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Banco Santander is a branch of Banco Santander in London, Wednesday, February 3, 2010.
Simon Dawson | Bloomberg via Getty Images
In an action, Santander The British High Street was invented for months in connection with the allegiance and complicated the one-year consolidation epos in the banking sector of Spain.
Tuesday, Spain’s largest lender gossip British High Street Lender agreed to receive 2.65 billion TL ($ 3.6 billion) from Catalonia Fencing in a certified cash contract. Santander said that until 2028, the operation will return to 20% of the return of 20% to 16% to 16% to 16% from 2028.
Procurement was in the center of the English width of Santander after the ABBEY became the market in 2004. However, the profitability of the British branch decreased – with pre-tax earnings Down by 38% annual last year – Questions on the UK’s Santander’s long term. March announcement Potential Layoff and 95 departments, while the CEO Boti is often rejected, rumors were reduced.
“We didn’t think the British left England,” he said. “In fact, we are in fact the largest balance sheet of all countries. This is a high quality, low-risk work, predicted income, sterile currency, sterling, risk-turning our profile.”
He added that the British’s santander’s diversification strategy has always been a very important and main component. “
The purchase of the TSB, as I said, “” It is only strategically important, but the return of the risks in the UK helps our profile, but it is very important. “
Deal can only work from Lloyds to Lloyds as a Defense game trying to stop the TSB from TSB and tried to suspend a capture from Spain’s peers Bbva. Two banks have been closed since Sabadell rejected BBVA’s initial formation proposal in May last year, due to the target of the acquisition.
Now potentially seized the enemy of 14 billion euros, there are bbva decided to keep the offer vigorously Despite the last state of the Spanish government, the seizure can continue if only two banks have not combined operations for at least three years.
During this period, “Protects the autonomy of both institutions in the management of both institutions, as well as the autonomy and assets of their activities,” Spanish Minister of Economics Carlos Cuerpo said during a press briefing.
Spanish banking competition ‘The hardest in Europe’
Madrid – Prime Minister Pedro Sanchez depends on the parties in the catalonian home base in Catalonia – the contract in concern about working losses, despite the fact that the compound from the European Commission will prevent the unit from the European Commission.
“It is important that the association of the banking sector is not applied or inappropriate obstacles,” said Olof Gill, spokesman for the European Commission’s financial services. According to Reuters. The antitrust guardian of Spain has already cleaned the purchase.
After the appetite of the appetite of appetite of the appetite of the appetite of the appetite of the appetite of the appetite of the appetite of the appetite of the appetite of the appetite of the TSB President Carlos Torres Torres Vila, Sabadell will prevent the appetite to present the offer to shareholders.
On Wednesday, RBC analysts, Santander’s shareholders of the TSB (Sabadell) seem to be the last major effort to accept BBVA’s proposal during the upcoming flight period “and” the possibility of BBVA seizures more difficult. “
“We are completely neutrik in the Sabadell-BBVA operation,” Santander’s Garcia Canter CNBC. “This is an active one of the countries in which we operate, and this is our most reliable task to look at all these opportunities and try to do our best for our shareholders.”
He is currently recognized that the competition in the banking of the Spanish is “probably the most difficult in Europe”, citing the weak price of the domestic mortgage.
“I do not think that this intends to banking in Spain. Probably again” Garcia Cantera.
