MADRID Oct 18 Spain's Santander is
aiming to double profits from its U.S. banking business in the
next three years from $1 billion now, Chairman Emilio Botin said
on a visit to New York, in comments confirmed by the bank on
"The target is to double that profit in three years to $2
billion, through organic growth," Botin said on Thursday on the
U.S. trip, where he launched the rebranding of the business from
Sovereign Bank to Santander.
Botin said that Santander's U.S. bank, which operates in the
north-east of the country, was also aiming to reach a 10 percent
market share from 3 percent now. He conceded this could be
difficult to reach with organic growth, however.
Botin also said that Santander was still planning to go
ahead with a listing of its UK business. This had at one stage
been pencilled in for 2014 or 2015, but in July the bank said it
was not on the table in the medium-term.
"We will float (it) at the appropriate moment," Botin said.
"I don't know if it could be 2015 or 2016."