Santander keeps plans to bolster Argentina consumer finance division

Banco Santander SA will not change plans to boost its consumer finance unit in Argentina despite the results of presidential elections. The head for South America, Sergio Rial, who oversees the Andean region, Argentina, Uruguay and Chile said that the bank would re-launch its consumer unit in Argentina, saying it might offer the highest upside for the bank in South America. In the first nine months of 2019 Argentina accounted for only 1% of the Spanish group’s total profit, but according to Banco Santander CEO Jose Antonio Alvarez said the see solid growth in South America despite political uncertainty.

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Source: Reuters

Categories: Business