Banco Santander SA received clearance from the Peruvian banking regulator to acquire more than 37.3 million shares of Edpyme Santander Consumo Perú SA from SKBergé SA, Banco Santander Perú SA said in a securities filing.

The purchase will allow Santander to increase its direct ownership in the financing company, an auto loan provider, to 99.99% from 55%.