SANTANDER, Spain, March 18 (Reuters) - Spain’s Banco Santander has not ruled out making purchases to grow in some of its key markets, Chairwoman Ana Botin said on Friday, though the bank aimed primarily to grow organically she said.
“Our aim is to grow market share and to grow profitability,” Botin told a shareholder meeting in the northern port city of Santander, where the bank was founded.
“I cannot rule out future bolt-on acquisitions in our core markets, like we did in Portugal, provided they make both strategic and financial sense.”
Santander bought small lender Banif in Portugal at the end of last year.
Botin said Santander was confident it would meet its targets on profitability and capital for 2018. (Reporting by Jesus Aguado, Writing by Sarah White; Editing by Paul Day)