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TSB is up for sale again
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Santander closes branches and turn some into non - counter services, yet buy TSB?0
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If there is platform migration- in your opinion what sort of time scale would you think that a TSB customer would go over to Santander’s IT systems ? Just a ball park figure
a year?
two?
five??
I think they'd want the migration completed as soon as possible, so I'd say within the first year.1 -
If they are planning on exiting the UK in future it would make sense to rebrand the lot to TSB and then if the bank is sold on they can keep the brand without having to change name again. The problem is whether or not the TSB name is tarnished too much from the IT Meltdown on 2018 or if Santander's bad reputation for customer service is worse.
Personally I've not had an issue with either of them.
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ranciduk said:WillPS said:EarthBoy said:WillPS said:HillStreetBlues said:Looks like I've had the last switching reward from TSB as by time I qualify again the brand will be gone.
Watch Santander CFO Says TSB Brand Has a ‘Lot of Value’ - Bloomberg
When asked if they will do away with the TSB brand, he doesn't actually say one way or the other, he just says they will decide what to do when the merger completes. However, he says that TSB customers will have access to more branches, which at least implies they will get rid of the brand, unless they follow the Lloyds Banking Group's approach and allow customers of multiple brands to use any of their branches.
Not saying it will or won't happen anyway - Abbey [National] was arguably a better respected brand at the point they flushed that away. Just too soon to be sure.
a year?
two?
five??2 -
2 years?? Where did you read that?
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GeoffTF said:Section62 said:HillStreetBlues said:EarthBoy said:"Asked about closures and job losses, Santander’s UK boss Mike Regnier said: ‘There will be efficiencies that we expect to make.’....
Regnier said TSB was a powerful brand but that ‘typically at Santander we tend to use the Santander brand on the High Street around the world. That’s the approach we normally take.’ "
https://www.thisismoney.co.uk/money/markets/article-14869901/High-St-set-branch-closures-Santander-snaps-rival-TSB-2-9bn-deal.html
None of the key issues that made them consider exit will disappear by simply absorbing TSB.
They paid a premium as they opted to buy at this point with Barclays snapping at their heels.
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ranciduk said:2 years?? Where did you read that?1
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GeoffTF said:ranciduk said:2 years?? Where did you read that?
https://www.londonstockexchange.com/news-article/BNC/presentation-to-analysts-about-transaction-on-tsb/17114285
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