Banco Santander has confirmed that its UK division remains an essential part of its global business strategy and is not for sale. A spokesperson for the company said this on Thursday, denying reports of some talks.
Reports Suggest Talks with NatWest
The Financial Times reported that Santander held discussions with NatWest about selling its UK retail business. An unerofficial report stated that last year, early stage talks took place between the two firms. Even though there were talks, parties are reportedly keen on something happening on both ends.
Despite these claims, Santander reaffirmed its stance. According to a spokesperson at Santander, they are not for sale. The lender is also up against Lloyds Banking Group and Barclays in Britain, which is a key market along with Mexico, Brazil and Spain.
Santander’s UK Strategy Remains Unchanged
Executive Chair Ana Botín previously stated that the UK remains a priority for Santander. The bank considers the country one of its 10 core markets and plans to stay there.
In January, there was a report by Reuters that Barclays wants to buy UK Santander. However, nothing moved forward as the Spanish lender continues to assess its own position in the region.
A spokesperson for NatWest said in response to this, “We do not comment on speculation”.
