Sovereign Bank will change its name to Santander Bank and spend $200 million to upgrade branches and roll out an advertising campaign.

The $80 billion-asset bank, a unit of Spain's Banco Santander (SAN), said its new name will take effect Oct. 17. The change will apply to all of the company's approximately 720 branches in nine states. Sovereign has its largest retail presence in Massachusetts, with 229 branches, followed by Pennsylvania and New Jersey.

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