Despite sluggish growth in the banking industry, Spain's Banco Santander is tiding over the challenge through its unique business model, said a senior executive at the euro zone's largest lender by market value.

Juan San Roman, CEO of the bank's Asia Pacific region, said that to boost profitability, Santander's usual policy is to focus just on the markets where it can achieve a significant market share, which allows for a better cost efficiency ratio.

"We are not like other international banks, which like to have a presence in all countries around the world regardless of its potential market share," said San Roman.