1344 GMT - Spain's Santander hasn't specified what its strategy in Canada could be but its other international markets provide insights on how it might proceed, Morningstar DBRS says in a note. Canada's regulator allowed Santander Consumer Bank to start and carry on business in early March. The lender already has car-financing operations in the country. "The bank's strategy is likely to focus on specific niches, leverage Santander's global expertise in consumer/retail financing, and incorporate significant use of digital technologies, not unlike its current approach in the U.S. and Mexico," analyst Sailie Ashtekar writes. However, any pursuit of a stronger foothold in Canada's banking scene will need long-term commitments and realistic expectations given it is a competitive market, she says. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 09:44 ET (13:44 GMT)
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