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Banco Santander, S.A. Message Board

  • ice_hawk_7 ice_hawk_7 May 15, 2013 6:03 PM Flag

    SAN Buys 20% Stake in Bank of Beijing Consumer Finance Unit

    "MADRID | Wed May 15, 2013 7:34am EDT

    MADRID May 15 (Reuters) - Santander has been authorised to buy 20 percent of Bank of Beijing Consumer Finance Company for 306 million yuan ($49.81 million) via a capital increase, becoming the unit's second biggest shareholder, the Spanish bank said on Wednesday."

    It's a nice "foot in the door' that should facilitate a furtherr entry into the China banking market. It is certainly good to see that SAN continues to expand globally.