November 1, 2017 / 8:38 PM / 21 days ago

Santander's Brazil unit to expand in trading, credit for agribusiness

SAO PAULO, Nov 1 (Reuters) - Banco Santander Brasil SA will offer hedging contracts and expand its loan book to Brazilian commodities producers, as the bank tries to grab market share in the booming sector, a bank executive told Reuters.

Carlos Aguiar, responsible for the bank’s agribusiness segment, said Santander plans to extend finance trading transactions in commodities futures and to offer hedging contracts directly to producers.

The Brazilian unit of Spain’s Santander SA aims to double its agribusiness loan book in the country in the coming years. It reached a 4 percent market share this year, up from 3 percent a year ago.

Reporting by Roberto Samora and José Roberto Gomes; Writing by Tatiana Bautzer

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