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Santander approaches TSB-owner about high street banking merger
UNITED KINGDOM, JUN 18 – Santander aims to expand its UK retail banking by acquiring TSB from Banco Sabadell amid ongoing sector consolidation and digital modernization pressures.
- On 18 June 2025, Santander approached Banco Sabadell about a potential takeover of TSB, Sabadell’s UK retail bank with 175 branches.
- This approach follows Sabadell’s confirmation that it has put TSB up for sale amid a 9 billion hostile bid by Spanish rival BBVA.
- TSB serves 5 million customers and holds a mortgage book exceeding £33 billion, while Santander plans to close 95 of its 444 UK branches this year.
- Gary Greenwood of Shore Capital said any buyer would focus primarily on cost reduction, and Sabadell stated it will assess any formal offers.
- If Santander acquires TSB, it could expand its UK retail presence, although CEO Ana Botin has denied plans to exit and affirmed the UK remains a core market.
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Sky News UKReposted by 
MSN
MSNSantander approaches TSB-owner about high street banking merger
The approach to Banco Sabadell by Britain's fifth-biggest bank comes months after Santander chair Ana Botin denied that she was looking to sell its network of roughly 350 branches, Sky News can reveal.
·United Kingdom
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Total News Sources11
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
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