View more on these topics

Floatation may fund Santander’s bid for RBS branches

Santander is thought to be consi-dering a floatation of its UK businesses as part of plans to buy up branches being sold by the Royal Bank of Scotland.

RBS is selling 318 branches following a ruling by the European Commission in November which ordered the lender to offload assets to boost competition.

Santander is tipped to be one of the bidders for the RBS branch network as its plans to expand its UK business following the recent rebranding of Abbey and Bradford & Bingley, and the upcoming rebrand of Alliance & Leicester.

A floatation is said to be one of the options on the table to raise the capital needed to buy the branches.

Earlier this month Santander UK posted a 30% rise in annual pre-tax profits to £1.54bn for the year to December 31 2009.

The company took a gross mortgage lending market share of 18.6%, up from 13.9% in 2008.

A Santander spokesman was unable to comment on reports of a possible floatation.


MPC unanimous on pausing QE

The Bank of England’s Monetary Policy Committee were in all in agreement to hold the base rate at 0.5% and not to extend its £200bn quantitative easing programme.

RBS must see sense and avoid sparking a dual pricing row

First, I’d like to make it clear that it is not my intention in this letter to have a go at the Royal Bank of Scotland – I just want it to see sense. I applaud some of the recent changes it has made and am pleased it has realised that we brokers are important […]

Savills gets into express bridging

Savills Lending Solutions is laun-ching an express bridging product funded by Lowry Capital. An express bridge is aimed at customers who need to complete on bridging loans quickly. An agreement can be put in place guaranteeing completion within five working days, up to 70% LTV. Rob Jupp, director of SLS, says it receives a lot […]

Health Shield

Product guide — health cash plans to suit all shapes and sizes

This guide, called ‘Health cash plans to suit all shapes and sizes’, provides information on Health Shield’s standard and tailored cash plans, which are designed to satisfy all business and employee needs. Each scheme can be offered on a voluntary, company-sponsored or flexible-benefits basis.


News and expert analysis straight to your inbox

Sign up