Santander has surpassed three major US investment banks to become the leading arranger of bonds in Latin America.
The Spanish lender has overtaken Bank of America, JPMorgan, and Citi in the race for market share in the region's debt markets, according to a report by Expansion.
This development marks a significant shift in the competitive landscape for emerging-market fixed income.
While US banks have traditionally dominated the syndication of Latin American debt, Santander's local footprint and established relationships with regional issuers appear to be driving this reversal.
The bank's ability to capture this leadership position suggests growing confidence in its regional franchise and its capacity to execute large-scale transactions in the area.
The move comes as global equity markets have posted broad gains, with Southern and Eastern European indices leading the advance.