'We Like The UK' Says Santander CFO After £2.7 Billion TSB Takeover
July 2, 2025
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9:58Now Playing'We Like The UK' Says Santander CFO After £2.7 Billion TSB Takeover
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as posted by the channelBanco Santander SA agreed to buy Banco Sabadell SA’s UK unit for £2.65 billion ($3.64 billion), a deal that will make it the UK’s third-largest lender by some measures.
The all-cash transaction will see the combined firm serve nearly 28 million customers in the UK, according to a statement by Santander. TSB has about 2% of the UK mortgage market and will also add £35 billion in customer deposits to the £181 billion that Santander UK held at the end of 2024.
The enlarged firm would be the third-largest UK bank by personal current account balances and the fourth-largest by mortgages with a 12% market share, Santander said. That would cement its place as one of the UK’s largest lenders, alongside NatWest Group Plc, HSBC Holdings Plc, Barclays Plc and Lloyds Banking Group Plc.
Banco Santander Chief Financial Officer Jose Garcia Cantera discusses the lender's decision to agree to buy Banco Sabadell SA's UK unit TSB on Bloomberg Television.
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