Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Amazon apologises to customers impacted by huge AWS outage
    • Rep. Katherine Clark FUMES After Press Secretary Quotes Her OWN Words on Tape — Tries to Walk Back Admission That Democrats Are Exploiting Schumer’s Shutdown and Americans’ Suffering for Political Leverage | The Gateway Pundit
    • China state oil majors suspend Russian oil buys due to sanctions: Sources
    • UK police arrest three men on suspicion of spying for Russia | Russia-Ukraine war News
    • ‘Vibes’ around LeBron James concerning for Lakers
    • If drug users lose their gun rights, alcohol drinkers should too
    • Portland Trail Blazers coach Chauncey Billups charged in illegal poker operation tied to Mafia: Sources
    • London Press Club Awards 2025: Sir Don McCullin and Jeremy Bowen scoop top prizes
    Prime US News
    • Home
    • World News
    • Latest News
    • US News
    • Sports
    • Politics
    • Opinions
    • More
      • Tech News
      • Trending News
      • World Economy
    Prime US News
    Home»World News»Santander’s potential UK exit sparks concern among customers
    World News

    Santander’s potential UK exit sparks concern among customers

    Team_Prime US NewsBy Team_Prime US NewsJanuary 21, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Santander is reportedly contemplating leaving the UK after seeing decrease returns from its British banks.

    The Spanish financial institution is contemplating a “variety of choices” for its UK arm after twenty years on the excessive avenue, in keeping with the Financial Times.

    Scaling again Santander’s enterprise in Britain is one in every of a number of choices, the FT’s sources stated, however no deal or announcement was imminent.

    Santander has since responded to the reviews. It stated: “The UK is a core marketplace for Santander and this has not modified.”

    It has since been reported that senior managers have been despatched memos detailing how they need to take care of involved clients who’ve heard reviews concerning the financial institution leaving the UK.

    The chief govt of Santander’s UK company and industrial financial institution, John Baldwin, is known to have despatched out the memo outlining how to reply to shoppers and its 21,000 UK employees.

    The inner word to senior managers stated that if anybody requested “is it true that you’re reviewing your presence within the UK?” bosses ought to reply by saying that Santander executives “evaluate strategic priorities in all our markets yearly. That is a part of enterprise as traditional.”

    If requested the query is Santander “planning to exit the UK”, bosses have been suggested to answer: “The UK is a core marketplace for Santander. This has not modified. We stay targeted on delivering our strategic priorities and persevering with to serve our 14 million clients within the UK.”

    The memo provides: “I belief that that is useful and reinforces the financial institution’s place, must you be requested.”

    Why may Santander be leaving?

    It has been stated bosses have “frustrations” with the price of working within the UK and the “excessive price bases” of a excessive avenue presence, resembling rents, in addition to with the UK’s ring fencing regime.

    Ring fencing got here absolutely into power in January 2019 in response to the worldwide monetary disaster and required UK banks to have separated core retail banking companies from their funding and worldwide banking actions. The Bank of England stated it was “designed to extend the steadiness of the UK monetary system and stop the prices of failing banks falling on taxpayers”.

    These guidelines apply within the UK and never in different European nations.

    Santander within the UK is uncovered to British curiosity and banking charges, and Spanish-based bosses are stated to be sad that UK branches haven’t benefited “from rising rates of interest in recent times as a lot as its different markets like Spain”, in keeping with a former govt quoted within the FT.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleTikTok creators mourn app where ‘overnight’ success is possible
    Next Article 2 Americans freed from Afghanistan in prisoner swap, family and Taliban say
    Team_Prime US News
    • Website

    Related Posts

    World News

    London Press Club Awards 2025: Sir Don McCullin and Jeremy Bowen scoop top prizes

    October 23, 2025
    World News

    AWS outage: All the services affected as Amazon Web Services disruption sparks global chaos

    October 20, 2025
    World News

    UK’s ‘growing problem’ of fake weight loss drugs: Expert sounds alarm

    October 17, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Most Popular

    Royals manager provides injury update on Salvador Perez

    May 2, 2025

    What is Just Stop Oil? Protesters charged after Theatre Royal play disrupted

    January 30, 2025

    N Korea made millions from remote work scheme, US says

    January 4, 2025
    Our Picks

    Amazon apologises to customers impacted by huge AWS outage

    October 23, 2025

    Rep. Katherine Clark FUMES After Press Secretary Quotes Her OWN Words on Tape — Tries to Walk Back Admission That Democrats Are Exploiting Schumer’s Shutdown and Americans’ Suffering for Political Leverage | The Gateway Pundit

    October 23, 2025

    China state oil majors suspend Russian oil buys due to sanctions: Sources

    October 23, 2025
    Categories
    • Latest News
    • Opinions
    • Politics
    • Sports
    • Tech News
    • Trending News
    • US News
    • World Economy
    • World News
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Primeusnews.com All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.