Banca March | Santander values its European consumer lending business at 12.8 billion euros, as reported in the newspaper Expansión.
This figure is the result of a corporate reorganization undertaken by the lender in recent months. The bank bought 25% of the capital of Santander Consumer Finance which it did not control directly from one of its subsidiaries. This stake has been valued at 3.193 billion euros which means valuing 100% of the subsidiary at nearly 12.8 billion. This is 1.4 billion euros above its book value and equivalent to just over a third of Santander’s current stock market value (35.737 billion euros). The subsidiary is present in some 15 European markets, and has a loan portfolio of just over 100 billion euros (72% associated with car loans). The bulk of the unit’s investment is concentrated in Germany (35.6%), Scandinavia (15.4%), Spain (15%) and France (12.5%).