The financial services brand called a procurement-led review of its advertising operations last month through ISBA and held initial meetings with a number of agencies.
However, Santander is yet to get in touch with those agencies since the talks and has now opted to continue with WCRS as its agency of record rather than hold a formal pitch process.
A spokeswoman said: "I can confirm that we are not pitching our advertising account. WCRS is our advertising agency."
WCRS’s most recent campaign for Santander featured the Formula One star Lewis Hamilton.