Santander Perú Strengthens Consumer Finance with CrediScotia Acquisition
Deal News | Mar 05, 2025 | Aim Group
Santander Perú, a subsidiary of the Spanish banking giant Santander, has successfully completed its acquisition of CrediScotia Financiera. This strategic move is intended to bolster Santander Perú's standing in the consumer finance sector within the country. According to a statement from Juan Pedro Oechsle, the CEO and country head at Santander Perú, the acquisition represents a commitment to expanding the bank's presence in Peru's consumer finance market. The acquisition will see the integration of CrediScotia’s operations and workforce into Santander Perú, enhancing the offerings in vehicle loans, consumer financing, and deposit-taking within the Digital Consumer Bank business. Additionally, Santander Perú holds a significant stake in NeoAuto, a major automotive marketplace in Peru, indicating a solidification of its consumer finance capabilities.
Sectors
- Banking and Financial Services
- Automotive Marketplace
Geography
- Peru – The primary geography of the article, as it discusses Santander Perú's activities and acquisition in the Peruvian market.
- Spain – Relevant as Santander Perú is a subsidiary of Spain-based Banco Santander.
Industry
- Banking and Financial Services – This industry is relevant as Santander Perú and CrediScotia Financiera operate in the banking and financial services sector, specifically focusing on consumer finance and commercial banking services.
- Automotive Marketplace – Relevant due to Santander Perú’s involvement and majority shareholder position in NeoAuto, an automotive marketplace in Peru.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Santander Perú | Acquirer | Company | A Peruvian commercial bank, subsidiary of Banco Santander, focusing on consumer finance and vehicle loans. |
| CrediScotia Financiera | Target | Company | A Peruvian financial entity providing consumer finance solutions, now acquired by Santander Perú. |
| Juan Pedro Oechsle | CEO and Country Head | Person | CEO and country head at Santander Perú. |
| NeoAuto | Automotive Marketplace | Company | A leading automotive marketplace in Peru, majority-owned by Santander Perú. |