Banco Santander (Brasil) S.A. (Santander Brasil) provides commercial banking products and services to individuals, small and medium enterprises (SMEs), and large corporate customers in Brazil.
Segments
The company operates through two segments, Commercial Banking and Global Wholesale Banking.
Commercial Banking segment
Commercial Banking: provides services and products to individuals and companies (excluding global corporate customers, who are managed by its Global Wholesale Banking division...
Banco Santander (Brasil) S.A. (Santander Brasil) provides commercial banking products and services to individuals, small and medium enterprises (SMEs), and large corporate customers in Brazil.
Segments
The company operates through two segments, Commercial Banking and Global Wholesale Banking.
Commercial Banking segment
Commercial Banking: provides services and products to individuals and companies (excluding global corporate customers, who are managed by its Global Wholesale Banking division). The revenue generated from this segment is derived from the banking and financial products and services offered to both account holders and non-account holders.
Retail – Individuals
The company structured the individual customer service segment as follows:
Private banking provides a comprehensive and customized range of financial products and services, including investment advisory services, loans, and asset management, delivered by a dedicated investment and banking services manager.
Santander Select – customers with a monthly income starting from R$15,000, or at least R$100,000 in investments, or customers who choose to pay for this service category, regardless of their income or amount of investments.
Santander Especial – customers with a monthly income of up to R$3,999. Santander Especial offers simple and efficient solutions with a suitable cost-benefit ratio for its customers, primarily through digital channels.
On January 13, 2025, the company announced that the Santander Van Gogh segment would be discontinued. With this change, Santander Especial will comprise customers with a monthly income of up to R$6,999, and customers with higher monthly income will be allocated in the Santander Select segment.
Santander Free
In 2024, the company introduced its Santander Free offering, which focuses on low-income customers.
Retail – Small and Medium-Sized Enterprises (SMEs)
As of December 31, 2024, the company served SMEs using the following customer service segmentation model:
Companies 3 (Empresas 3) – responsible for companies with annual revenues between R$30 million and R$200 million. The company’s service model is based on dedicated relationship managers, a team of specialists for more complex demands, and credit managers specializing in risk management. The company also provides customized services to multinational technology companies and other large corporations to meet their specific needs.
Companies 2 (Empresas 2) – responsible for companies with annual revenues ranging from R$3 million to R$30 million. The company provides these clients with a wide array of products and services, supported by dedicated specialists in specialized hubs.
Companies 1 (Empresas 1) – responsible for companies with annual revenues of up to R$3 million. The company offers these customers a streamlined banking solution through an integrated account that combines a business account with a point-of-sale, or POS terminal hosted by its former subsidiary and current affiliate Getnet. Through this arrangement, the company's customers receive benefits for utilizing the Getnet platform to handle their credit card sales, with their proceeds being directly deposited into a Santander Brasil checking account.
Empresas Mei – responsible for companies with an annual revenue of up to R$97,000 and registered as an Individual Microentrepreneur (microempreendedor individual), or MEI, with the Brazilian Federal Revenue Service (Receita Federal do Brasil). The company offers these customers a streamlined and cost-effective solution through its Santander MEI account, a remote service, as well as digital solutions such as customer support via a virtual assistant.
In January 2025, the company announced a review in its SME segmentation. Companies 1 (Empresas 1) now comprises companies with annual revenues between R$300,000 and R$3 million. Additionally, the Empresas Mei segment was replaced with the Digital Companies segment, responsible for companies with a single owner, generating annual revenues of up to R$300,000 and registered as MEIs with the Brazilian Federal Revenue Service. The company offers these clients a simplified and cost-effective solution through remote and digital solutions, including customer support via virtual and human assistants. Furthermore, the company provides a digital solution for initiating relationships, including the opening of a checking account and acquisition of other financial products, with a streamlined and swift journey, which it believes provides the best experience for customers.
Consumer Finance
The company provides consumer loans for financing vehicles, goods, and services, directly or through intermediary agencies, dealers, and partners. Santander Financiamentos is the company's primary service channel, and it also operates under other brands, such as SIM and associated companies.
