Santander Consumer Bank was originally established in Oslo, Norway, in 2001 by four individuals; Tor Erland Fyksen, Jan Grenth, Eirik Holtedahl, and Raimond Pettersen, having raised approx. USD 20 million from Norwegian investors. Its customer base was sold to a Spanish financial institution in Spring 2005 for 435 million kr (ca. US$70 million), and the name was changed from Bankia Bank to Santander Consumer Bank.
It specializes in offering deposit accounts and credit cards to consumers, focusing on issuing VISA credit cards.
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