Download - FDCL

The Banco Santander Central Hispano (BSCH) is the third largest private bank in
Brazil, 137 with net profits in 2001 of one billion Reais, 138 it is the largest Spanish bank
and the second largest European bank with a market capitalization of 31.185 billion
Euros (as of December 31, 2002). It has 104,000 employees on a global basis, of
which 56% are employed outside of Spain. 139 In Brazil, contrary to previous accords
with labor unions, one of the first actions of its subsidiary Santander Banespa was
to cut jobs. 140 The BSCH and the Banco Bilbao Vizcaja Argentaria (BBVA) invested
around 25 billion Euros and thereby at the end of the nineties were the largest and
the third largest foreign bank in Latin America respectively, 141 a position which the
BSCH in the meantime has passed to Citigroup, which took over the Mexican BA-
NAMEX for 12.5 billion US-dollars. In 1990 the market share of foreign banks in Argentina
was only 10 percent, in Brazil six percent and in Mexico zero. In 2001 foreign
banks accounted for 61 percent of the market in Argentina, 49 percent in Brazil and
90 percent in Mexico. 142
The Spanish electricity provider Endesa has now accumulated 23 subsidiaries in
Latin America. It is the largest producer and supplier of electricity in the region 143 and
makes 40 percent of its turnover in Latin America. 144
“ENDESA is one of the largest private electrical groups in the world, with a total
installed capacity of 42,000 MW, 133,600 GWh distributed capacity and more
than 20.5 million customers in 12 countries. ENDESA´s strategy is focused on
137 “Em junho de 2001, o Grupo Santander Banespa tinha ativos totais de R$ 62,192 bilhões – é o terceiro maior grupo
financeiro privado no país, por esse critério – e patrimônio líquido de R$ 4,685 bilhões.” Own translation: “In June
of 2001 the Santander Banespa Group had total actives of R$ 62.192 billion – it is the third largest private financial
group in the country in this category – with an equity capital of R$ 4.685 billion.” http://www.banespa.com.br/site/
servicos/institucional/sn_gruposantander_historia.jsp.
138 “Santander/Banespa foi um dos bancos que mais lucraram nos últimos anos. Em 2001, ele teve lucro de R$ 1,089
bilhão; no ano seguinte esse valor subiu para R$ 2,818 bilhões.” Own translation: “Santander/Banespa was one of
the banks that earned the most in the last years. In 2001 its profits amounted to R$ 1,089 billion, in the following
year this number rose to R$ 2,818 billion.” http://www.vermelho.org.br/diario/2003/1029/1029_bancariossp.asp.
139 “El Grupo Santander es la primera entidad financiera de España y la segunda de la Zona Euro, con una capitalización,
al 31 de diciembre de 2002, de 31.185 millones de euros. Cuenta con una plantilla de 104.000 empleados, de los
que el 65% están fuera de España.” Own translation: “The Santander Group is the first financial entity in Spain and
ranks second in the Euro-zone, with a capitalization of 31.185 billion Euros. It has 104,000 employees, of which
65% are outside of Spain.” http://www.gruposantander.com/pagina/indice/0,,412_1_2,00.html.
140 “Depois de lucrar R$ 1,067 bilhão no último semestre, o Santander Banespa dá início em São Paulo a demissões
em massa, apesar dos inúmeros compromissos de que não haveria cortes na instituição” Own translation: “After
having obtained profits of R$ 1.067 billion in the last semester, the Santander Banesapa [Group] initiated massive
layoffs, despite having promissed innumerable times that nobody would be dismissed within the institution.” http:
//www.vermelho.org.br/diario/2003/1025/1025_banespa.asp.
141 Maria Manuel Ramos / José Félix Ribeiro: O Investimento Directo Espanhol: da América Latina para a Europa
Continental, p. 422.
142 CEPAL: La inversión extranjera en América Latina y el Caribe, 2002, Santiago de Chile: March 2003, p. 19.
143 Ibid.
144 Numbers of 1998-1999, ibid., p. 433.
61