Corporate
The product offering ranges from simple cash accounts to mergers and acquisitions advisory services. The company serves companies with annual gross revenues in excess of R$200 million located across Brazil through physical and digital channels. The company's corporate business has been constantly evolving as a business line, relying on a disciplined analytical toolkit, consistent communication, and workforce upskilling.
Global Wholesale Banking segment
Santander Corporate & Investment Banking, or SCIB, is the global business unit that serves customers who, due to their size and complexity, require tailored services or high-value-added wholesale products. In this segment, the company provides a wide range of domestic and international financial services to large Brazilian and multinational companies. The company's customer portfolio comprises a range of industries, including telecommunications, retail, aviation, real estate and logistics, power, construction and infrastructure, natural resources, food, agribusiness, and financial institutions. Customers in the SCIB segment benefit from the Santander Group’s global structure of services, which is supported by its worldwide-integrated wholesale banking network and global services solutions, as well as local market expertise and integrated services.
Portfolio of Products and Services
Payments
Cards
The company operates in the credit and debit card market, catering to both account holders and non-account holders. Most of the company's customers consist of individuals to whom it offers a range of cards to address each customer profile.
In 2024, the company launched its Santander Free offering, featuring a free account and card aimed at attracting new customers, particularly among young people. The company also introduced Select Global, its international account, which is already fully integrated with the rest of its digital offering to improve customers’ experience in international purchases.
The company has also developed a sales channel using its partners’ portal to drive sales and has sought to continue offering new credit products to foster customer loyalty.
Furthermore, to attract new customers and boost the frequency of service usage, the company rolled out promotions with offerings, such as two editions of the Bateu Ganhou campaign, which set monthly spending goals for customers and rewarded them with points or cash back, and the Santander Super Black campaign, which encouraged card usage for shopping during the month of November 2024.
Accordingly, in mid-2024, the company launched Click to Pay, a tokenized digital payment solution designed to improve the online shopping experience by eliminating the need to type in data, thereby providing a simpler, faster, and more secure experience than the traditional online shopping model. The company also invested in enhancements to the online shopping experience for customers who prefer to use the debit function of their card.
In the SMEs segment, the company offers customers the option to apply for a card through its app and continues to enhance its digital platform to enable businesses to autonomously manage their credit lines and contracts, and the possibility of issuing a physical card at the time of registration at its stores. The company also has an offering in partnership with Sem Parar, an automatic vehicle identification system used for seamless payments at tolls, parking lots, gas stations, drive-throughs, and car washes, for its individual microentrepreneur customers, which it plans to expand to other customers.
Santander Way
Santander Way is an app designed for the company’s cardholders, allowing them to manage their Santander Brasil cards effortlessly, at any time and from anywhere. This comprehensive card management tool features numerous functionalities, such as the ability to make payments, add cards to digital wallets, and participate in promotional campaigns, among others. The company is committed to regularly updating the app with new functionalities to further enrich the user experience.
Esfera
The company continues to offer its loyalty program, Esfera, which creates avenues to expand into new markets and leverage cross-selling within its ecosystem.
Payroll Loans
The company provides payroll loans to both account holders and non-account holders. Loan repayments are automatically deducted from customers’ monthly salaries by their employers and then transferred to Santander Brasil, significantly lowering the company's credit risk in comparison to other types of loans. Payroll loans are accessible to customers through the company's digital platforms and physical branches. Customers can refinance their payroll loans, as well as choose from other options to help them manage their debts.
Real Estate Loans
The company offers long-term financing to its customers for the purchase of real estate, with the property itself serving as collateral for the loan. For this reason, a real estate loan is a strategic product due to its lower risk and potential for increasing customer loyalty.
The company provides real estate financing that adheres to regulatory standards for prime loans for this type of lending. This means: capping the financing at a maximum of 80% of the property’s purchase price; requiring customers to have a minimum monthly income, verified by recent pay stubs and tax documents that confirm their employment status or other income sources, enabling the company to assess their creditworthiness; and ensuring that any additional debt combined with the financing does not surpass 35% of the customer’s gross monthly income.
