Santander ‘considering quitting the UK’ after two decades on the high street

Santander already announced it was cutting more than 1,400 jobs across its UK business

Santander ‘considering quitting the UK’ after two decades on the high street

Santander is reportedly reviewing its presence on the British high street after shedding hundreds of jobs in the last year.

The UK arm of the bank has seen lower returns than overseas markets, according to the Financial Times, and the company is said to be considering a number of options.

A former executive said Santander UK had caused ‘frustrations’ within the wider group in recent years for a number of reasons including ‘its persistently high cost base, the UK’s ring-fencing regime, its independent board, and the fact that it did not benefit from rising interest rates in recent years as much as its other markets like Spain’.

Santander ‘considering quitting the UK’ after two decades on the high street

https://www.independent.co.uk/news/uk/home-news/santander-uk-bank-quit-leave-economy-b2682473.html