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.
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
Brits consider banking at home
Almost half of Brits think that people will ditch banks and start stashing their cash at home, after the Northern Rock crisis.A survey conducted by Cornhill Direct found that 45 per cent of people thought consumers would leave banks behind and another 40 per cent said that they thought keeping money at home was a good idea.More than three-quarters of those questioned admitted to keeping money at h...Read More
US government charge man with theft of 130 million bank card details
The US government has today charged an alleged fraudster with the theft of 130 million credit and debit card details. If proven in court this will be the largest identity theft ever reported in the US and one of the largest ever in the world. It is alleged that Albert Gonzales, together with two unnamed Russian co-conspirators, managed to hack in to the payment system of prominent US retailers and...Read More
Sir Fred Goodwin comes to the rescue of the regulators
When the going gets tough it seems that another attack on Sir Fred Goodwin fits the bill of diverting attention away from the UK economy and the UK regulators. Yet again, we have seen unconfirmed reports that Sir Fred Goodwin "employed" somebody at the Royal Bank of Scotland head office to fill cash machines with banknotes which only he had signed. While this has grabbed much attention in the medi...Read More
74% of people unaware of extended ISA limit
04/03/2015 Research from Santander has shown that 74% of people in the UK are unaware of the new higher annual ISA allowance, which increased from £5,760 to £15,000 in July of last year. The study has shown that 37.4 million people are unaware of the annual, tax efficient savings allowance, which is fast approaching as the end of the tax year nears. The research also shows that 14 mill...Read More