Canadian Minister of Finance approves Banco Santander's incorporation in Canada, with OSFI review process remaining.

Canadian Minister of Finance approves Banco Santander's incorporation as a federally regulated financial institution in Canada. Santander Consumer Bank, established in 2015, had already entered the market through auto finance company Carfinco. A year-long OSFI review process, including capital and compliance requirements, remains before the bank can operate in Canada.

August 01, 2024
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