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Santander rebrands British banks

Published: 08/01/2010

Spanish banking group Santander is taking another step in its plans to rebrand its British holdings, with two of its businesses changing names from Monday (January 11th).

As of next week, Abbey and Bradford & Bingley will be rebranded as Santander UK plc.

Plans to rename the group's other holding, Alliance & Leicester, are set to take place by the end of the year.

Andrew Hagger of Moneynet.co.uk commented on the change, saying that Santander has a good track record and has brought a noticeable difference in product competitiveness to the British market.

He added: "The new combined bank will have around 25 million UK customers, so should be a major financial force and able to compete with some of the bigger and more established banks in this country.

"For many years both Abbey and Alliance and Leicester have been extremely competitive in the current account and personal loan sectors and there's no reason that this rebrand should see that competitive edge diminish."

Mr Hagger went on to say that customer service and pricing will be the areas which Santander will need to focus on in the coming year as it seeks to carve out a positive reputation compared to the other major players on the UK high street.

The Spanish group bought the UK firms during the crisis of 2008, when several of the high street banks began to collapse as the recession hit the country.

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