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| Date |
06/06/2000 |
| Companies
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BANCO SANTANDER CENTRAL HISPANO - |
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Latin America to make 50% of future BSCH profits |
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Angel Corcostegui, CEO of Banco Santander Central Hispano made it clear that the bank's high investment in South and Central America would continue. He forecast that in the future half of the bank's profit would come from these regions. Currently Latin American profits account for around one third of profits, though are recovering from two previous bad years for the region.
Corcostegui has promised to increase profits in the group by 25% per annum. Since the merger which founded the bank South American purchases and major stakes acquired include:
* Union - Peruvian Pension company
* Banco Meridional
* Patagon.com - Largest Latin American Internet Service Provider
* Grupo Financiero Serfin
* Banco Rio de la Plate (increase of stake)
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