S&P affirms Banco Santander Serfin

Standard & Poor's said it affirmed its BBB long- and A-3 short-term foreign currency counterparty credit and CD ratings on Banco Santander Serfin SA.

S&P said it also confirmed its BBB+ long- and A-2 short-term local currency ratings. The outlook is stable.

The agency noted that the ratings reflect its group methodology, where Banco Santander Serfin is considered a strategically important subsidiary for Banco Santander Central Hispano SA (AA-/positive/A-1+).

The ratings on Santander Serfin also reflect its consistent financial performance in the last four years and strong loan growth obtained in targeted business segments, mainly retail loans, S&P added.

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