Santander to invest $6 bln in digital transformation in Latin America

Spain’s Santander (SAN.MC) will invest around $6 billion between 2022 and 2024 to promote digital transformation of its Latin American operations, the bank said in a statement on Wednesday.

Santander’s diversification overseas, especially in Latin America, has helped the bank cope with tough conditions for lenders in Europe in the years since the financial crisis.

It hopes that expanding in emerging economies will help it deliver faster growth than its core markets in Europe of Spain and Britain.

Santander has previously said it invests around $5.6 billion in technology per year as a group.

Reporting by Jesús Aguado; editing by Andrei Khalip via Reuters

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