How Santander's Brazil unit is driving growth with car loans

Published: 11/01/2019
How Santander's Brazil unit is driving growth with car loans
Source: NEWS.YAHOO.COM

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. It has grabbed 25 percent of the market for car loans in Latin America's largest country, in part by extending credit to borrowers shunned by other mainstream banks. There are risks to Santander's strategy, as any used-car veteran will tell

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