Expanding financial inclusion to low-income communities in Brazil
Santander Brazil is the Brazil's third largest privately owned bank, with more than 28 million customers. It is a subsidiary of Banco Santander of Spain, accounting for 26% of the total profit of the group in 2012. The Group Santander has important Microcredit Programs in countries such as Brazil, Chile and El Salvador. In Brazil, the operation has already assisted more than 182,000 customers, being 70% women, has disbursed over US$ 822 million and represents the largest microcredit operation among private banks in the country.
Santander Brazil has joined the Business Call to Action with an initiative designed to scale-up its microcredit offerings and financial education services for micro-entrepreneurs. By 2015, Santander seeks to attain 131,000 microfinance clients and to disburse up to US$ 260 million in microcredit.