Santander to Retire TSB Brand Name After Acquisition
Santander plans to retire the TSB brand and operate as Santander UK after acquiring the British unit. The bank expects to save 400 million pounds from the deal.
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BANCO SANTANDER SA reportedly plans to retire the TSB brand following its 3.3B euro acquisition of the United Kingdom lender. The move follows the purchase of the unit from Spain-based BANCO DE SABADELL SA completed in early May. Consolidating under the Santander UK banner targets 400M pounds in cost savings, representing 55% of the TSB cost base.
