Banco Hyundai Capital Brasil successfully consolidated its operations in just five months in Brazil

2019-11-21 20:00 845
  • Hyundai Capital is boosting business through Banco Hyundai Capital Brasil, one of its joint ventures in partnership with Santander Brasil, the largest international bank present in the country.
  • Communication and product strategy adapted to the Brazilian local market
  • Hyundai Capital, a global financial services company with presence in 11 countries worldwide, uses global criteria by which auto finance companies evaluate and standardize their entry into foreign markets

SEOUL, South Korea, Nov. 21, 2019 /PRNewswire/ -- Banco Hyundai Capital Brasil (BHCB), a joint venture between Hyundai Capital, Hyundai Motor Group's financial arm, and Santander Brasil, the largest international bank with presence in our country, it has successfully structured its business in a dealer network of 210 points of sale in less than six months, consolidating its activities and ensuring a stable operation in Brazil.

BHCB commenced operations in May and conducted its business as quickly as necessary for an automaker bank. Agility in developing relationships and presence in the dealership network was one of the key factors for Banco Hyundai Capital Brasil to consolidate its operation.

BHCB's commercial activity was divided into three regions - North/Northeast/Midwest, Southeast and South, and established communication strategies and specific products in each region, taking local characteristics into account. By offering various options in terms of term and interest rates, customers can choose the financial options that best meet their needs.

In line with Hyundai Motor's strategy, which has recently focused on strengthening the Brazilian market, renovating its dealerships and launching the HB20 Nova Geração [new generation], BHCB has been developing custom products for Brazil, including those offering special rates as well as 'Compra Certa Hyundai', a financial product with repurchase guarantee, made available to support the launch of the new Hyundai Motor Brasil vehicle. A Hyundai Capital collaborator comments: "Brazil is a very important place for Hyundai Capital. We will combine the expertise of Hyundai Motor, which has high performance in the world, including Brazil and Santander".

Hyundai Capital is a global financial services company in the auto finance industry, present in 11 countries worldwide. Banco Hyundai Capital Brasil is the 11th global entity created as a joint venture with Santander Brasil. Hyundai Capital has successful partnerships with Santander in the United Kingdom (since 2012), Germany (since 2016) and Brazil (in 2019). Its dynamic strategy of entering new overseas markets is acclaimed based on standardized criteria used to evaluate other auto finance companies. Hyundai Capital's global business strategy can be summarized in three pillars: localization, global partnership and 'Global One Company'.

All of their entities around the world share the same global corporate culture, allowing them to follow in a fair and unified manner to global change. And based on global guidelines, each entity has room to develop its own corporate culture as well as product strategy. This is due to local characteristics and circumstances. Recruitment focuses on nationalization, at Banco Hyundai Capital Brasil 90% of the employees are local talent. As Hyundai Capital grows in more markets, the number of global collaboration programs also grows. An example of this initiative is the 'Purple Project', an important feature of BHCB's corporate culture, which uses purple as a symbol to portray the mix of Hyundai Capital's blue and Santander Brasil's red. 

Cezar Janikian, CEO of BHCB, says: "We are making an effort to create a corporate culture in which our collaborators enjoy fair compensation and produce creative results by combining Hyundai Capital's dynamic and innovative DNA and Santander's value as Simple, Personal and Fair".

Source: Hyundai Capital