The financial firm has just secured banking license to operate in Canada amidst effort into America nations.
Temmy Samuel
Santander S.A secures Canadian banking license
The Banco Santander (S.A)'s Santander Consumer Bank in Canada received an order from the Office of the Superintendent of Financial Institutions to “commence and carry on business” early last month. This development was released to the public on government’s official newspaper over the weekend. An insider from the bank also confirmed the approval but in-depth details about operating plans for Canada hasn't been unveiled. The approval aligns with Santander's expansion push into Americas. It's worth noting that Santander has been in Canada for over 10 years since it bought a car finance company called Carfinco Financial Group. In July 2019, it applied to become a Schedule II bank, which means it would be a Canadian branch of a foreign bank. Santander, legally known as Banco Santander S.A, is a multinational financial services company and largest bank in Spain. The bank was established in 1857, and has grown significantly through acquisition and expansion. It is one of the lar…
About the author
Temmy Samuel
He is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently chasing a BSc degree in Accounting.
