• Responsible Banking Report | 2020
Letter from the Chairwoman

of the Board of Directors

In mid-2020 I assumed the chair of the Board of Directors of Santander Mexico, which is an enormous source of pride to me, while also representing a challenge to continue contributing to the Bank’s comprehensive and sustainable development, achieving our Responsible Banking goals, and generating value for our customers, shareholders, employees, suppliers and society in general.


2020 was a year summed up by the tumultuous global panorama it provoked. The reality we are currently facing, not only in Mexico but also in other countries, in addition to presenting challenges, has forced us to transform to remain current, to take full advantage of opportunities, and to contribute to the country’s economic recovery and development.

Thanks to our robust business strategy, our corporate governance, our Responsible Banking principles, and the fluid interaction between the Board of Directors and the Bank’s senior management team, we quickly implemented measures to ensure the health and safety of our employees and customers, complying fully with all health protocols stipulated by the authorities. We deployed a vast network to support our customers facing extremely complex situations, and we also implemented measures to support the community in which we operate.

During this period, we continued to work on transforming the Bank and supporting development in the country, in a simple, personal and fair way, offering innovative, accessible and sustainable financial products and services. For example, we launched the first sustainable Equity Investment Fund (SAM- ESG) in Mexico, in addition to being involved in the issuance of the first Social Gender Bond in Mexico alongside FIRA (Fideicomisos Instituidos en Relación a la Agricultura).

Concurrently, from the Board of Directors and in conjunction with the Responsible Banking team, we promoted the adoption of the United Nations 2030 Agenda, including its Principles for Responsible Banking, the Principles of the UN Global Compact, and its Sustainable Development Goals (SDG). Furthermore, in Mexico, we continued following the general Grupo Santander strategy outlined by the Commission for Responsible Banking, Sustainability and Culture. All of these efforts focus on driving shared economic prosperity, social development and environmental conservation in the country.

The significance of my appointment as the first women to chair the Board of Directors of a bank in Mexico is, without a doubt, a clear example that at Santander we promote a culture that is underpinned by diversity, inclusion and gender equality, the goal of which is to create a work environment that enables us to attract, develop and retain the best talent, in addition to driving the innovation of our products and services and the trust that our stakeholders place in us.

The role that women play within our organization and our society is of fundamental importance to Santander, which is why, in 2020, we reaffirmed our commitment to the Women Empowerment Principles (WEP’s), which shows that it is our responsibility to create a more equitable society, one that promotes the development of each of its members.

As a result of our robust corporate governance structure, in addition to the commitment our board members have to the sustainability and Responsible Banking agenda, not to mention our experience and good practices that are based on Environmental, Social and Corporate Governance (ESG) benchmarks, in 2020 we were included for the first time ever on the new S&P/BMV Total Mexico ESG Index, as well as the Dow Jones Sustainability MILA Pacific Alliance Index (DJSI MILA 2020).

Finally, I would like to take this opportunity to thank, both on behalf of Santander and on a personal note, Marcos Martínez Gavica for the outstanding work he has done for almost 20 years spearheading the consolidation and expansion of the Bank and presiding over the Board of Directors from 2016 to 2020. His tremendous work has, without a doubt, positioned Santander as one of the leading banking institutions in Mexico.

I am convinced that 2021 will require companies to show greater levels of responsibility towards their employees, their customers, their shareholders, and the community in which they live and work, which is why, at Santander, we will redouble our efforts to create a fairer and freer society, contribute to environmental sustainability, and safeguard our future generations.

Laura Diez Barroso Azcárraga
Chairwoman of the Board of Directors