View source for Finance:Santander Consumer Bank (Germany)

{{Infobox company
| name       = Santander Consumer Bank AG
| logo       = 200px
| type       =     [[Company:Corporation|Corporation]]
| foundation = 20 August 1957
| location   = Mönchengladbach, Germany
| assets     =€43 billion {{small|(2018)}}<ref name="assets2018">{{Cite web|url=https://www.santander.de/static/geschaeftsbericht/pdf/GB_2018_Santander_Gesamtdokument_Pflichtteil.pdf|title=Santander Geschäftsbericht 2018|website=Santander Consumer Bank|access-date=24 September 2019}}</ref>
| revenue    = 
| parent     = [[Company:Banco Santander|Banco Santander]]
| members    = 
| num_employees = 3,401 {{small|(2018)}}<ref name="assets2018" />
| homepage   = {{URL|http://www.santander.de/}}
}}
[[File:Santander Consumer Bank Mönchengladbach logo.svg|thumb|Logo until 2018]]
The '''Santander Consumer Bank AG''' is a German [[Social:Bank|credit institution]] in the legal form of a [[Company:Corporation|corporation]] with headquarters in Mönchengladbach. It is a wholly owned subsidiary of the Spanish [[Company:Banco Santander|Banco Santander]] S.A.

The Santander Group is one of the largest banks in the world with over 133 million customers<ref>{{Cite web|url=http://www.santanderannualreport.com/2017/en/annual-report/santander-2017.html|title=Santander in 2017|website=Santander Consumer Bank|access-date=25 March 2019}}</ref> and presence in more than 40 countries. In Germany, the bank is represented by the Santander Consumer Bank AG. The Santander Consumer Bank AG has a [[Finance:Loan|loan]] [[Finance:Portfolio|portfolio]] of €30.8 billion<ref name="assets">{{Cite web|url=https://www.unternehmen.santander.de/geschaeftsberichte/2017/de/index.html|title=Santander Geschäftsbericht 2017|website=Santander Consumer Bank|access-date=25 March 2019}}</ref> and has about 5.6 million customers.

The business model of Santander Consumer Bank AG is based on three pillars: [[Finance:Retail banking|retail banking]], vehicle financing and consumer financing. The Santander Consumer Bank AG is the largest manufacturer-independent bank in the field of car, motorcycle, and (motor) caravan financing and maintains ten dealer sales centers in the metropolitan areas of [[Place:Hamburg|Hamburg]], Frankfurt, Leipzig, [[Place:Munich|Munich]], [[Place:Hanover|Hanover]], [[Place:Berlin|Berlin]], [[Place:Stuttgart|Stuttgart]] and Mönchengladbach. The consumer financing business focuses on the consumer electronics, computer and furniture retail sectors.

The Santander Consumer Bank AG has 211 branches<ref name="assets" /> in Germany (as of 31 December 2017). All banking services are also offered directly via online and [[Finance:Telephone banking|telephone banking]]. In total, Santander employs 3,672 people in Germany.

The Santander Consumer Bank AG is a member of [[CashPool]], the Bankenfachverband e.V., the Bankenarbeitsgemeinschaft e.V. and the ''[[Organization:Verband deutscher Pfandbriefbanken|Verband deutscher Pfandbriefbanken]]''. Santander is affiliated to the Deposit Guaranty [[Finance:Investment fund|Fund]] of the ''Bundesverband deutscher Banken''.

==History==
[[File:Santander Consumer Bank logo.svg|thumb|Historical company logo]]
The bank was founded in 1957 as ''Curt Briechle KG Absatzfinanzierung'' by businessman Curt Briechle in Mönchengladbach as a sales financing company for automobiles. In 1968, the company was converted into a public limited company and renamed ''Bankhaus Centrale Credit AG''.

In 1987, the Spanish bank [[Company:Banco Santander#History|Banco Santander Central Hispano]] (BSCH) acquired 100% of the bank and renamed it CC-Bank AG.<ref name="Spanish">{{Cite web|url=https://www.wallstreet-online.de/ratgeber/finanzen-steuern-versicherung/banken/die-ehemalige-cc-bank-gehoert-jetzt-zur-santander-bank|title=Die Ehemalige CC-Bank gehört jetzt zur Santander Bank|website=wallstreet:online|access-date=25 March 2019}}</ref> In 1988, the Royal Bank of Scotland acquired 50% of the CC-Bank's shares. In 1996, the Santander Central Hispano bought back the shares from the Royal Bank of Scotland.

