Santander sells TotalBank to Chile’s BCI for $528 million

Banco Santander said on Friday it had sold its U.S. unit Totalbank to Chile’s BCI for $528 million as part of moves to sell non-core assets it inherited when it bought Banco Popular. BCI owns City National Bank of Florida and had been in talks with TotalBank’s former owner Banco Popular before it was acquired by Santander, sources have told Reuters. TotalBank, which has more than $3 billion in assets across 18 branches and employs around 300 people, was acquired by Banco Popular in 2007 for $300 million. Reuters reports.
Mexican private sector sees political uncertainty affecting economic growth
Political uncertainty is the main factor hindering economic growth in Mexico, according to private sector analysts surveyed in November by the Bank of Mexico. The analysts also cited a weaker peso against the dollar, higher inflation and lower oil production as factors that would hit Mexico’s economic growth in the next six months. According to the survey, Mexico’s economy will grow 2.1 percent this year and 2.2 next year. Milenio reports (in Spanish).
Interjet’s expansion strategy pays off
From January to October this year, Mexican low-cost carrier Interjet’s market share (in terms of international passengers flown by Mexican airlines) reached 20.4 percent, according to official data. The figure is 7 percent higher than the same period last year. In recent  years, the airline has gained market share through an aggressive expansion strategy in its destinations outside of Mexico. …

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