General Motors is apparent from its financial
Banco Patagonia kept the local subsidiary of GMAC, a subsidiary of General Motors and specializes in automotive finance the sale of that mark, both dealers and buyers end.
The Patagonia won a tender (organized by JP Morgan) which also allegedly involved Comafi entities such as banks and BST. General Motors decided to divest its subsidiary due to the profound crisis in U.S.
The bank Mile Stuart family paid 23 million pesos to enter the business of credit pledge, a tributary of the financial market which was now absent. Sources said the entity that the intention is to take a significant slice of a business that should be expanded. “The sale of cars with credit fell to 13% of total operations, against a level that was at 25% before the crisis,” they say.
As at 30 June 2009, GMAC has assets of $ 548 million and loans totaling $ 378 million. It has a portfolio of 34,000 clients and over 100 retail points of sale.
The Patagonia has assets of about $ 8.630 billion, loans of $ 3.892 billion and deposits of $ 5.481 million.