In 2002, the Cologne-based ''AKB Privat- und Handelsbank'' merged with the CC-Bank AG.<ref name="Spanish" /> The Cologne headquarter of AKB at ''Friesenplatz'' was dissolved. In 2003, the Santander Direkt Bank AG from Frankfurt, which also belonged to the BSCH-Group, was merged with the CC-Bank.

As of 1 October 2004, the bank's market presence was adapted to the corporate design of the Spanish [[Finance:Parent company|parent company]]. Since then, the name of the brand was Santander Consumer CC-Bank; for the time being the official company name remained CC-Bank AG. In August 2007 the official renaming in the commercial register to Santander Consumer Bank AG was made.

On 1 July 2008, the Royal Bank of Scotland sold its consumer credit business unit ECF (European Consumer Finance) to Santander Consumer Finance. This included RBS (RD Europe) GmbH with branches in Ratingen (Germany), Houten (Netherlands), Merelbeke (Belgium) and [[Place:Vienna|Vienna]] (Austria), which now belong to the German Santander Consumer Holding GmbH. With the purchase the ComfortCard brand in those countries was also taken over.<ref>{{Cite web|url=http://www.comfortcard.com/CC/de/ger/Das_Unternehmen/default.asp.html|title=Das Unternehmen RBS (RD Europe) GmbH|website=ComfortCard|archive-url=https://web.archive.org/web/20121016041034/http://www.comfortcard.com/CC/de/ger/Das_Unternehmen/default.asp.html|archive-date=16 October 2012|url-status=|access-date=25 March 2019}}</ref>

As of 1 July 2009, ''GE Money Bank GmbH'' in Hanover, which was acquired in November 2008, was merged with the Santander Consumer Bank AG.

In July 2010 it was announced that the German private customer business of [[Company:SEB Group|SEB]] will be sold to Banco Santander.<ref>{{Cite web|url=https://www.handelsblatt.com/finanzen/banken-versicherungen/seb-uebernahme-santander-kauft-sich-ein-sorgenkind/3487894.html|title=Santander kauft sich ein Sorgenkind|last=Höpner|first=Axel|date=12 July 2010|access-date=25 March 2019}}</ref> The purchase price for the 173 SEB branches amounted to €555 million. As of 31 January 2011, the private customer business with about 1 million customers and about 2,400 employees was transferred to Santander and now operates under ''Santander Bank – Zweigniederlassung der Santander Consumer Bank AG''.

On 1 July 2016, a joint venture in which the Santander Consumer Bank AG holds a 50 percent stake, was launched by the ''PSA Bank Deutschland GmbH''. The [[Company:Groupe PSA|PSA Bank]] offers car financing, leasing products and dealer financing with the Peugeot Bank and Citroën Bank brands. Deposits are available through the PSA Direct Bank.<ref>{{Cite web|url=https://www.kfz-betrieb.vogel.de/neustart-fuer-psa-bank-deutschland-a-541546/|title=Neustart für PSA Bank Deutschland|last=Baeuchle|first=Christoph	|date=8 July 2016|website=kfz-betrieb|access-date=25 March 2019}}</ref>

In September 2016, the bank obtained the license to issue bonds. At the end of November 2017, the bank issued a [[Finance:Bond|bond]] certificate for the first time.<ref>{{Cite web|url=http://presse.santander.de/pressreleases/santander-begibt-erstmals-pfandbrief-2311807|title=Santander begibt erstmals Pfandbrief |date=1 December 2017|website=Santander Consumer Bank|access-date=25 March 2019}}</ref>

In 2018, the Santander Consumer Bank AG will unify its brand image and will only perform in Germany as "Santander". As a result, the distribution networks of "Santander Consumer Bank", "Santander Direkt Bank" and "Santander Bank" are merged.

==Corporate Office and New Work Concept==
As the number of employees rose to more than 1,300 after the merger with AKB Bank and as they worked at five different locations in Mönchengladbach, a new corporate headquarter was built at ''Karmannsstraße'' in Mönchengladbach by mid-2007 at the address ''Santander-Platz 1''.

