Will Abbey Santander Go The Same Way As Hbos

the_root_of_all_evil

WILL ABBEY SANTANDER GO THE SAME WAY AS HBOS

just opened abbey account is there any danger here.

i thought it was a good idea as it has been taken over by santander which is in a good position.

good move?

Crabman

Santander have taken over A&L so I'm guessing they're in a pretty strong position, there's an article if you're concerned about safety:

http://www.moneysavingexpert.com/savings/safe-savings

tradetime

Banco Santander is a very well positioned bank by all accounts, they adopted a very cautious strategy during all the wreckless lending, and as such have a very good balance sheet. They had negligible exposure to US sub-prime, another bullet dodged, and currently would be considered a predator. So no, they are unlikely to go the way of HBOS, they could hardly fund themselves never mind go off acquiring others.
Banco Santander is currently rumoured to be eying up Bank of Ireland, and has also been scrutinizing the accounts of Washington Mutual.

the_root_of_all_evil

thats good to hear, thanks for that

did i see the share price drop from 12 to 8 recentley though?

tradetime

the_root_of_all_evil wrote: »

thats good to hear, thanks for that

did i see the share price drop from 12 to 8 recentley though?

Dunno, they are down about 30 - 40% off their highs, but then that's pretty good in financials currently, all the banks are getting beat up. Banco Santander would not be a bank I'd be worrying about.

opinions4u

The Spanish banks are on the rise at the moment.

I don't doubt that a Latin American crisis will occur in a couple of years and pull them back down though.

Jake'sGran

I thought the problem with these foreign banks was that there is a problem with tax on the dividends i.e. that if you need to do a tax return the dividend is treated in a different way to a UK one. Not sure of the fine detail but to avoid any more hassle with my financial affairs (they are getting messy) perhaps I should sell my 250 A&L shares?