To streamline the property financing process for its customers, the company has created an innovative digital platform, including digital signatures and electronic registration, ensuring a digital journey and structured data transmission directly to the property registry office.
Home Equity
The company offers a home equity financing solution named UseCasa for individuals and UseImóvel for businesses, where customers can secure a loan by using their property as collateral. The company is the market leader among private-sector banks in Brazil for this type of financing, holding a portfolio market share of 18% as of December 31, 2024, according to ABECIP.
Microfinance
Prospera Santander Microfinanças, the company's microfinance program, aims to foster financial inclusion by providing access to credit and financial guidance to low-income micro and small entrepreneurs. The microcredit offer is made by the company's local specialists through a fully digitized process, empowering microfinance loan recipients to expand their businesses. In addition to microcredit, the company offers access to checking accounts and other banking services, products, and financial education. The company hopes to positively impact the social and economic development of the local communities in which it operates.
Consortiums (Consórcios)
Consortiums operate on a collaborative financing model, where a group of individuals and/or companies come together to purchase a specific asset in an egalitarian and self-funded manner. Contributions are pooled into a common fund, which is dedicated to acquiring the asset agreed upon at the start. Throughout the duration of the agreement, members of the consortium group receive the asset through lotteries and competitive bidding. Typically, consortium groups are formed for the purchase of durable goods, such as real estate and vehicles.
The company provides a consortium offering for its customers aligned with the prevailing interest rate and credit conditions in the market. In 2024, the company broadened the distribution of the product through its AAA Patrimonial channel and external partners, through which it sought to establish partnerships with the goal of further expanding its product portfolio.
Agribusiness
After an extended growth cycle in the sector, the 2023/2024 crop year has proven to be challenging, especially for grain producers, such as soybeans and corn. Climate events affected crops and hindered production, leading to a smaller harvest in Brazil. In contrast to what happened with the Brazilian harvest, other grain-producing countries, such as Argentina, achieved record productivity in the same harvest. This had the effect of increasing global supply significantly and caused prices to drop considerably compared to the previous harvest. The company understands that this low-price environment will persist for at least another crop year. In these circumstances, it has sought to be close to its customers and assist them in seeking the best solutions for their businesses.
The company maintains a commercial structure focused on assisting the agribusiness sector, featuring a sector-dedicated team that operates across Brazil, offering solutions that span from basic banking services to products tailored to the agribusiness sector.
Sim
Sim is part of the company’s consumer finance offering. Its operations consist of: goods and services financing, which offers installment plans, and consumer financing options under the buy now, pay later model; and sim.com, a digital platform for secured personal loans.
emDia
emDia is a 24/7 omnichannel collection company offering its customers both call center and digital solutions. The company has been investing in the use of technology, focusing on hyper-personalization and a multichannel journey.
Return Capital
Return Capital specializes in managing and securitizing nonperforming assets. The company actively seeks cross-selling opportunities within its ecosystem, leveraging the flow of customers and the extensive reach of its business.
Insurance Ecosystem
The company offers its insurance products through Santander Corretora de Seguros, helpS, Auto Compara, and Santander Auto S.A., or Santander Auto.
Santander Corretora de Seguros
Santander Corretora de Seguros provides a diverse range of products designed to meet the needs of every customer profile. The company offers a comprehensive portfolio of insurance and protection services, delivering all-encompassing solutions. Its portfolio includes life and personal accident insurance, vehicle and property coverage, credit insurance, as well as insurance for travel and banking transactions, among other products.