In the building planned by the architects Hentrich-Petschnigg & Partner,<ref>{{Cite web|url=https://www.hpp.com/en/projekte/typologies/buero-und-verwaltung/santander_consumer_bank_building.pdf|title=Santander Consumer Bank Building|website=Hentrich-Petschnigg & Partner|access-date=25 March 2019}}</ref> the employees of the Santander Consumer Bank AG are to work with the so-called New Work concept. Meeting rooms for larger groups or small rooms, so-called "think tanks", for 1 to 3 persons are used for communication as well as "chillout lounges" or coffee bars.

Between 2013 and 2015, another complex of buildings was built on ''Madrider Straße'' in the ''Nordpark'' within sight of the Mönchengladbach stadium. Its shape and layout are based on the corporate headquarters at ''Santander-Platz''.<ref>{{Cite web|url=https://www.rp-online.de/nrw/staedte/moenchengladbach/so-gross-wird-der-santander-neubau-aid-1.3879090|title=So groß wird der Santander-Neubau|last=Jüngermann|first=Ralf|date=11 December 2013|website=RP ONLINE|access-date=25 March 2019}}</ref><ref>{{Cite web|url=https://rp-online.de/nrw/staedte/moenchengladbach/santander-neubau-im-nordpark-fertig_aid-20075821|title=Santander-Neubau im Nordpark fertig|last=Specks|first=Tim|date=31 October 2015|website=RP ONLINE|access-date=25 March 2019}}</ref><ref>{{Cite web|url=https://rp-online.de/nrw/staedte/moenchengladbach/santander-neubau-ist-auf-der-zielgeraden_aid-21893915|title=Santander-Neubau ist auf der Zielgeraden|last=Schnettler|first=Inge|date=6 July 2015|website=RP ONLINE|access-date=25 March 2019}}</ref>

