On Feb 13, a Banco Santander spokesperson reaffirmed that their UK division is integral to the bank's global business model and is not up for sale, in response to a report by the Financial Times suggesting discussions with NatWest for a potential sale. Although early talks occurred last year, both parties reportedly maintain interest in a deal. "Santander UK is not for sale," clarified the Santander spokesperson.
Competing with banks like Lloyds Banking Group and Barclays in the UK, Santander highlights Britain as one of its 10 strategic markets alongside Mexico, Brazil, and its home market, Spain. Executive Chair Ana Botin emphasized the UK's importance to Santander's future earlier this year.
In January, Reuters reported that Barclays had approached Santander about a potential acquisition of its UK operations, but no agreement materialized as Santander reviewed its UK presence. A NatWest Group spokesperson declined to comment on the speculation.