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Santander considers UK exit amid frustrations with high street banking, FT reports

  • Banco Santander is reconsidering its presence in Britain after acquiring Abbey National two decades ago, as reported by the Financial Times.
  • The bank is exploring strategic options, including a potential exit from the British market, according to the report.
  • Santander aims to focus on larger growth regions, such as the U.S., and has set aside 295 million pounds for costs related to an industry probe.
  • The bank has reduced its workforce in Britain by cutting 1,400 jobs in October, with uncertainty about potential buyers for its unit, as noted by sources.
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Financial Times broke the news in London, United Kingdom on Saturday, January 18, 2025.
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