Banco Santander is considering floating Santander Consumer USA on the US stock market, as first reported in November 2012.
Last year’s announcement of a possible listing was believed to be part of the efforts by the global banking group to recover from losses in its domestic market of Spain and valued Santander Consumer USA at $6bn (then £3.75bn).
Current plans, however, come on the back of healthy results for Santander Consumer USA’s partnership with Chrysler. Together with a surprisingly strong new car market in the US, which has given a boon to the economy, Santander may value its North American motor finance arm at $8bn (£5.37bn), according to the Wall Street Journal.
Based in Forth Worth, Texas, Santander Consumer USA offers car loans through 14,000 dealers in the States and operates an estimated loan book of $19.5bn.
Further data and analysis of the US motor finance market will be published in the July issue of Motor Finance magazine.
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