Santander Mexico buys $300 mln of Scotiabank Mexico consumer loans

Tue Nov 25, 2014 5:56pm EST
 
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MEXICO CITY Nov 25 (Reuters) - Santander's Mexico arm has agreed to buy around 4.1 billion pesos ($299.78 million) worth of consumer loans from Scotiabank's Mexico unit , the company said on Tuesday.

Grupo Financiero Santander Mexico said that 97 percent of clients in the portfolio were in the "attractive" medium- to high-income category.

A spokesman for Santander Mexico said the bank did not disclose the terms of the deal.

(1 US dollar = 13.6765 Mexican peso) (Editing by Richard Chang)