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Retail banks are usually known as High street banks as they traditionally had multiple branch locations in the cities and towns across the UK. However 40% of branches closed between 2012 and 2022 . [8] Four British retail banks have never had a physical branch presence. The retail and commercial banking markets are dominated by five big banks ...
On 9 March 2010, Santander sold the investment and asset management business James Hay to IFG Group for £35 million. [20] Later in the year, it was confirmed on 4 August that Santander intended to purchase the branches of The Royal Bank of Scotland in England and Wales, and the branches of NatWest in Scotland as part of a divestment of the business by The Royal Bank of Scotland Group. [21]
In July 2008, the group announced it intended to purchase the UK bank Alliance & Leicester, which held £24 billion in deposits and had 254 branches. [19] Santander also purchased the savings business of Bradford & Bingley in September 2008, which held deposits of £22 billion, 2.6 million customers, 197 branches and 140 agencies. [ 20 ]
On 11 January 2010, the combined business of Abbey and the Bradford & Bingley branch network was renamed Santander UK, and all branches were rebranded at a cost of £12 million. [22] Alliance & Leicester was rebranded at the end of November 2010. [23] On 25 January 2010, the European Commission approved the state aid given to the bank. [24]
The Santander Group announced in May 2009 that Abbey and the Bradford & Bingley branch network would be renamed under the Santander brand on 11 January 2010. Credit cards issued by Abbey were the first to change to Santander. [ 1 ]
Abbey (previously Abbey National), now Santander UK; Alliance & Leicester, now Santander UK; Bradford & Bingley, savings and branch network now Santander UK; mortgage and loans books nationalised by HM Government; Britannia, now part of the Co-operative Bank; Cheltenham & Gloucester, savings and branch network now TSB Bank; mortgage and loans ...
Santander Bank branch footprint in the eastern United States Santander Bank, Summer Street, Boston, United States See also: Banco Santander § History Santander Bank, N.A., was founded on October 8, 1902 as Sovereign Bank, a savings and loan in Wyomissing, Pennsylvania .
Acquired by Banco Santander, which also owns Abbey, in October 2008, and merged into Santander in 2010. Bristol and West: taken over by: Bank of Ireland: 1997: Became a division of Bank of Ireland but its savings balances and branch network transferred to Britannia Building Society in 2005 (which in turn merged with Co-operative Financial ...