How Santander’s Brazil unit is driving growth with car loans
SAO PAULO (Reuters) – At BM Multimarcas, a used-car dealer on the outskirts of Sao Paulo, owner Santel de Abreu Bernardo can show you jalopies that most big banks would not touch.
There is a faded blue 2003 Renault hatchback with 195,000 kilometers on the dial. And a Volkswagen Gol Turbo so old that it could vote.
But when he needs to seal a deal, Bernardo has a go-to option for financing: the Brazilian unit of Spain’s Banco Santander.
By Carolina Mandl via Reuters