Santander CEO Botín praises Lula government's market confidence and Central Bank independence

Santander Group CEO Ana Botín said the Lula government has given "extremely important demonstrations of confidence to the markets," citing the independence of Brazil's Central Bank, which she called "equal to or more independent than any in any developed country." Botín made the remarks at the XXII Santander Latin America Meeting, adding that Brazil has "very solid institutions" and comparing its checks and balances to the United States. She also highlighted the bank's voluntary tender offer for Santander Brasil as proof of confidence, calling it a multi-billion-dollar medium-term bet. On fiscal issues, Botín said the challenge is global, arguing that digital economies still operate under industrial-era tax structures and require a "new social contract." She said election results in the U.S. reflect citizens' will and must be respected, with public-private collaboration remaining essential.