==Engagement==
The Santander Universities global business unit partners with more than 1,200 academic institutions in 20 countries worldwide, including the German Universities of [[Organization:University of Bremen|Bremen]],<ref>{{Cite web|url=https://www.uni-bremen.de/suchen.html?q=santander|title=New Yorker Studenten forschen in Bremen|website=Universität Bremen|access-date=25 March 2019}}</ref> [[Organization:Heidelberg University|Heidelberg]],<ref>{{Cite web|url=https://www.uni-heidelberg.de/presse/news2013/pm20130705_santander.html|title=Universität Heidelberg und Santander Universitäten erweitern bisherige Kooperation|date=5 July 2013|website=Universität Heidelberg|access-date=25 March 2019}}</ref> [[Organization:University of Cologne|Cologne]],<ref>{{Cite web|url=https://www.portal.uni-koeln.de/9015.html?&tx_news_pi1%5Bnews%5D=4074&tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Baction%5D=detail&cHash=aa7e813518d23f11a07f66ef3b5af7db|title=Santander und Universität zu Köln verlängern Kooperation|date=2 February 2016|access-date=25 March 2019}}</ref> the Humboldt University of Berlin,<ref>{{Cite web|url=https://www.hu-berlin.de/de/pr/nachrichten/pm1705/nr_170531_00|title=Santander und HU verlängern Kooperation für das HU-Welcome Center "International Scholar Services"|date=31 May 2017|website=Humboldt-Universität zu Berlin|access-date=25 March 2019}}</ref> Free University of Berlin,<ref>{{Cite web|url=http://www.muk.uni-frankfurt.de/62326236/187?|title=Santander sagt weitere Unterstützung für Goethe-Uni zu|date=11 July 2016|website=Goethe Universität Frankfurt am Main|access-date=25 March 2019}}</ref> [[Organization:University of Düsseldorf|University of Düsseldorf]],<ref>{{Cite web|url=https://www.uni-duesseldorf.de/home/universitaet/strukturen/zentrale-universitaetsverwaltung-zuv/leiter-der-zentralen-universitaetsverwaltung/zentrale-universitaetsfoerderung/zentrale-universitaetsfoerderung-auf-einen-klick/zentrale-universitaetsfoerderung/veranstaltungen-und-get-together/archiv-ab-2016/04092018-santander-unterstuetzt-die-heinrich-heine-universitaet-stiftungs-juniorprofessur-und-vergabe-von-deutschlandstipendien-vereinbart.html|title=Santander unterstützt die Heinrich-Heine-Universität|website=Heinrich Heine Universität Düsseldorf|access-date=25 March 2019}}</ref> [[Organization:University of Giessen|Justus Liebig University Giessen]],<ref>{{Cite web|url=https://www.uni-giessen.de/internationales/santander|title=Partnerschaft von Santander Universitäten und der Justus-Liebig-Universität Gießen|website=Justus-Liebig-Universität Giessen|access-date=25 March 2019}}</ref> [[Organization:Goethe University Frankfurt|Goethe University Frankfurt]],<ref>{{Cite web|url=https://www.santander.com/csgs/StaticBS?ssbinary=true&blobtable=MungoBlobs&blobkey=id&SSURIsscontext=Satellite+Server&blobcol=urldata&SSURIcontainer=Default&SSURIsession=false&blobwhere=1278685811267&blobheader=application%2Fpdf&SSURIapptype=BlobServer|title=Goethe-Universität Frankfurt and Banco Santander sign a collaboration agreement|date=20 July 2012|website=Santander|access-date=25 March 2019}}</ref> University of Göttingen,<ref>{{Cite web|url=https://www.uni-goettingen.de/de/3240.html?archive=true&archive_source=presse&archive_id=5709|title=Presseinformation: Förderung für Internationalisierung wird fortgesetzt|date=16 December 2016|website=Georg-August-Universität Göttingen|access-date=25 March 2019}}</ref> [[Organization:University of Münster|University of Münster]],<ref>{{Cite web|url=https://www.uni-muenster.de/foerdern/santander.html|title=Gemeinsam für Internationalisierung|date=2018|website=Universität Münster|access-date=25 March 2019}}</ref> [[Organization:Saarland University|Saarland University]],<ref>{{Cite web|url=https://www.uni-saarland.de/page/geben/spenden/wand.html|title=Fördern und Stiften|website=Universität des Saarlandes|access-date=25 March 2019}}</ref> [[Organization:University of Tübingen|University of Tübingen]],<ref>{{Cite web|url=https://uni-tuebingen.de/en/university/news-and-publications/press-releases/press-releases/article/santander-foerdert-forschung-und-lehre-an-der-universitaet-tuebingen.html|title=Santander fördert Forschung und Lehre an der Universität Tübingen|date=4 May 2018|website=Eberhard Karls Universität Tübingen|access-date=25 March 2019}}</ref> [[Organization:TU Dresden|TU Dresden]],<ref>{{Cite web|url=https://tu-dresden.de/feeds/tu_pressespiegel/35f02f617b1d6db12f8f88bd78343e2b|title=Santander und Technische Universität Dresden vereinbaren Partnerschaft|date=21 December 2016|website=Technische Universität Dresden|archive-url=https://web.archive.org/web/20170804012210/https://tu-dresden.de/feeds/tu_pressespiegel/35f02f617b1d6db12f8f88bd78343e2b|access-date=25 March 2019|archive-date=2017-08-04}}</ref> the TUM School of Management<ref>{{Cite web|url=https://www.wi.tum.de/santander-technical-university-munich-agree-cooperation/|title=Santander and TUM School of Management sign cooperation contract|date=5 April 2017|website=Technical University of Munich|access-date=25 March 2019}}</ref> and the
''Hochschule Niederrhein''.<ref>{{Cite web|url=https://www.hs-niederrhein.de/news/news-detailseite/hochschule-niederrhein-und-santander-consumer-bank-ag-erneuern-kooperationsvereinbarung-10004/|title=Hochschule Niederrhein und Santander Consumer Bank AG erneuern Kooperationsvereinbarung|date=9 October 2014|website=Hochschule Niederrhein|access-date=25 March 2019}}</ref>

