Banco Santander, S.A., doing business as santander group (UK:, US: ,[santanˈdeɾ], is a Spanish multinational financial services company based in Madrid and Santander in Spain. In addition, Santander maintains a presence in all global financial centres as the world's 16th largest banking institution. Although known for its European banking operations, it has expanded its operations throughout North and South America and, more recently, in continental Asia. many subsidiaries, such as National Monastery, have been rebranded under the name Santander. The company is an element of the European Stock Market Index Stoxx 50. In May 2016, Santander was ranked 37th in forbes' 2000 global list of the world's largest public companies. Santander is the largest bank in Spain. As of 2017, Santander is the fourth largest bank in Europe with nearly $1.4 trillion in total assets under management (AUM). Traded on the European Stock Market Index Stoxx 50, the bank's total market value is $69.9 billion.