Santander has been authorized by the Chinese Banking Regulatory Commission to acquire a 20% stake in Bank of Beijing Consumer Finance Co. for EUR 38 million. This makes Santander the second largest shareholder after Bank of Beijing, which holds 35.29%. Under a strategic alliance agreement, Santander will participate in developing and managing the company. This transaction represents Santander's continued growth in China, where it also has joint ventures in auto finance and wholesale banking.

1. 1
Comunicación Externa.
Ciudad Grupo Santander Edificio Arrecife Pl. 2
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11
comunicacionbancosantander@gruposantander.com
Press release
China’s CBRC approves Santander’s acquisition
of 20% of Bank of Beijing Consumer Finance
 Santander will invest EUR 38 million to acquire a 20% stake in Bank of Beijing
Consumer Finance Co., becoming its second largest shareholder.
 Santander will participate in the development and management of the company.
Madrid/Beijing, May 15, 2013 - Santander has been authorized by the Chinese Banking
Regulatory Commission (CBRC) to proceed with the acquisition of 20% of the Bank of Beijing
Consumer Finance Company (BoBCFC).
Santander will invest RMB 306 million, or about EUR 38 million, to acquire new shares of
BoBCFC in a capital increase to be carried out by BoBCFC. After the transaction, Santander
Consumer Finance will be BoBCFC’s second largest shareholder, with a 20% stake, following
Bank of Beijing with 35.29%. Other Chinese investors participating in the capital increase will
hold the remaining stake.
Under a strategic alliance agreement it signed with BobCFC, Santander will participate in the
development and management of the company.
In 2009, Bank of Beijing was granted one of the four pilot consumer finance licenses in China.
It was the first bank to start operations, in 2010, with the aim of serving the retail consumer
market through a specialized business model, accompanying China’s economic
transformation. After three years of operations, the Beijing-based company has a credit
portfolio of more than RMB 2 billion, or about EUR 250 million.
Bank of Beijing is a leading regional commercial bank in China, with over RMB 1.12 trillion of
assets (EUR 138 billion). It is the most efficient bank in China in terms of employee
productivity and cost-to-income ratio.
Other prominent co-investors include Legend Holding, the parent company of PC vendor
Lenovo, Dalian Wanda, a Chinese media and real estate conglomerate that recently acquired
the American theatre chain AMC Entertainment, and other retailers that will provide their
point-of-sale networks to jointly develop the business.
This transaction represents another milestone in Santander’s growth in China. In March 2013,
Fortune Auto Finance, a joint venture set up by Santander and Chinese car maker Anhui
Jianghuai Automobile (JAC), commenced operations. It is a multi-brand car finance company
which operates across China, in which Santander owns 50% and has appointed the CEO and
the Chief Risk Officer.
In addition to the two consumer finance companies, Santander is also active in the global
wholesale banking businesses in China, with the aim of financing the enormous and growing
trade flows between China and Latin America. Santander is now present in the region in
Beijing, Shanghai, Hong Kong, Singapore, Tokyo, Seoul, and Sydney.

2. 2
Comunicación Externa.
Ciudad Grupo Santander Edificio Arrecife Pl. 2
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11
comunicacionbancosantander@gruposantander.com
Since 2008, Banco Santander, through its Santander Universities Global Division, has signed
cooperation agreements with some of the most prestigious universities of China: Tsinghua
University, Peking University, Renmin University, Beijing Institute of Technology, Shanghai
Jiao Tong University and Fudan among others. The agreements consist of Spanish language
training and international mobility programs for students and researchers. Banco Santander
supports Chinese universities in their internationalization and links to other countries and
regions, such as Spain and Latin America.