|
|
|||||||||||
|
|
Rebranded as Abbey in 2003, Abbey National was the first
of the British mutual building societies to seek a wider market by converting to bank status in 1989. In 1996, Abbey
launched a takeover of another society, National & Provincial, for £1.35bn, catapulting it into the ranks of the
country's leading financial service businesses. In 2000 it opened merger talks with Bank of Scotland, but was quickly
targeted itself by an acquisitive Lloyds TSB. In the end neither deal materialised
and Abbey remained independent. The group reported two years of horrendous losses for 2002 and 2003 as a result of a
disastrous move into wholesale banking, and it was acquired soon afterwards by Grupo
Santander of Spain, who engineered a remarkable turnaround of the struggling business. During 2008, Santander
further expanded its presence in the UK acquiring two rival lenders, Alliance & Leicester and Bradford & Bingley,
both of which were absorbed into Abbey. All three British names are to be phased out by the end of 2010 in favour of a
unified Santander branding.
Click here to find out more; or subscribe to Adbrands.net here. Adbrands Company Profiles provide a detailed analysis of the history and current operations of leading advertisers, agencies and brands worldwide, and include a critical summary which identifies key strengths and weaknesses. Adbrands Account Assignments tracks account management for the world's leading brands and companies, including details of which advertising agency handles which accounts in which countries for major markets.
Advertising: Which agencies handle advertising for Abbey? The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here for subscription information.
Competitors: see Financial & Insurance Sector index for other companies
![]()
![]()
Subscribers may access the following website links:
Abbey Group website
![]()
![]()
Click HERE to subscribe to
Adbrands.net and access the profile and website links
Adbrands.net. All rights reserved
© Mind Advertising Ltd 1998-2009