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Investing.com -- Banco Santander SA (NYSE:SAN), Spain’s largest bank, has obtained a Canadian banking license, marking a significant step in its ongoing expansion across the Americas.
The Office of the Superintendent of Financial Institutions, Canada’s banking regulator, issued an order for Santander Consumer Bank to commence operations last month. The official announcement was made in the government’s official newspaper over the weekend.
A spokesperson for Santander confirmed the acquisition of the Canadian banking license with Bloomberg, but did not provide further details regarding the bank’s future plans in Canada.
In addition to its latest move into Canada, Banco Santander (BME:SAN) has been actively expanding in the US and Mexico. The bank has been increasing its workforce in the US and launching a new digital bank both in the US and Mexico. Last month, Chairwoman Ana Botin stated that the bank’s focus will remain primarily on the Americas.
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