Santander news
Main Santander products:
- current accounts
- credit cards
- loans
- mortgages
- investments
- pensions
- savings
- ISA's
- child trust funds
Website: Santander
Latest Santander News:
Santander urges current account review
by Gill Montia
Story link: Santander urges current account review
Santander is challenging the lethargy that underlies the reluctance of Britons to save money by switching bank accounts.
Research from the Spanish banking giant indicates that 70% of UK adults (or over 34 million people) have not switched their main current account since 2000.
Furthermore, 74% of those questioned said they had no plans to review their [...]
Santander broadens eligibility for ZERO current account
by Gill Montia
Story link: Santander broadens eligibility for ZERO current account
Santander is extending the scope of its much publicised ZERO current account.
The fee-free account was launched in January for those with a Santander mortgage and from 8th March, it will also be available to those holding a Santander investment product, or prepared to set one up.
The bank reckons around 2.5 million customers who already have [...]
Santander considers flotation of UK business
by Gill Montia
Story link: Santander considers flotation of UK business
Santander is reported to be considering selling a stake in its UK operations.
The bank, which is in the process of rebranding Abbey, Alliance & Leicester and Bradford & Bingley (B&B) to the group name, is understood to be looking at a London listing, along with other fundraising options.
Abbey was acquired by the Spanish banking giant [...]
Santander UK profit up 55%
by Gill Montia
Story link: Santander UK profit up 55%
Banco Santander has met its 2009 target, with attributable ordinary profit of €8.943 billion (up 1% on a year earlier).
Revenues rose 18% and the group says it continues to progress in its geographical diversification.
Continental Europe contributed 48% of group profit (Spain accounts for 26%); Latin America, 36% (Brazil accounts for 20%); and the UK 16%.
However, [...]
Santander commences Abbey and B&B rebranding
by Gill Montia
Story link: Santander commences Abbey and B&B rebranding
Today (January 11th) marks the beginning of Santander’s rebranding of its UK operations.
Abbey and Bradford & Bingley (B&B) will both assume the group name in the initial phase of the exercise, with Alliance & Leciester (A&L) coming on board later in the year.
All three began life as building societies; Abbey was acquired by the Spanish [...]
Santander waives Spanish ATM fees for Abbey customers
by Gill Montia
Story link: Santander waives Spanish ATM fees for Abbey customers
From next week, Abbey and Bradford & Bingley (B&B) current account holders will be able to use Santander’s ATMs in Spain, at no charge.
The move means customers withdrawing money in Spain will avoid cash handling fees of 1.5% and foreign exchange fees of 2.75% of the amount withdrawn.
Santander is in the process of rebranding its [...]
Abbey technical glitch delays payday
by Gill Montia
Story link: Abbey technical glitch delays payday
Abbey has been hit by an overnight technical glitch that means thousands of customers have failed to have their accounts topped up with BACS payments that include salaries and benefits.
The bank has promised that it is doing all it can to get the payments through and will honour direct debits and standing orders on affected [...]
Santander Zero “Best European Credit Card”
by Gill Montia
Story link: Santander Zero “Best European Credit Card”
Santander Zero has been named “Best European Credit Card” in the Service Category at the 2009 Oscards.
The awards, which recognise innovation and excellence within the credit card industry, attracted 500 entrants – 64 of which were short-listed across five categories.
Director of Santander Cards, Emma Roberts, said: “In such a tough category, with entries from [...]
Santander named Global Bank of the Year
by Gill Montia
Story link: Santander named Global Bank of the Year
Banco Santander has been named Global Bank of the Year at the 2009 Banker magazine’s Bank of the Year Awards.
The accolade celebrates the achievements of the most innovative, dedicated, creative, resilient and ambitious banks in different regions of the world, including central and eastern Europe, Asia, The Americas, Africa and the Middle East.
Santander was applauded [...]
Santander to launch “Zero” current account for mortgage borrowers
by Gill Montia
Story link: Santander to launch “Zero” current account for mortgage borrowers
Santander is launching a “Zero” current account at the beginning of next year, to coincide with its rebranding of Abbey, Bradford & Bingley and Alliance & Leicester to the group name.
Customers going into the red, either authorised or unauthorised, will not be charged a fee and will pay interest at a market-leading rate of 12.9%.
