CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS








As independent public accountants, we hereby consent to the incorporation by
reference in the Registration Statements on Form S-8 (Nos. 33-20186, 33-29038,
33-39453, 33-44108, 33-89526, 33-89592, 333-05251, 333-05309) and on Form S-3 
(Nos. 33-46870, 333-09113) of Sovereign Bancorp, Inc. of our report dated,
February 9, 1998 on the December 31, 1997 financial statements of First Home
Bancorp, Inc. and subsidiaries, included in Sovereign Bancorp, Inc.'s Current 
Report on Form 8-K filed on or about March 18, 1999. It should be noted that we
have not audited any financial statements of First Home Bancorp, Inc. and 
subsidiaries subsequent to December 31, 1997 or performed any audit procedures 
subsequent to the date of our report.









                                                         /s/ Arthur Andersen LLP
Philadelphia, Pennsylvania
 March 16, 1999