Santander is set to purchase TSB for £2.65 billion, aiming to strengthen the value of both brands. TSB, established in 1810, will enhance Santander's growth strategy in the UK. Santander's CEO, Mike Regnier, stated the acquisition creates a competitive advantage for the industry. The acquisition process will be subject to approval from Sabadell shareholders and regulators, expected to take several months. TSB will maintain regular operations during this time and continue to serve customers without requiring any immediate action from them.
This is an excellent deal for customers combining two strong and complementary banks, creating one of the most substantial banks in the UK and materially enhancing the competitiveness of the industry.
This deal accelerates our transformation allowing us to enhance our customer proposition and invest more in innovative products and our digital offering, supported by the human touch service so many appreciate.
Having owned TSB for ten years, Sabadell have confirmed that they have accepted an offer from Santander to buy TSB.
Meanwhile, it is very much business as usual for TSB customers while this process takes place. TSB continues to operate as a full-service bank.
Collection
[
|
...
]