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EU approves sale of RBS branches
Road_Hog
Posts: 2,749 Forumite
"The European Commission yesterday cleared the sale of 318 Royal Bank of Scotland branches in the UK to Spain’s Banco Santander.
The commission said the transaction would not raise competition concerns because the overlaps between the banks’ activities were “very limited” and Santander’s market shares would remain low in the UK.
The sale included RBS’ branch-related retail and SME business in England and Wales, the NatWest retail and SME business in Scotland, along with certain mid-corporate customer accounts in the UK.
There are many who do not realise that when Bank branches are sold, the customers are sold with them, and in this case into a Eurozone controlled bank. Guess its going to be a toss up as to whether RBoS or Santander survive the current economic crisis."
Santander has to be the worst bank that I have ever dealt with (Abbey were good). I don't know if the mortgage book has also been sold, but if it has and If I had a mortgage with RBS, I'd be looking to move it.
The commission said the transaction would not raise competition concerns because the overlaps between the banks’ activities were “very limited” and Santander’s market shares would remain low in the UK.
The sale included RBS’ branch-related retail and SME business in England and Wales, the NatWest retail and SME business in Scotland, along with certain mid-corporate customer accounts in the UK.
There are many who do not realise that when Bank branches are sold, the customers are sold with them, and in this case into a Eurozone controlled bank. Guess its going to be a toss up as to whether RBoS or Santander survive the current economic crisis."
Santander has to be the worst bank that I have ever dealt with (Abbey were good). I don't know if the mortgage book has also been sold, but if it has and If I had a mortgage with RBS, I'd be looking to move it.
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