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Banco Santander (Brasil) S.A. (BSBR)

NYSE - NYSE Delayed price. Currency in USD

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5.13

-0.14

(-2.66%)

At close: 04:00PM EDT

5.13

0.00

(0.00%)

After hours:

04:00PM EDT

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Spain's Santander to exit mortgage business in Germany and cut 500 jobs
Spain's Santander will exit the mortgage business in Germany and cut around 500 jobs there by the end of 2026 as part of a process to concentrate on more profitable activities, a spokesperson for the lender told Reuters on Wednesday. Germany has been going through its worst real estate crisis in decades. After years of boom, mortgage lending slowed sharply in Germany after a rapid rise in interest rates to stamp out inflation caused potential homeowners to stay on the sidelines.