said it hasopened a credit line for franchise businesses worth 1 billion Brazilian reais, Diário Comércio Indústria & Serviçosreported April 11.

Santander aimsto double the numbers of customers in the area by the end of 2016, which currentlyaccounts for 85 Brazilian franchise groups. The bank said it has built a comprehensiveprogram for small and medium-sized entrepreneurs offering products and servicesfor franchise businesses, the publication noted.

As of April 8, US$1 was equivalent to 3.63 Brazilianreais.