Santander UK comprises the former 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. 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 2018, it had 15m active UK customers, with combined deposits of £172bn. It operated 755 branches (down from 845 two years earlier), and was the country's third largest mortgage provider with home loans totalling £158bn. 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 2018, Santander UK reported gross income of £4.5bn, and net profit of £1.1bn. It is the Santander group's single biggest subsidiary, ahead of both Brazil and Spain. 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.
Which agencies handle advertising for Santander? Find out more from Adbrands Account Assignments
Who are the competitors of Santander? See also Financial & Insurance Sector for other companies
Capsule checked 1st May 2019
Recent stories from Adbrands Update:
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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