Banco Santander probes the purchase of Credit Suisse’s business

The Swiss group Credit Suisse has put up for sale its property business in Latin America, including Colombia and Mexico , wanting to keep Brazil. One of the banks to which it has offered the operation is Santander , according to Bloomberg . However, the Spanish bank declines to make any statements in this regard.

The financial group is always open to looking at purchase options. In fact, Citi put its business in Mexico , which operated under the Banamex brand, up for sale in January, and Santander submitted an offer for it. However, Citi rejected the offer this summer and the Spanish financial group withdrew from the operation.

Last July, Credit Suisse appointed Ulrich K├Ârner as its new CEO and announced a strategic review that it would provide more details about during the presentation of results for the third quarter of 2022. Credit Suisse avoided commenting on the possible sale of the business in Latin America. and referred to what was communicated in July.

“We have said we will update on the progress of our comprehensive strategic review when we announce our third-quarter results. Commenting on any potential results before then would be premature,” he noted.

Presence in the markets
Banco Santander already has a presence in both Mexico and Colombia. In fact, in the Aztec country it occupies the second position by market share ( BBVA occupies the first) with a volume of assets close to 87,500 million euros, at the end of the first half of the year.

The bank has 5.7 million digital customers, of which more than 4 million are linked. In addition, it has 28,200 employees in the country and more than 1,300 branches. In Colombia, on the other hand, it has a much smaller presence.

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