- summary:
- Santander reviews banking operations in the United Kingdom – after that? The Spanish banking giant is working to re -evaluate the retail work in the United Kingdom …
Banco Santander re -evaluates its retail banking activities in the United Kingdom, which leads to the new uncertainty in its constant dedication to one of the largest financial markets in Europe. The evaluation reaches twenty years after the Spanish banking giant purchased ABBEY National, a decision that created Santander as a major presence in the street in the United Kingdom.
What drives the strategic review of Santander?
Santander choosing to examine its UK’s operations more closely is not to do isolated from others. The UK’s banking industry deals with a high -level climate, changes in regulations, and the increasing competition from indigenous competitors. Traditional lenders such as Santander have been forced to adapt to changing consumer behaviors, decreased margins, and increase operating expenses.
What does this mean to the UK market
If Santander shrinks its existence, it may open doors for local banks and foreign institutions looking to grow in the United Kingdom. At the same time, potential reorganization can affect many employees and millions of customers who depend on Santander for mortgage, loans and regular banking services.
Currently, the bank has been silent regarding possible results, but investors and observers in the industry will see with interest in calling for the upcoming profits to obtain an additional view of the Santander strategy in the United Kingdom.
