed and solutions have been found to defer payments for several months.
• Santander Consumer Spain has donated 250 radios in hospitals.
• PSA Financial in Spain is offering individualized solutions to cover the needs of its clients.
  

United States

• Santander Consumer USA (SCUSA) is expanding payment deferrals, waiving late charges and easing extensions for lessees unable to return their vehicles.
• $25 million in loans to Community Development Financial Institutions (CDFIs) for small business loans.
• The retail network is offering temporary payment suspension, and refunding some fees, and suspending mortgage and home equity line of credit foreclosures.
• Additional paid leave to employees of up to 80 hours if they are unable to work. $250 a week in pay premiums for branch and other frontline workers to help with commuting.
  

Mexico

• Repayment holidays on loans, credit card and mortgages for up to four months.
• Three-month interest free on purchases made in online supermarkets and 5-10-month interest-free on purchases in pharmacies, laboratories or hospitals.
• Santander Mexico is committed to channeling Federal Government loans for small businesses using the experience of the Tuiio inclusion program.
• Branch services maintained with minimum staffing (maximum of 10 people in office).
• Scholarships for teachers and young people within the #StayHome program.
• Santander Mexico and BBVA Mexico provide Mexico City government with digital platform to fight covid-19.
  

Brazil

• 60 day extension on loan maturities to enable payment holidays.
• Santander exempts individual micro-entrepreneurs from paying a two-month bank fee.
• Offering a line of credit to companies, specially SMEs, with a three-month moratorium.
• 10% credit card limit extension.
• Discounts of 12% for all purchases made online with Santander cards in pharmacies of the Esfera loyalty program.
• Reduction in opening hours to ensure branch services remain available. Some closures.
• Branches with largest flows of retired and pensioner clients will have exclusive opening hours for the elderly population, from 9am to 10am.
• Three main private banks (Itaú, Bradesco and Santander) join forces to combat the virus by providing five million rapid tests along with respirators and other equipment. 
• Salary advance to employees. 
  

Argentina

• 1 billion peso (c.€14 million) loan facility from mico, small and medium sized businesses to enable remote working.
• Santander launched the White Account, a value proposition with additional benefits for healthcare professionals.
• Santander Argentina has already granted loans to SMEs and hospitals for $12 billion (c.€160 million) to pay 200,000 salaries.
• Donation of 80 million pesos (€1,1 million) to different organizations and initiatives, with the aim of contributing to the fight against the virus.
  

Chile

• US$6 billion (c.€5.4 billion) pre-approved lending available for consumer, mortgage, SME and business customers.
• From April, customers can reload credits up to date (three months grace period) and are able to defer up to three payments of their mortgages.  
• Santander Chile joins the Emergency Fund, created to reach at least $34,000 million (c.€37 million) to $50,000 million (c.€54 million).
• Donation of 1.2 billion pesos (c.€1.30 million) in Teletón 2020.
  

Uruguay

• Deferment of credit cards and loans payments for 60-90 days, or even more, to individuals and companies.
• Santander Uruguay opens zero-rate credit lines for mutual healthcare providers and creates a fund to mitigate the impact of covid-19.
• A significant number of employees are working remotely.