The company is continually refining its insurance solutions to address the evolving needs of its customers, striving to deliver an enhanced experience from the first purchase to the policy renewal.
helpS
helpS is the company's assistance and convenience services business, providing 24/7 emergency solutions for homes, cars, motorcycles, and pets. It also provides access to a 24/7 telemedicine platform, a network of discounts on consultations, exams, and pharmacies, bodywork and painting repairs, and streaming services. The benefits are linked to the individual’s taxpayer ID, rather than to a specific asset, thus allowing customers to request assistance whenever, wherever, and for however long they want. Through Santander+ Combos, customers can create a basket of services of their choice for a fixed monthly fee, which is designed to be lower than the cost of these same services when purchased separately.
Consumer Finance
+Negócios | Santander Financiamentos
The company’s +Negócios platform enables credit simulations, processes credit approvals, and formalizes vehicle financing proposals, while also providing portfolio management reports.
Additionally, the company offers the +Fidelidade program, a loyalty-building initiative aimed at providing incentives to banking correspondents based on their engagement with the entire Santander Brasil ecosystem. The company centralizes its business strategy in the program by implementing a loyalty journey for dealers and sellers.
Webmotors
Webmotors is a Brazilian technology company that operates an online marketplace specializing in car buying and selling solutions for dealerships, original equipment manufacturers, or OEMs, and private sellers. Moreover, it is the largest automotive ecosystem platform in Brazil, according to IPSOS Branding Tracking 2023.
Companies
Santander Corporate & Investment Banking (SCIB)
The company offers its customers a full range of services and products. Thus, its portfolio includes offerings that range from basic to tailor-made and highly complex solutions across the following areas:
Global Transaction Banking – responsible for the sale and management of local transactional banking products, including local loans, commercial financing options, funds from development banks, and cash management. This area is also responsible for the sale of global transactional products, financing for export and import (trade finance), guarantees, structuring of assets in foreign currency, in addition to raising funds from international banks.
Global Debt Financing – responsible for providing funds and financial advisory services for infrastructure projects, origination, and distribution of fixed income instruments in capital markets (local and international debt capital markets), financing for acquisitions, and syndicated loans in both local and foreign currency.
Investment Banking – provides advisory services for mergers and acquisitions, as well as for equity transactions in capital markets.
Equities – this division provides brokerage services for corporate, institutional, and individual investors in stocks and listed derivatives, in addition to offering research services.
Treasury Customers (Sales) – responsible for structuring and offering foreign exchange products, derivatives, and investments to customers across its various segments, including institutional investors, corporate customers, and individuals.
Market Making – responsible for pricing operations (foreign exchange and derivatives) for customers originated from the sales efforts of the company’s corporate, institutional, private banking, and retail units. This area is also responsible for managing its proprietary books.
Energy Trading – performs transactions with both qualified and end customers, in addition to acting as a hedge and market-making provider in energy markets.
Cash Management
The company provides online cash management solutions for corporate customers and SMEs through its internet banking and mobile banking platforms.
The company's cash management service revenue streams encompass fees for providing the following offerings: collections, where it assists customers in executing business transactions via printed or electronic payment slips; payments, facilitating the straightforward and automated handling of customers’ accounts payable through individual transactions or batch processing via electronic file transfers; instant payments, enabling customers to make and receive online payments with immediate account crediting or debiting (this service can be integrated with the company's collections, payments, or product acquisition offerings); payroll services, designed to streamline the distribution of wages and benefits to customers’ employees using an online platform; and custody services, through which the company provides the custody, management, and deposit of predated checks until their respective clearing dates.
Moreover, the company provides a variety of other revenue-generating products, each customized to suit its customers’ specific operational needs.
Advance Program (Programa Avançar)
In addition to its financial services offering, the company also has the Advance Program (Programa Avançar), a free of charge, non-financial offering that caters to entrepreneurs, whether they are customers of Santander Brasil or not. This initiative, which the company launched in 2015, allows SMEs to access a wealth of resources to support their business, including educational content, courses with certificates, and events designed to enhance management and innovation, facilitate internationalization, and foster team development.
Customer Funding
The company's main sources of liquidity are customer funding through deposits and other bank funding instruments. These deposits, combined with equity and other instruments, enable the company to meet most of its liquidity and legal reserve requirements.