In [...]
Santander Q3 profit level as Abbey surges ahead
by Gill Montia
Story link: Santander Q3 profit level as Abbey surges ahead
Banco Santander, which owns Abbey, Alliance & Leicester and Bradford & Bingley, has reported attributable profit of €2.2 billion for the third quarter of 2009.
The performance came in level with a year earlier, leaving the group on track to achieve its earnings target of €8.8 billion by the year end.
Provision for bad debt and impairments [...]
Lloyds no longer among world’s 50 safest banks
by Gill Montia
Story link: Lloyds no longer among world’s 50 safest banks
Lloyds Banking Group shares came under pressure yesterday on the news that the group has not appeared in the 2009 list of the world’s 50 safest banks, Lloyds TSB having taken sixth place in the 2008 list, as prepared by Global Finance Magazine.
The disastrous merger of Lloyds TSB and HBOS has left the group 43% [...]
Which? exposes banks’ online security blunders
by Gill Montia
Story link: Which? exposes banks’ online security blunders
Which? Computing has been highlighting the gaps in security that put online banking customers at risk.
According to the consumer group, standards vary widely and some High Street names have been found wanting.
For example, when it comes to log-in procedures, Abbey and Halifax have far to go; First Direct, Lloyds TSB, Nationwide, NatWest and RBS qualify [...]
Spanish banks hiding losses: report
by Gill Montia
Story link: Spanish banks hiding losses: report
In its recently published report, Variant Perception argues that Spanish banks are hiding their losses by “not marking their real estate loans to market” and “extending credit to zombie construction companies”.
The firm, which describes itself as a “distinctive and original voice in economic analysis”, estimates that loans outstanding with Spanish developers have increased from [...]
Santander to repurchase €16.5bn of debt
by Gill Montia
Story link: Santander to repurchase €16.5bn of debt
Santander is offering to buy back its debt at discount prices.
The Spanish bank, which owns Abbey and Alliance & Leicester, says it will purchase asset-backed bonds with a face value of €16.5 billion, paying between 61 cents and 95.5 cents on the euro.
The deal relates to 27 different series issued by specific securitization funds managed [...]
Abbey chief joins Bank of England Court
by Gill Montia
Story link: Abbey chief joins Bank of England Court
Three new non-executive directors have been appointed to the Bank of England Court.
The new members are: António Horta-Osório, Abbey National plc chief executive; Mark Tucker, the outgoing group chief executive of Prudential and Harrison Hurst Young, non-executive director of the Commonwealth Bank of Australia.
All have been invited to serve a term of three years.
Reappointed directors [...]
Santander to rebrand UK banks
by Richard Kilner
Story link: Santander to rebrand UK banks
The BBC has reported that Banco Santander, the Spanish banking giant which has weathered the recent financial turmoil better than many of its rivals, is to rebrand its UK High Street banks.
The move has been made due to Santander’s policy of a single brand, and will mean that customers of its UK banks will be [...]
Abbey National and A&L credit ratings downgraded
by Gill Montia
Story link: Abbey National and A&L credit ratings downgraded
Moody’s has downgraded the credit ratings of Alliance & Leicester (A&L) and leading mortgage lender, Abbey.
The firm has reassessed the Santander-owned banks, plus a number of UK building societies, on the basis that the UK property market will see a peak-to-trough fall of 40%.
According to Moody’s, there are concerns that the lenders involved do not [...]
Abbey disbands panel of local solicitors
by Gill Montia
Story link: Abbey disbands panel of local solicitors
The BBC has reported that Abbey has disbanded its panel of 7,000 local solicitors, blaming the slowdown in the property market for the move.
The law firms involved have previously handled Abbey’s interest in the conveyancing process when they act for house purchasers who have obtained mortgages from the bank.
Typically they have been responsible for ensuring [...]
A&L posts £1.3bn loss
by Gill Montia
Story link: A&L posts £1.3bn loss
Santander-owned Alliance & Leicester (A&L) has posted a loss of £1.3 billion for 2008, compared with a profit of £399 million a year earlier.
The bank, which was acquired by the Spanish group last October and subsequently merged with UK subsidiary Abbey, reported that bad debts rose to £873 million last year.
As a result the proportion [...]
