Business
Santander required to conduct annual stress test in the U.S. after acquiring Webster
The bank positions itself as the nineteenth largest in the country following the purchase. The Fed approved the operation after evaluating allegations against it.
Banco Santander, led by Ana Botín, will have to conduct an annual stress test in the United States as a result of its acquisition of Webster Bank. This operation has allowed Santander to rise 12 positions in the ranking of banks by assets in the country, becoming the nineteenth largest bank in this category.
The Federal Reserve (Fed) unanimously approved the purchase of Webster after reviewing four allegations that were presented against the operation. This decision comes at a time when Santander seeks to strengthen its presence in the U.S. market.