Customer Service Channels
The company offers its financial services and products to customers through a multichannel distribution network, which includes physical channels, such as branches, mini branches, and ATMs; remote channels, such as call centers; external channels, consisting of banking correspondents and third-party vendors of its products and services; and digital channels, including online banking and mobile banking platforms.
Digital Channels
In 2024, the company introduced a new work model featuring multidisciplinary teams focused on consistently meeting customer needs.
Remote Channel
The company's remote channel consists of voice customer services and sales, interactive voice response, or IVR, and a chatbot with the option for human interaction in the chat. In 2024, the company continued to focus on providing a unique experience for its customers by offering personalized services.
External Channel
The company's external channel consists of sales representatives and banking correspondents who distribute its products and services alongside its other channels. This channel focuses on the origination of four main products: payroll loans, consortiums (consórcios), credit insurance, and integrated accounts.
Physical Network
The company’s distribution network provides integrated financial services and products to its customers.
Branch Network
The company’s branch network delivers its full range of products and services to customers.
Mini branches (PABs)
The company provides everyday banking services to its SME customers, as well as to corporate customers and their employees, through its mini branches (PABs). These exclusive service locations are strategically placed within customers’ buildings, including hospitals and universities. The presence of PABs at customers’ facilities bolsters the company's relationships and fosters loyalty, as customers benefit from the convenience of conducting banking transactions on-site at their workplaces.
Automated teller machines (ATMs)
As of December 31, 2024, the company operated a network of ATMs, including those located in its branches and mini branches. Furthermore, its clients have access to the Banco24Horas network, which, as of December 31, 2024, consisted of self-service terminals. Through this network, customers can access their accounts, conduct banking transactions, and purchase most of the products and services available in the company's portfolio.
Communications and Marketing
The company uses a variety of tools to communicate effectively with its employees and customers. This includes not only traditional media, such as television, newspapers, and print magazines, but also digital and innovative communication to make a difference in the lives of all those who are related, in some way, to Santander Brasil.
In 2024, the company launched its new brand positioning, which it calls It Starts Here. Under this new positioning, it rolled out three key campaigns. First, the company introduced Santander Free, a fully digital platform offered at no charge to serve its customers. Second, it launched a campaign focused on the Santander Select brand, aiming to position itself as the leading premium financial services platform in Brazil. Third, it launched a campaign targeting its corporate customer segment, showcasing its commitment to Brazilian companies and entrepreneurs.
Patents, Licenses, Contracts and Processes
The major trademarks the company uses, including, among others, the Santander trademark, are owned by Santander Investment Bank. Santander Brasil has a license to use this trademark. All trademarks of the company's business are registered or applied through the Brazilian Patent and Trademark Office (Instituto Nacional de Propriedade Industrial, or INPI), the agency responsible for registering trademarks, patents, and designs in Brazil. After registration, the owner has exclusive rights to use the trademark in Brazil for a 10-year period that can be successively renewed for equal periods.
As of December 31, 2024, the company owned or had a license to use a total of 454 trademarks in Brazil, with Santander Brasil owning over 87 of these trademarks, while the remaining are owned by other companies of the Santander Group.
Regulation
The company, as a foreign private issuer whose securities are registered under the Securities Exchange Act of 1934 (the Exchange Act), is subject to the U.S. Foreign Corrupt Practices Act (FCPA).
The company is subject to a variety of U.S. anti-money laundering and anti-terrorist financing laws and regulations, such as the Bank Secrecy Act of 1970, as amended, and the USA Patriot Act of 2001, as amended, and a violation of such laws and regulations may result in substantial penalties, fines and imprisonment of Santander Brasil’s officers and/or directors.
Owing to its status as a subsidiary of an FBO, the company is subject to Section 13 of the U.S. Bank Holding Company Act and its implementing rules (collectively, the Volcker Rule). The Volcker Rule prohibits banking entities from engaging in certain forms of proprietary trading or from sponsoring or investing in covered funds, in each case subject to certain exceptions.
History
Banco Santander (Brasil) S.A. was incorporated in 1985.
