2 Jul 2021 09:04
SANTANDER UK GROUP HOLDINGS PLC
SANCTION OF CORPORATE & INVESTMENT BANKING PART VII BANKING BUSINESS TRANSFER SCHEME
2 July 2021
Santander UK Group Holdings plc announces that, following a hearing held on 23 June 2021, the High Court of England and Wales has sanctioned the transfer of substantially all of the Corporate & Investment Banking ("CIB") business of Santander UK plc ("Santander UK") to the London branch of Banco Santander, S.A. (the "SLB"), by way of a banking business transfer scheme under Part VII of the Financial Services and Markets Act 2000 (the "Scheme").
The transfers of CIB business from Santander UK to the SLB under the Scheme are scheduled to take place before the end of 2021.
Contacts
Paul Sharratt | Head of Investor Relations | 07715 087 829 |
Stewart Todd | Head of External Affairs | 07711 776 286 |
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Additional information about Santander UK and Banco Santander
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2020, the bank had around 21,900 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers' eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2020, Banco Santander had more than a trillion euros in total funds, 148 million customers, of which 22.8 million are loyal and 42.4 million are digital, 11,000 branches and 191,000 employees.