Santander celebrates record profits on its 10th anniversary

Santander celebrates record profits on its 10th anniversary

Santander Consumer Bank has been on the Austrian market for ten years. To mark the anniversary, Austrian CEO Olaf Peter Poenisch presents a record profit: The bottom line is that the bank earned 42.9 million euros after taxes in 2018 (plus 4.8 percent compared to 2017) - making it the most profitable year since entering the market. The core business of Santander Consumer Bank in Austria is goods financing, car and motorcycle financing as well as installment loans, which can be taken out in the branch or online. In 2018, new business in these segments amounted to 1.74 billion euros. This is an increase of 13.5 percent compared to 2017. Savings deposits increased by 18.1 percent to 1.48 billion euros. The bank has therefore grown in all business areas.

Motor vehicle financing: over 1 billion euros in new business for the first time

In the motor vehicle business, Santander Consumer Bank exceeded the billion euro mark for the first time: in 2018, it processed 1.097 billion euros (plus 16.0 percent compared to 2017) in vehicle loans and leasing financing. The strong growth comes largely from the used car and leasing business. A total of over 73,000 vehicles were financed in 2018. The average financing was around 15,000 euros with a term of 54 months. Santander Consumer Bank works with around 1,500 dealers in the automotive sector and cooperates with renowned car and motorcycle manufacturers such as Kia, Volvo, Suzuki, Harley-Davidson, KTM and Husqvarna. The financial institution is Austria's largest brand-independent vehicle financier.