==Criticism==
The Santander Consumer Bank AG is not a member of the Employers' organization of the private banking industry and thus not bound by collective agreements. At Santander, according to union information, there is a "proliferation of varying salaries" that has arisen in recent years as a result of acquisitions of banks.<ref>{{Cite web|url=http://banken.verdi.de/santander-bank|title=Banken|date=February 2011|website=verdi|archive-url=https://web.archive.org/web/20130519131546/http://banken.verdi.de/santander-bank|access-date=25 March 2019|archive-date=2013-05-19}}</ref> Almost one third of the employees work in a company-owned temporary employment agency and outsourced [[Social:Subsidiary|subsidiaries]]. According to Jörg Reinbrecht from the ver.di Financial Services Division, "even employees who only work on a commission basis have no fixed salary. They work in small branches that only sell loans, nothing else".<ref name="Subsidiary">{{Cite web|url=https://publik.verdi.de/2012/ausgabe-06/gewerkschaft/gewerkschaft/seiten-4-5/A4|title=Riesengewinne und Lohndrückerei|website=verdi|access-date=25 March 2019}}</ref> The bank denies this.

The union ver.di has been negotiating with Santander since February 2012 on a company collective agreement. In particular, the employees taken over from SEB demanded the continuation of their collective agreement for all Santander employees.<ref name="Subsidiary" /> In April 2013, after 14 months of negotiations, an agreement was reached between Santander and ver.di. For the employees in the branches, a collective agreement came into force retroactively to April 1, 2013. There is still no collective  agreement for employees in the head offices; the Santander Consumer Bank has committed to negotiations with ver.di for 2014.<ref>{{Cite web|url=http://banken.verdi.de/santander-bank/#geschafft-arbeitsbedingungen-tariflich-gesichert|title=Geschafft! Arbeitsbedingungen tariflich gesichert!|date=April 2013|website=verdi|archive-url=https://web.archive.org/web/20130519131546/http://banken.verdi.de/santander-bank/#geschafft-arbeitsbedingungen-tariflich-gesichert|access-date=25 March 2019|archive-date=2013-05-19}}</ref>

In the spring of 2012 Santander withdrew from the free checking account and demanded from part of the customers [[Finance:Bank charge|account maintenance fees]] again.<ref>{{Cite web|url=https://www.handelsblatt.com/finanzen/vorsorge-versicherung/ratgeber-hintergrund/girokonto-banken-erhoehen-heimlich-die-gebuehren-seite-all/7269312-all.html|title=Banken erhöhen heimlich die Gebühren|date=18 October 2012|website=Handelsblatt|access-date=25 March 2019}}</ref> The information of the affected customers was packaged as a marketing campaign.<ref>{{Cite web|url=https://www.welt.de/finanzen/verbraucher/article110089053/Banken-verabschieden-sich-von-ihren-Gratis-Konten.html|title=Banken verabschieden sich von ihren Gratis-Konten|date=22 October 2012|website=WELT|access-date=25 March 2019}}</ref><ref>{{Cite web|url=https://www.derwesten.de/wirtschaft/von-wegen-kostenlos-wie-banken-beim-girokonto-tricksen-id7258774.html|title=Von wegen "kostenlos" - Wie Banken beim Girokonto tricksen|last=Shepherd|first=Christopher|date=4 November 2012|website=DER WESTEN|access-date=25 March 2019}}</ref><ref>{{Cite web|url=https://www.welt.de/print/die_welt/finanzen/article111343128/Das-Maerchen-vom-kostenlosen-Konto.html|title=Das Märchen vom kostenlosen Konto|last=Eckert|first=Daniel|date=21 November 2012|website=WELT|access-date=25 March 2019}}</ref> In a judgment from November 2012<ref>{{Cite web|url=https://openjur.de/u/579311.html|title=LG Mönchengladbach, Urteil vom 26.11.2012 - 8 O 62/12|date=26 November 2012|website=openJur|access-date=25 March 2019}}</ref> the district court Mönchengladbach saw in the procedure of the bank a misleading of the customers,<ref>{{Cite web|url=https://nachrichten.rp-online.de/wirtschaft/was-bankkunden-bei-kostenfreien-girokonten-beachten-muessen-1.3113683|title=Was Bankkunden bei kostenfreien Girokonten beachten müssen|date=21 December 2012|website=RP ONLINE|access-date=25 March 2019}}</ref> a contract change requires the explicit agreement of the customer.<ref>{{Cite web|url=https://www.handelsblatt.com/finanzen/vorsorge/altersvorsorge-sparen/urteil-bank-darf-gratis-konto-nicht-einfach-umstellen/7456846.html|title=Bank darf Gratis-Konto nicht einfach umstellen|date=29 November 2012|website=Handelsblatt|access-date=25 March 2019}}</ref>

