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| Computer Translations Übersetzungen Traductions Traduzioni
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| Date |
18/09/2001 |
| Companies
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BANCO SANTANDER CENTRAL HISPANO - SANTANDER CENTRAL HISPANO - |
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no more "Banco" for BSCH |
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Banco Santander Central Hispano is to drop the `Banco’ from its name and become simply `Santander Central Hispano’ in the future. It is to spend Pts1.8bn (€10.8m £6.8m $10.0m)on the re-branding.
Although Banco Santander and Banco Central Hispano merged back in 1999 and quickly adopted a united identity in other countries they kept the two branch identities in Spain. The plan to merge the networks in Spain and reduce the number of branches has been highly controversial and has led to a series of resignations / sackings. Most prominent in this 'debate' was the disagreement between Emilio Botin (from Banco Santander) and Jose Maria Amusategui (from Banco Central Hispano) the two co-chairman. This debate ended in July with Amusategui retiring early.
The new logo uses the same colours and the torch logo as was used previously by Banco Santander. The advertising agency reported that it had started with 108 different possible designs with the choice amongst the finalists down to market research not management bias.
Santander Central Hispano also reported its first half profits. Included with the results was confirmation that a further 1,000 domestic branches would close in 2003 in addition to the 1,400 previously announced that have closed or will close during this year and next. The results are reported separately.
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