Santander Brasil in talks with Bonsucesso to grow in payroll loans
SAO PAULO, July 30 (Reuters) - Banco Santander Brasil SA , the nation's largest foreign bank, is in talks with domestic mid-sized lender Banco Bonsucesso SA amid efforts to grow the former's presence in payroll-deductible lending.
In a securities filing on Wednesday, Santander Brasil, the local unit of Spain's Banco Santander SA, said no binding document has been signed yet with Bonsucesso. "Santander is analyzing alternatives to strengthen its presence in that payroll credit segment and, thus, is in negotiations with Bonsucesso," the filing added.
A source told Reuters on Tuesday that Santander Brasil could form a joint venture with Bonsucesso to expand in payroll-deductible lending. (Reporting by Guillermo Parra-Bernal, Editing by Franklin Paul)
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