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Banco Santander, S.A. Message Board

nero2005 1 post  |  Last Activity: Jan 2, 2015 11:02 PM Member since: Jun 16, 1999
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    DOES OIL DROP AFFECT SAN

    by aoleck Dec 10, 2014 11:03 AM
    nero2005 nero2005 Jan 2, 2015 11:02 PM Flag

    Santander sold its Venezuelan banking unit to the Venezuelan government for $1.05 billion in 2009 -- ending Santander's ties to Venezuela. Santander does a lot of business in Brazil, where the government has been subsidizing oil prices for many years. Today's low oil prices will likely end Brazil's subsidies and help their economy -- good for Santander.

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