Santander collects 66% of customers who finance mobile phones in Italy and more Latest news here
Santander managed to increase the loan contract for the acquisition of mobile phones and other technological equipment in Italy by 66% in just six months. Following this growth, the unit has already financed one million customers for the purchase of this type of equipment. Agreements signed with Telecom Italia for more than two yearsFor which he also sells telephone insurance.
Data seen by The Objective, Transalpine reveals a considerable acceleration of this activity in the country, where Santander operates mainly through its consumer division, now integrated into a digital banking franchise. In the first six months of this year, the Spanish conglomerate managed to convince 400,000 other users of the operator to formalize a loan or a policy. Last December, there were 600,000.
The alliance between the two groups is expressed through a common company, Timfin., thanks to which 25 million Telecom Italia customers have access to financing for the purchase of mobile phones in its 5,700 points of sale. Cantabrian Bank holds 51% of the company’s capital, while 49% is in the hands of Transalpine Firm.
Santander bets on the Transalpine Country with an alliance
Italy has become a market for SantanderFor BBVA, which has launched its online subsidiary to begin providing products and services at the end of 2021. However, this is not yet a significant area for either and the company as a whole is contributing .
This year, in this strategy of trying to carve out a relevant niche, Santander has reached agreement with PiaggioHowever, this agreement extends to other European countries. From January, the bank will provide loans and solutions for the purchase of motorcycles from manufacturers of Vespa, Aprilia and Derby in Italy. The alliance would then begin to operate in Spain, France and Germany as well. Throughout this exercise, joint venture It will be launched in Austria, Belgium, the Netherlands, Greece and the United Kingdom.
The two deals with Telecom Italia and Piaggio are part of Santander’s powerful consumer division, which This year strengthened its alliance with Stelantis Group created after the merger of PSA with Fiat Chrysler for Italy and other continental countries. Santander intends to increase the vehicle acquisition loan portfolio of this manufacturer to 33% by 2026.
Santander has only one agreement with Telecom Italia with only one operator. The rest of the alliances focus on the automotive supply segment. The combination with ‘Teleco’ aims to take advantage of the higher margins offered by mobile loans and to broaden the diversification of the activities. Spain also has a joint venture with the English court.
Financing the purchase of mobile phones is an area that has been explored by various entities having agreements with operators. For example, in Spain, caxabanque partner for many years telephone, setelem (from French BNP Paribas) is masmoviluYou Orange To do this, he also launched his own unit to offer other core services and products.
The Cantabrian Group is present in 16 European countries through the financial company and OpenBank.Excluding China and Canada. In Italy, thanks to the alliance with TI, it is a . controls 8% market share And there is another group of consumer loans. overall you have9,700 million wallets.
According to its latest figures, at the end of June, the new digital division had more than 19 million credits and other contracts with 19 million customers across Europe, China and Canada. More recently, it also expanded its presence in Argentina through this division by launching OpenBank.
Despite a supply crisis and a slowing economy due to rising inflation and tensions in the energy market following Russia’s invasion of Ukraine, Santander is confident that its consumer business will do well. In the first half, this activity grew by 3.6%, reaching a financial balance of 119,000 million.
Santander collects 66% of customers financing mobile phones in Italy and the latest news
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