Consumer advocates also criticize inadmissible fees for loans.<ref>{{Cite web|url=http://www.guter-rat.de/wirtschaften/recht/verbraucherkredite-banken-kassieren-illegale-gebuehren-fuer-kredite-guter-rat|title=Banken: Illegale Gebühren für Kredite|date=12 October 2012|website=Guter Rat|access-date=25 March 2019}}</ref> For example, Santander requires processing fees of up to 3.5 percent of the loan amount for installment loans.<ref>{{Cite web|url=https://www.handelsblatt.com/finanzen/steuern-recht/recht/ratenkredite-im-vergleich-vorsicht-vor-den-versteckten-gebuehren/6212458-2.html|title=Wie Kunden beim Kredit Tausende Euro sparen|last=Hagen|first=Jens|date=20 December 2011|website=Handelsblatt|access-date=25 March 2019}}</ref> Meanwhile, there are several court judgments against Santander because of loan processing fees. Consumer advocates have organized a protection community for bank customers because of the large number of those affecteded, which has already filed lawsuits against banks in 150 cases to repay the fees.<ref>{{Cite web|url=https://www.test.de/Kreditbearbeitungsgebuehren-Milliardenerstattung-fuer-Kreditkunden-4444333-0/|title=Kreditbearbeitungsgebühren: Rückzahlungen auch für Freiberufler und Firmen|date=4 July 2017|website=Stiftung Warentest|access-date=25 March 2019}}</ref>

Consumer advocates criticized in 2015 unjustified and inadmissibly high fees for address inquiries, reminders and ruptured direct debits.<ref>{{Cite web|url=http://www.spiegel.de/wirtschaft/service/bankgebuehren-versteckte-kostenfallen-bei-konto-und-kredit-a-1029307.html|title=Geringverdiener in der Gebührenfalle|last=Lill|first=Tobias|date=7 May 2015|website=SPIEGEL ONLINE|access-date=25 March 2019}}</ref>

==Awards (selection)==
* At the "BankenMonitor 2017" of the magazine "Autohaus", the Santander Consumer Bank won first place with [[Company:Mazda|Mazda]] Finance in the "Brands without manufacturer bank" category.<ref>{{Cite web|url=https://www.autohaus.de/nachrichten/autohaus-bankenmonitor-2017-votum-mit-ueberraschungselementen-1968669.html|title=Votum mit Überraschungselementen|date=12 July 2017|website=AUTOHAUS|access-date=25 March 2019}}</ref>
* "markt intern": For the thirdteens time in a row, car dealers choose the Santander Consumer Bank as the "Best Autobank 2017"<ref>{{Cite web|url=https://www.usa-cars.center/leasing-finanzierung/|title=LEASING & FINANZIERUNG|website=KLARMANN-LEMBACH|access-date=25 March 2019}}</ref>
* "Fair Company" Seal of approval of the job and business magazine "Karriere" of the publishing group [[Finance:Handelsblatt|Handelsblatt]]<ref>{{Cite web|url=https://www.faircompany.de/unternehmen/profil/c/santander-consumer-bank/|title=Santander Consumer Bank stellt sich vor|website=Fair Company|access-date=25 March 2019}}</ref>
* The "IHK Mittlerer Niederrhein" ranked the Santander Consumer Bank Mönchengladbach several times as one of the best IHK training companies in the region<ref>{{Cite web|url=https://www.ihk-krefeld.de/de/media/pdf/aus-und-weiterbildung/veranstaltungen/listen-beste-ausbildungsbetriebe/beste-ausbildungsbetriebe-2015.pdf|title=Beste Ausbildungsbetriebe 2015|date=2015|website=IHK Krefeld|access-date=25 March 2019}}</ref>

==References==
{{Reflist}}

==External links==
* [http://www.santander.de/ Official Website]

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[[Category:Corporate finance]]

{{Sourceattribution|Santander Consumer Bank (Germany)}}