Santander unit gets regulatory approval for US$27.8mn capital hike

- Friday, June 10, 2011

Santander unit gets regulatory approval for US$27.8mn capital hike

Brazilian insurance regulator Susep has authorized Santander Capitalização, the savings bond unit of local bank Santander Brasil (NYSE: BSBR), to increase its capital by 44.4mn reais (US$27.8mn), according to official government gazette Diário Oficial da União.

After the increase, Santander Capitalização will have total capital of 324bn reais.

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