Banco Santander SA Chairman Emilio Botin said Friday that the Spanish company, which bought Sovereign Bancorp Inc. of Philadelphia last year, does not plan to make any more acquisitions in the United States .

Botin was responding to a question from a shareholder during Santander's annual general meeting in Spain.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.