[Locked in]

Santander is the largest bank in the Eurozone and has expanded all around the world in the last ten years, and is a major player in the UK market these days since it took over Abbey National. So don't think of it as just a Spanish bank as it's diversified around the world.

Thanks for pointing this out Isa- I originally learned of it while living in Colombia and thought of SAN as a play on South America as well so I should not forget that! The important thing is that all of these markets have been way behind the US market so now need to play a little catch up. Also, 9% dividend is the reason why this is a great long term investment.