As part of its commitment to responsible banking, Santander Mexico is taking part in the lending programme for one million small enterprises announced by Mexico's President, making the most of the bank's experience with its Tuiio financial inclusion programme.
Mexico City, 8 April 2020.
Santander Mexico will shortly publish details of a simple and efficient programme for channelling these resources to help small business owners who have suffered a drop in activity due to covid-19 prevention measures, mainly in urban areas, based on a list of beneficiaries determined by the government.
In keeping with its commitment to the community and financial inclusion, Santander will take advantage of its experience with Tuiio, which helps small entrepreneurs - customers with precisely the profile for receiving this official aid - and fosters digital channels.
Santander will respect the characteristics that the Federal Government has detailed for this programme, such as the simple loan model, the interest rate established, the amount of 25,000 pesos per loan and its rapid delivery. The bank has promised not to charge recipients any fees for channelling these loans.
Banco Santander has set up a team to coordinate the operational, regulatory and technical aspects involved in successfully implementing this programme with the authorities.
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ABOUT BANCO SANTANDER MEXICO (NYSE: BSMX BMV: BSMX)
Banco Santander Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero Santander Mexico (Banco Santander Mexico) is one of the largest banks in Mexico. It offers a wide range of financial services and products, including retail and commercial banking and banking for individuals, financial advisory services and other investment activities. Banco Santander Mexico provides a financial services platform for the middle and upper segments of the population and small and medium-sized enterprises. It also provides end-to-end financial services for major multinational companies in Mexico. At 31 December 2019, Banco Santander Mexico had total assets amounting to 1,411,000 million pesos and had more than 18.1 million customers. With headquarters in Mexico City, the company operates 1,402 branches around the country and has 19,975 employees.