Banco Santander SA, a Spanish multinational banking group, plans to reorganize operations in the UK. This is reported by foreign media.
Banco Santander expects to receive regulatory approval for the separation of the consumer lending business from the structure of the British subsidiary of Santander UK Plc.
The auto loan segment, which is part of the consumer credit division, is facing challenges specific to the industry as a whole. In October 2024, the Court of Appeal ruled that banks were illegally paying car dealers to sell loans to motorists without customers' knowledge and, therefore, should accept possible damages claims worth billions of pounds.
In recent years, Banco Santander has shifted to the American markets and stopped prioritizing Europe. As part of this strategy, Santander is considering options for a controlling stake in the Polish division, including a potential sale.
In addition, Banco Santander intends to carry out share buybacks worth 10 billion euros during 2025 and 2026 at the expense of profits and excess capital. From April 11 to April 22, 2025, the bank repurchased 13.8% of the outstanding shares as of 2021.
Banco Santander, S.A. is a multinational banking group established to finance trade between Spain and Latin American countries. The Bank provides various financial products and services to individuals, small and medium-sized enterprises, large corporations and government organizations. The headquarters is located in Santander (Spain).
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