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Auto Lender's Drive Reaps a Fortune
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In 2006 Banco Santander bought a 90% interest in the Dallas based auto loan company started by Thomas Dundon. The company focusses on the subprime portion of the market. In 2011 Santander sold 24% of the company to private equity firms. Because the subprime portion of the market for auto loans- where buyers get credit scores lower than 660- has recovered, Santander Consumer Holdings SA has seen rapid growth. Most auto buyers continued to make payments on auto loans during the 2008-2010 financial crisis. The auto industry recovered faster than expected and the auto loan originations to subprime borrowers increased to $153 billion in 2013 from $66 billion in 2009, according to Equifax and Moody's Analytics.
Santander Consumer USA Holdings management
01/23/2014
Santander invested $650 million in the Dallas based auto loan finance company run by Thomas Dundon. The auto loan origination business has fared well even after the 2008 financial crisis as auto buyers continued to make payments and the automobile business recovered in 2011-2014.
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Auto Lender's Drive Reaps a Fortune
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Auto Lender's Drive Reaps a Fortune
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Fed Tells Santander’s U.S. Unit to Shape Up
Wall Street Journal 07/08/2015
Santander Consumer USA Names Blythe Masters Chairwoman
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Ana Patricia Botín to Take Over Banco Santander
Wall Street Journal 09/10/2014
Botín's Legacy at Santander Is a Bank That Works Without Him
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Ana Patricia Botín to Take Over Banco Santander
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Santander Consumer USA Holdings strategies
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Grouped Articles
Auto Lender's Drive Reaps a Fortune
Wall Street Journal 01/23/2014
Many Buyers for Subprime Auto Loan Bundle
New York Times 03/15/2015
Fed Tells Santander’s U.S. Unit to Shape Up
Wall Street Journal 07/08/2015
Santander Consumer USA Names Blythe Masters Chairwoman
New York Times 07/15/2015
Banco Santander acquisitions
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Santander's Moves Puzzle Investors
Wall Street Journal 07/01/2010
Auto Lender's Drive Reaps a Fortune
Wall Street Journal 01/23/2014
Ana Patricia Botín to Take Over Banco Santander
Wall Street Journal 09/11/2014
Emilio Botin Who Built Up Santander Bank Dies at 79
New York Times 09/10/2014
Santander’s New Capital Leaves Little Room for Deals
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Ana Patricia Botín to Take Over Banco Santander
Wall Street Journal 09/10/2014
Ana Patricia Botín to Take Over Banco Santander
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Emilio Botin Who Built Up Santander Bank Dies at 79
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Santander performance
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Wall Street Journal 05/12/2013
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Wall Street Journal 07/01/2010
Auto Lender's Drive Reaps a Fortune
Wall Street Journal 01/23/2014
Ana Patricia Botín to Take Over Banco Santander
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Ana Patricia Botín to Take Over Banco Santander
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Emilio Botin Who Built Up Santander Bank Dies at 79
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