Patagonia Bank, which It belongs to Banco Do Brazil added yesterday to Decreditos, the largest financier for the purchase of used vehicles.
Patagonia specified the purchase of 51% of decredites through its financial company GPat.
This is the leading Argentine company in financing for the purchase of used vehicles, an activity in full recovery in parallel to what happens with zero kilometers.
Banco Patagonia, whose majority shareholder is the Banco do Brazil group, “reinforces its presence in the Argentine market, through its GPAT subsidiary, buying 51% of the capital of Decreditos, for a amount greater than US $ 10 million “the entity reported in a statement.
Decreditos, with more than 20 years of experience, has a commercial network of 4,500 agencies throughout the country. With one 7% market shareis the largest non -financial loan provider at the national level.
According to Marvio Melo Freitas, president of GPAT, “this acquisition means a great growth opportunity consolidating the presence of GPat in the vehicle financing market, adding to its 0KM market positioning the Expertise of Decreditos in the USed car financing ”.
For Oswaldo Parré, president of Banco Patagonia, “this investment in Decreditos will allow us to grow in our customer base, by business volume, enhancing our leadership in the car market,” he said.
The Banco Do Brazil group is one of the most important financial conglomerates in Latin America. According to its executives, it is the beginning of a “new stage of growth in Argentina, and reaffirms the decision to continue positioning us.”