Santander Bank is looking forward to sign up a joint venture with China Construction Bank (CCB).

The Santander Bank, which is the largest bank in the eurozone, has refused to give any statement, however, some sources told reporters that the joint venture will focus on rural banking and car financing as well.

According to some national media, “The joint financial holding company will likely have an initial capital of US$439 million, rising to US$732 million in three years.”

Credit card holders who are planning a trip to Spain may be pleased to hear that Santander is planning to make all of its ATMs in the nation free for Santander United Kingdom bank account clientss.

While talking to reporters, the credit card provider Santander said that no other international bank offers free access to ATMs abroad to British people.

Debit and Credit card holders with a Santander bank account will be to draw money from the ATMs without extra charge from January 11th.

This could add up to significant savings with extra funds to be spent on holiday treats.

An apex court in Spain has announced a decision in which it has sentenced the chief executive of the country’s biggest bank, Santander, to six months in prison for making false accusations against its shareholder around 15 years ago.

According to the court, it has found Alfredo Saenz carried out the deception when he was head of the bank subsidiary Banesto. Moreover, Banesto has announced that it will appeal the sentence.

However, Seanz is not expected to serve any time in prison as he was no prior convictions.

According to some reports, Goldman Sachs could move up to one fifth of its 5,000 London-based employees to Spain.

The Goldman Sachs bank, UK’s biggest contributor of revenue in the financial sector, is in talks with the Treasury over the temporary bonus tax announced in the recent pre-Budget report.

Last week, Barclays’ chief executive, John Varley told reporters about the temporary levy of 50 percent on individual discretionary bonuses of over 25,000 pounds could damage the city.

BBVA, the second-largest bank in Spain, has announced that it would increase its holding stake in China Citic Bank (CNCB) from 10% to 15% for about 1 billion euros (1.58 billion dollars).

According to the statement issued by the Spanish stock exchange officials, BBVA will buy additional 4.93% of Citic for about HK$6.45 per share.

The bank said in a statement that the purchase would take BBVA’s interest to 15%, at the cost of around 1 billion euros.

Two more regional banking institutions from Spain had decided to merge as the pace of consolidation in the segment gathers pace because of the recession period, which disturbed the whole market.

The two regional Spanish saving banks Unicaja and Cajasur are based in the southwestern area of Andalusia. Both the banks entered into the deal on Monday.

Unicaja and another savings bank Caja de Jaen, decided in Aug to unite and by joining force the 3 banking institutions will result in a powerful regional financial institution.

Banco Bilbao Vizcaya Argentaria (BBVA) SA, the second-largest bank in Spain, aims to increase its stake in China CITIC Bank Corp to 15%.

Earlier, it hold 10% equity stake in the stake in China CITIC Bank, which is the listed banking unit of the China’s largest investment conglomerate.

According to the sources, the Spanish lender expects to allocate EUR 1.1 billion to buy a 5% stake in China CITIC Bank at HK$6.45 per share.

The move is in proportion to BBVA’s strategy to merge its position as a leading foreign investor in China’s banking industry.

Spain’s Santander, the banking group owned by Britain’s Abbey, Alliance & Leicester and Bradford & Begley, will next year roll out a no-fees current account without any charges for overdraft use or access to foreign ATMs.

According to the banking group, the account named as the Santander Zero Current Account will only be accessible to customers who take out a mortgage with Santander and will be launched to coincide with the re-branding of over 1,000 Abbey and Bradford & Bingley branches in January 2010.

Spain’s largest bank, Banco Santander announced that its 3Q profits remained steady at €2.22 billion.

Despite doing a decent business in Britain, bank’s loan losses had gone up during the period.

European zone’s largest bank said that its third quarter revenue surged 11% year on year, and profits by Santander units, which were located in Britain, rose 58% to 1.16 billion pound sterling till September.

Despite having such a fantastic run, non-performing loans continued to sink bank’s bottom line.

BBVA reports a 3.3 per cent down in net profit

Spain's second-largest bank BBVA, Banco Bilbao Vizcaya Argentaria, has reported a 3.3 per cent decline in its net profit for the nine-months.

The net revenue has slipped 3.3 per cent to 4.179 billion euros, which is almost equal to the analyst’s predicted value of 4.106 billion.

However, the capital ratio of the bank witnessed an increase and it has reached 8 per cent from 7.1 per cent three months ago.