Banco Santander, S.A. (SAN) Boosts UK Presence With TSB Bank Acquisition

Banco Santander, S.A. (NYSE:SAN) is among the 13 Best Booming Stocks to Buy Now. On July 1, the company announced that it had reached an agreement to acquire a 100% stake in TSB Banking Group plc in an all-cash transaction for £2.65 billion, subject to approval from Sabadell’s shareholders.

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The acquisition will bolster the Spanish lender’s presence in the UK, with an inflow of approximately 5 million TSB customers, who keep around £35 billion in deposits. The combined entity will enable Banco Santander, S.A. (NYSE:SAN) to become the third-largest bank in the country by personal current account balances.

The takeover comes at a time when Banco Santander, S.A. (NYSE:SAN)’s UK business is booking subpar profits compared to its overall returns. Earlier this year, Reuters reported that the bank was reviewing its presence in the country, with a pullback being among the options.

Ana Botín, Banco Santander, S.A. (NYSE:SAN)’s executive chair, stated the following on the acquisition:

“The acquisition of TSB represents a continuing strategic commitment to our customers in the UK, offering a compelling opportunity that is financially attractive to our shareholders and aligned with Santander’s long-term objectives. It strengthens our franchise in a core market through the acquisition of a low-risk and complementary business that adds to our diversification.”

Banco Santander, S.A. (NYSE:SAN) is a Spanish multinational financial services company, offering services such as deposits, mutual funds, current and savings accounts, loans, and various other financing solutions. The stock has returned 99% so far in 2025.

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