Commercial Record file photo

Santander Bank’s parent company plans to discontinue U.S. home lending and review some of its commercial and industrial lending segments as part of a strategy to accelerate profitable growth.

Banco Santander, which is based in Spain and has U.S. headquarters in Boston, said in an investor presentation that the bank is simplifying its U.S. businesses with an approach based on disciplined expense management and capital allocation.

The bank plans to refocus its U.S. business around other products, including consumer lending.

“Santander US is positioned to maintain profitability above cost of capital across core businesses,” Santander said in the investor presentation. “We are refocusing our operations in the US around our consumer franchise and fee-based businesses that benefit from the Group’s connectivity or have a distinct competitive advantage.”

Santander has 15 branches in Hartford County as well as a branch in Waterbury and another in New Haven, according to FDIC data. The bank closed four branches in Plainville, Unionville, East Windsor and Waterbury last August.

Santander had less than 1 percent of the residential mortgage market share in Connecticut in 2021, according to data from The Warren Group, publisher of The Commercial Record. Santander had $71.79 million in total Connecticut residential volume last year, including $15.7 million in purchase activity. Rocket Mortgage, which did $3.48 billion in residential lending in the state in 2021, had the largest total market share with 7.3 percent of volume.

Chase Bank, which had $1.95 billion in total Connecticut residential lending, had the highest market share among bank lenders with 4.1 percent. About 70 percent of Chase’s 3,100 loans were refinances.

Santander did 270 residential mortgages in Connecticut last year, and 80 percent involved refinances, according to The Warren Group.