Santander to scrap UK bank brands [merged]

jamesd

simon_templar wrote: »

Unlike RBS, Santander work prudently and sensibly , hence no bail outs etc.

Really? How about Santander refusing to pay the people who lent them money their interest on the B&B bonds? Saying they aren't going to pay their interest for a while isn't exactly what someone relying on that interest to live on would regard as prudent and sensible.

quietishone

jamesd wrote: »

Really? How about Santander refusing to pay the people who lent them money their interest on the B&B bonds? Saying they aren't going to pay their interest for a while isn't exactly what someone relying on that interest to live on would regard as prudent and sensible.

I may be wrong, but isn't this the part of B&B that the government took into state ownership that is now defaulting on these bonds? If so, then it is nothing to do with Santander - the government will claim that the bonds. like the shares, are valueless and so no compensation is due (i.e. private investors rather than the state are going to pay for as much of the failure of B&B as possible).

nzseries1

jamesd wrote: »

Really? How about Santander refusing to pay the people who lent them money their interest on the B&B bonds? Saying they aren't going to pay their interest for a while isn't exactly what someone relying on that interest to live on would regard as prudent and sensible.

Santander took over the savings of B&B only. Read the article that you posted a link to - there's no mention of Santander at all.

simon_templar_2

Waiting your apology Jimmylad

HannahandMark

Further to other posts regarding the banking licence and the £50k protection, I understand that the A&L licence is to be kept until late 2010 so that people with deposits in A&L and the rest of the Santander group will have £100k of protection. It will be wise to look at your deposits before the final merger happens.

jamesd

quietishone wrote: »

I may be wrong, but isn't this the part of B&B that the government took into state ownership that is now defaulting on these bonds?

You're right that it is Bradford & Bingley not Bradford & Bingley and illustrates one reason why Santander might want a different name for this particular part of its business.

simon templar, if I recall correctly, Santander paid 1.38 billion euros to clients hit by losses from investments with Madoff, the first bank to do so. A bank that is willing to do that isn't really likely to default or willingly delay payments unless it has no choice.