Spanish banking giant Santander has agreed to purchase Swedish bank SEB’s German business for €555 million (£466.5 million).
SEB, which is Sweden’s third-largest bank in terms of market capitalisation, acquired its German retail banking business ten years ago and had planned to sell it in 2008. However, the sale was delayed due the global financial crisis.
Meanwhile, [...]
An independent valuer has said former shareholders of crisis-torn Bradford & Bingley (B&B) will not receive any compensation after it was split and sold.
At the height of the financial crisis, B&B’s loan book was nationalised, while Spanish banking giant Santander took ownership of its savings business and branch network.
B&B’s shares closed at 20p in the [...]
Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has announced it has completed the sale of its metals, oil and European energy business, Sempra Commodities, to US investment bank, JP Morgan, in a $1.6 billion (£1.1 billion) deal.
Sempra, which is based in San Diego reported 2009 revenues to be in the [...]
Santander has announced plans to charge customers up to £50 per month for using their unauthorised overdraft.
The £5 per day charge, capped at a maximum of £50 in any one month, will apply to new current accounts opened from December.
Customers who use their authorised overdraft will be charged 50p per day, up to a [...]
Spanish bank giant Santander has today confirmed it has submitted an offer to buy Royal Bank of Scotland’s (RBS) Williams & Glyn’s network of branches.
The deal will give Santander approximately 1,645 branches, or 12% of the market, and cement its status as the second largest mortgage loan provider.
The Spanish bank already has a major UK [...]
Spanish bank giant Santander has today confirmed it has submitted an offer to buy Royal Bank of Scotland’s (RBS) Williams & Glyn’s network of branches.
The deal will give Santander approximately 1,645 branches, or 12% of the market, and cement its status as the second largest mortgage loan provider.
The Spanish bank already has a major UK [...]