Major UK bank 'considering quitting the country' after two decades on the high street

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Major UK bank 'considering quitting the country' after two decades on the high street

^{Published on 2025-01-20 03:40:56 - MSN}

Major UK bank 'considering quitting the country' after two decades on the high street - Santander already announced it was cutting more than 1,400 jobs across its UK business

Santander, a major Spanish bank, is reportedly contemplating exiting the UK market after nearly two decades of operation, according to sources cited by The Mail on Sunday. The bank, which has been a significant player on UK high streets since its acquisition of Abbey National in 2004, has been reviewing its strategy due to the challenging economic environment, including low interest rates and increased competition from digital banks. This potential withdrawal could affect its 19 million customers and 20,000 employees in the UK. Santander has not confirmed these plans but has acknowledged ongoing strategic reviews to ensure long-term competitiveness and profitability. The decision comes amidst a broader context of financial institutions reevaluating their presence in various markets post-Brexit and in response to evolving banking landscapes.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/money/economy/santander-considering-quitting-the-uk-after-two-decades-on-the-high-street/ar-AA1xtRYE ]

N@N

Major UK bank 'considering quitting the country' after two decades on the high street