Why did Santander stop producing mortgages and housing in the US?

to me First Quarter Report from Santander Groupaffiliated with it in the United States They will stop producing mortgages and homes for an unspecified period of time. The statement stated:Santander United States halts production of mortgage and housingAnyway, what is the purpose of this recent decision by the bank?

First of all, the North American written executive summary identifies that Santander research Accelerating Profitable Growth in the United States. This is achieved by unifying this regional perspective, While the company is benefiting from itself in the areas of opportunity in each country. This will provide a total value proposition that is strong enough to enhance customer prospects, while excluding mortgage and home production.

The latter means that this bank will look for a Simplify the business model in the region to contribute to the generation of a more efficient field. In this sense, the Mortgages and housing are not a profitable enough business to sign. Santander will search”They focus their efforts on digital products, services, and capabilities with the greatest growth potentialexplains the document.

Part of this strategy, which rejects the production of mortgages and housing, focuses on Strengthening the trade corridor between Mexico and the United States. This is because many companies will deepen their relationships with various clients in this way. With this type of initiative, more income growth that is capable of producing more capital in the short term (eg business) will be sought.

In addition, Santander will stop producing mortgages and housing for Enhancing and retaining economic attractiveness thanks to specific linkage strategies with the Bank. in this way, The offer of services and products offered will be expandedwhich could boost economic growth in North Amarica. “also We take advantage of those companies that have proven success and improve interactions to increase bonding‘, the report adds.

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In short, strategy Santander in North America To face the post-pandemic period will be the main reason for Abandon the production of mortgages and housing. Which is that, by not having such an accelerated production of capital, Santander would have dispensed with these. This is in front of Economic Outlook In general, doubts remain on its way.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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