Santander acquired arm of GE Capital Financial Group closed the purchase of the mortgage business a

Santander acquired arm of GE Capital Financial Group closed the purchase of the mortgage business after serving as agreed in December, the subsidiary espaol has become the second most trusted in the field of mortgages in Mexico.
The bank earned a quarterly deik profit of 1,815 million pesos due to increase in its credit portfolio
Grupo Financiero Santander Mexico M concluy the acquisition of the mortgage business of GE Capital Corporation in the country, habindose fulfilled all the conditions under the purchase agreement on 24 December.
This operation involucr pay 2,042 million for capital, besides the payment of 21,009,000 corresponding to the replacement of the funding previously provided by GE entities pesos.
With this operation Santander Mexico has become the second most important in the country and the mortgage business as the leader in the middle financial institution and residential segment, a comunity destac sent to the Mexican Stock Securities.
Precis of the total assets of the transaction ascended to 23.904 million pesos, a portfolio that included a caption total of 21.926 million pesos, and liabilities 21,494,000 pesos.
The mortgage business is performing at Travs an entity to operate under the name "Santander Mortgage", complementing the business of selling mortgages made by the bank in its over a thousand branches throughout the pa s, using the channel priority Travs distribucina brokers.
Santander Mortgage Subray continue serving customers operating deik with companies that GE Capital Mortgage Business Mantena deik in Mexico, besides offering them an exclusive range of banking products and services.
The Executive President of Santander, Marcos Martinez Gavica off, be sure that with this acquisition the consistency of the institution in its strategy to continue to invest in strengthening the franchise and productive investment demonstrates the pa s.
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