Banco Santander has announced the appointment of Nitin Prabhu as the global head of its Digital Consumer Bank (DCB). Prabhu, who will join early in 2025 pending regulatory approval, will be based in Madrid and report to the group executive chair.
Prabhu transitions from PayPal, where he was responsible for product management for small and medium-sized businesses and financial services. His experience includes a Bachelor of Engineering in Electronics and Communication, with expertise in business and product management across India and the US. He holds several US patents related to finance, payments, identity, and commerce.
As the new head of DCB, Prabhu will oversee Santander's auto and consumer business worldwide, including Openbank. The DCB is one of Santander’s five global business units encompassing auto financing, consumer lending supported by Zinia, and Openbank operations. It serves 25 million customers across 26 countries in Europe and the Americas.
In recent developments within DCB, significant milestones have been achieved this year such as launching Openbank in the US and Mexico. Additionally, partnerships with Amazon and Apple were established in Germany to provide financing solutions through Zinia.
During the first nine months of 2024, DCB reported €9.6 billion in revenues—accounting for 20% of total group revenue—and €1.5 billion in attributable profit.