Euromoney magazine named Santander the Best Bank in the World for 2012, citing its international diversification, efficiency, and ability to generate profits even during difficult economic times. Santander was also recognized as the best bank in five of its core markets: the UK, Poland, Portugal, Mexico, and Argentina. The chairman of Santander said the bank aims to be the best bank for customers in its ten core markets by maintaining a strong balance sheet with significant capital and liquidity reserves.