Santander UK comprises what were formerly the Abbey National, Bradford & Bingley and Alliance & Leicester banking businesses, acquired individually by Grupo Santander of Spain between 2004 and 2008, merged and rebranded. The group subsequently acquired the bulk of GE's local consumer finance operations in the UK. Aggressive marketing of its services has established Santander as one of the biggest UK retail banks. By the end of 2016, it was just behind Barclays with over 13% of the current account market, according to Gfk/JGFR research. By the end of 2020, it had 14.3m active UK customers. It operated 564 branches (down from 845 in 2016), and was the country's third largest mortgage provider with home loans totalling almost £170bn. Retail banking, including mortgages, credit cards and other loan and savings products, accounts for the majority of operating income, though the group also offers commercial and corporate banking. Other units include private bank Cater Allen and online service Cahoot. Santander replaced Barclays as the main sponsor of London's self-service cycle hire scheme in 2015. Santander was named Best Bank in the UK by Euromoney for three consecutive years from 2008 to 2010, and again in 2012. For 2020, Santander UK reported gross income of just under £4.0bn, and net profit of £438m. Total assets were £299bn. Ana Botin, daughter of Santander Group's longtime leader Emilio Botin, led the UK business for four years before becoming group CEO in 2014. Nathan Bostock is now UK CEO.
Capsule checked 15th July 2021
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Adbrands Daily Update 1st May 2019: Santander UK's long-serving marketing chief Keith Moor handed in his resignation after 24 years with the Spanish bank and its predecessor Abbey. He is joining Camelot, organisers of the UK National Lottery, as chief marketing officer.
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