Santander CEO Rules Out Issuing Capital To Pay For Buys

29th Jul 2010 12:31

MADRID (Dow Jones)--Banco Santander SA (STD) won't raise capital to pay for a recent string of acquisitions, Chief Executive Alfredo Saenz said Thursday. Speaking at a press conference, Saenz said that the bank has enough "internal resources" to pay for the purchases it has made in recent months. Santander has gone on a shopping spree in recent months, having bought the part it didn't already own of its Mexican unit, a small retail banking business in Germany, and a couple of subprime car loan books in the U.S. It is also close to wrapping up a deal to purchase about 300 branches in the U.K. from the Royal Bank of Scotland Group Plc (RBS). -By Christopher Bjork, Dow Jones Newswires; +34 606 396 093; [email protected] (END) Dow Jones Newswires July 29, 2010 07:31 ET (11:31 GMT)