Overview

• Santander will run its German consumer finance and digital direct banking businesses under the Openbank name, using the tag "by Santander."
• Germany becomes the first European market where Santander shifts its retail presence to the Openbank brand.
• Santander says the change will roll out gradually, with existing services for customers and partners continuing during the transition.
• The rebrand requires regulatory approvals and societary adjustments, and specific implementation timelines have not been disclosed.
• The newly appointed Germany chief also leads Openbank and holds a third executive role, concentrating leadership across the brands.