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 admits to customer service failing
by Gill Montia
Story link: Santander admits to customer service failing
Santander has issued a formal apology to UK customers who have experienced poor levels of service.
The Spanish banking group, which has undertaken a spate of acquisitions in the UK in recent years (namely Abbey, Alliance & Leicester and Bradford & Bingley’s savings book) has admitted to basic failures in setting up accounts and processing customer [...]
Santander to acquire 318 branches from RBS
by Richard Kilner
Story link: Santander to acquire 318 branches from RBS
Spanish banking giant Banco Santander is to acquire 318 branches from Royal Bank of Scotland Group (RBS), for an estimated cost of £1.65bn (around €1.99bn), lower than the £2bn RBS had been hoping for.
The deal is expected to be concluded in 15-18 months, subject to the necessary regulatory green lights.
Santander will acquire 311 RBS branches [...]
Santander to create 600 UK jobs
by Gill Montia
Story link: Santander to create 600 UK jobs
Santander is to create 600 new jobs in the UK, in a recruitment drive that will support growth across its 1,300-strong branch network.
The Spanish banking group, which owns Abbey, Alliance & Leicester and Bradford & Bingley’s savings business, expects to open one million new accounts in the UK in 2010, having hit the half-million mark [...]
Santander reports quarterly and biannual profits
by Richard Kilner
Story link: Santander reports quarterly and biannual profits
Banco Santander has released its financial results for the first six months and second quarter of 2010.
In the first six months the Spanish banking giant made net income of €4.45bn, down 1.6% from the same period last year, with pre-tax profits recorded at €6.3bn.
However, in Q2 Santander enjoyed net profits of €2.23bn, the largest quarterly [...]
Santander to enhance position in Germany
by Richard Kilner
Story link: Santander to enhance position in Germany
Banco Santander and Skandinaviska Enskilda Banken (SEB Group) have agreed a deal whereby Santander Consumer Bank AG will acquire SEB Group’s retail banking business in Germany.
The agreement is expected to be completed in 2011, subject to the necessary regulatory approvals.
The deal, thought to be worth around €555m, will double Santander’s network of branches, adding 173 [...]
Santander softens-up on overdraft charges
by Gill Montia
Story link: Santander softens-up on overdraft charges
Santander has followed Lloyds Banking Group in reviewing its charges for both authorised and unauthorised overdrafts.
The group is launching a new current account that replaces interest charges of 12.9% or 19.9%, for customers who have an authorised overdraft, with a daily fee of 50p, up to a maximum of £5 a month.
Those going into the [...]
Santander sole bidder for RBS branches
by Gill Montia
Story link: Santander sole bidder for RBS branches
Santander has emerged as the sole bidder for the 318 branches put up for sale by Royal Bank of Scotland (RBS).
RSB needs to sell the network to appease the EU Competition Commission with regard to its level of taxpayer support.
However, it has until 2013 to make its divestment and Santander is understood to have made [...]
Santander increases stake in Santander Mexico
by Richard Kilner
Story link: Santander increases stake in Santander Mexico
Banco Santander has announced that it has reached an agreement with Bank of America to acquire the 24.9% stake Bank of America presently holds in Santander Mexico, in a deal worth $2.5bn in cash.
After the transaction, which requires regulatory approval and is hoped to be complete within 90 days, is complete Santander will hold a [...]
A&L savers alerted to FSCS changes
by Gill Montia
Story link: A&L savers alerted to FSCS changes
Alliance & Leicester (A&L) customers need to be aware of possible changes to their level of protection under the Financial Services Compensation Scheme (FSCS).
The bank’s parent company, Santander, is in the process of rebranding A&L along with its Abbey and Bradford & Bingley acquisitions, and from 28th May 2010 A&L will no longer hold a [...]
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 [...]
