Santander Expands UK Leasing Business through Strategic Move

Santander is expanding its UK leasing business through a strategic move. This move is expected to increase the bank's presence in the UK's vehicle leasing market.

The bank has acquired a 30% stake in the leasing company, with the option to increase its stake to 100% in the future. This acquisition marks a significant expansion of Santander's leasing business in the UK.

Santander's leasing business has been growing steadily, with a significant increase in the number of vehicles leased in the past year. The bank's leasing business now accounts for a substantial portion of its UK car finance portfolio.

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Santander Consumer Finance has acquired CLM Fleet Management to expand its presence in the UK leasing sector.

CLM Fleet Management has over 40 years of experience managing fleet vehicles for corporate customers. It was previously owned by the Maxxia Group, which bought it in 2013.

The acquisition will allow Santander Consumer Finance to offer an expanded range of leasing solutions to a broad customer base. This includes small business owners who have often been limited in their choices.

With a risk fleet of 55,738 cars and vans, Santander Consumer Finance is well-positioned to become a major provider of company cars in the UK and Europe.

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Santander has acquired CLM Fleet Management to expand its UK leasing business.

CLM Fleet Management has over 40 years of experience managing fleets of cars and commercial vehicles for corporate customers.

This acquisition will allow Santander to offer an expanded range of leasing solutions to a broader customer base.

Adam Harley, Santander Consumer UK's sales director, said acquiring CLM Fleet Management will significantly accelerate their growth strategy in the UK leasing market.

By integrating CLM Fleet Management's expertise and resources with their own, Santander is positioned to enhance their service capabilities.

CLM Fleet Management's CEO, John Lawrence, is excited to support Santander's growth in the UK leasing sector through their comprehensive range of fleet management services.

Santander Consumer Finance is a leading consumer finance bank with a presence in 16 European countries, Canada, and China.

The acquisition of CLM Fleet Management is a key step in Santander's goal of becoming a major provider of company cars in the UK and Europe.

With a risk fleet of 55,738 cars and vans, Santander is well-positioned to make a significant impact in the leasing sector.

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Santander Consumer Finance has extended its partnership with Zenith, the UK's leading independent leasing, fleet management, and vehicle outsourcing business, for at least the next three years.

This extension will see Zenith's fully outsourced solution deliver leasing and fleet management services under the Santander Consumer and a number of vehicle manufacturer brands.

The partnership has already seen rapid growth since its launch in 2015, with the fleet growing from zero to around 55,000 vehicles.

Zenith's knowledge and expertise of the market have been key to Santander Consumer Finance's success, supporting their growth and enabling them to build a strong proposition in a short period of time.

The partnership will facilitate Santander Consumer Finance meeting the growing demands of their customers, intermediary, broker, and dealer partners.

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