FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
for FREE within 60 minutes*

Santander set to grab 318 Royal Bank of Scotland branches

The inside word appears to suggest that Santander, the Spanish banking giant, is on the verge of acquiring 318 Royal Bank of Scotland branches put up for sale by the company. Despite earlier rumours that the company had bid of around £1.8 billion it seems that the final asking price will be around £1.65 billion with Santander the only bidder left at the table. However, it looks as though the deal may well take up to 18 months to complete!

Under strict UK and European banking regulations it is likely to take up to 18 months for the acquisition to be finalised and the transfer of the branches completed. This does seem rather bizarre when you consider that the European Union forced Royal Bank of Scotland to put these branches of the sale due to the fact the company had received significant state aid from the UK authorities. It will be interesting to see any comments from the competition authorities but ultimately with Santander the only bidder at the table the deal should effectively flow-through.

The sale of the branches will mean a massive difference to the future makeup of Royal Bank of Scotland which has paid a price for significant risks taken in the past. The Royal Bank of Scotland we see today will be very different to the Royal Bank of Scotland we will see in 18 months time.

Share this..

Related stories

Online banking fraud rises by 48%

27/03/2015 Following our story earlier this week about identity fraud being on the rise , Financial Fraud Action (FFA) has confirmed that loses from online banking fraud have risen by 48% in 2014. As consumers increasingly conduct their banking affairs online, fraudsters continue to adapt... Read More

Ask your question now!

Ask your question in the box below

Contact details are required so we can respond to your question

Allow 60 minutes* for a response from our UK qualified advisers

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Stranded abroad with no money!


Setting off on your holiday is a time to relax, have fun and create great memories, but sometimes things can go wrong. Our latest blog looks at what you can do if you find yourself stranded abroad with no money, and the precautions you can take to stop this from happening.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue