Santander Renews $140 Million Auditing Contract with PwC

Banco Santander SA decided to renew its contract for audit services with PriceWaterhouseCoopers LLP, potentially keeping one of Europe’s biggest such relationships with the firm until 2035.

The tender is for services for 2026 and was awarded to PwC over bids from Ernst & Young LLP, Deloitte LLP and KPMG LLP, a spokesman for the bank said by e-mail. Spain’s biggest bank spent €133 million ($142 million) on audit fees last year, less than HSBC Holdings Plc but well ahead of peers including UBS Group AG and Deutsche Bank AG.

Representatives from PwC declined to comment. ...