Santander confirms Royal Bank of Scotland branch offer
Spanish giant Santander has today confirmed a potential £1.8 billion for the 318 Royal Bank of Scotland branches which are up for auction. It is believed that Santander is the only firm bidder for the branches despite the fact that a number of parties came forward when the auction process began. The branches are being sold because of an EU ruling in relation to state aid for Royal Bank of Scotland when the company was on the verge of collapse.
Santander has been picking up UK assets for some time now having bought Abbey, Alliance & Leicester and the savings arm of Bradford & Bingley. If the Royal Bank of Scotland offer is successful, as seems likely, the company will have a 14% share of the UK mortgage market and 10% share of the retail savings market. In many ways Santander has been ahead of the game having changed a number of well-known UK brands to the "Santander" brand thereby escaping some of the growing consumer disdain aimed at the UK banking arena.
Many people expect further consolidation in the UK banking sector with the potential for retail banking and investment banking arms to be separated at companies such as Barclays bank.
Let your bank know if you are in difficulty!
As the number of people in serious financial trouble continues to rise in the UK, yet again we are seeing more and more people burying their heads in the sand and hoping everything will be okay tomorrow. Debts are piling up, income is being spent on interest and pressure is building on everyday life for many people in the UK. So why are people still burying their head in the sand and hoping everyt...Read More
Barclays launches “finger vein” reader
05/09/2014 Barclays and Hitachi have today launched a new, futuristic way to for customers to access bank accounts, using only their finger. A device about the size of a tennis ball is plugged into a computers USB port and an infa-red light checks the unique pattern of veins inside a customer’s finger. They will then be able to access their bank account without having to use passwords, pin nu...Read More
Santander launches fee-free bank account
Santander, the Spanish financial giant which owns the likes of Abbey and Alliance & Leicester, has today announced plans for a fee-free bank account which will go on general release in the UK in 2010. Under the terms of the account, holders will not be charged any fees on authorised or unauthorised overdrafts although they will still incur a pre-agreed interest rate which will start at 12.9%. Even...Read More
Irish authorities act to quell fears over banking sector
The Irish authorities have tonight announced a plan which they believe will allow the Irish banking sector to rebase and regroup for the future. This comes after a dramatic time for the Irish banking sector which has seen a number of banks bailed out by the government and a number of controversies hit the headlines. So what is the government offering? While many people believed that the Irish g...Read More
Barclays Bank to close 11 cash ISAs
07/08/2014 Barclays Bank is set to close 11 of their cash ISAs (Individual Savings Accounts), meaning 2.3 million customers will be moved onto a simplified product range. The simplification of their ISA range means that 1.6 million savers will be put on a worse interest rate than before, although 740,000 will be put on the same or a better rate. Lee Chiswell, head of savings at Barclays...Read More