Not really much to comment on. Hardly unusual for businesses to review what they are doing, and for foreign owned businesses, the possibility of leaving the market will never be off the table.
Right lads, back to RBS?!
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Im sticking with Santander as long as they keep giving me money to use the Edge account 
Not too concerned with them leaving. It isn’t like it’s certain and even if they do leave, someone will buy parts of the business or they’ll just close the accounts. Hardly the end of the world.
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Another purchase for Nationwide or Coventry?
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Monzo be eyeing up the mortgage book 
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I am, though will move some DDs to Santander for the cashback.
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Found an alternative non pay-walled article on Reuters.
It would be funny if they get merged with TSB because 
and they both have a focus on mortgages.
Nationwide has already bought Virgin Money and Barclays bought Tesco Bank, Natwest bought Sainsbury’s bank so the competition authority might not approve any of those 3 to take over Santander. I was checking out reviews about them and they do have loads of complaints on Reddit over random account closures. Was tempted to use them for a switcheroo bonus but can’t be bothered after reading all the saga.
Just saw someone on MSE give their theory that this may be more to do with influencing the government to change some of their ring fencing rules. That wouldn’t surprise me. Santander is hardly doing badly here so I would genuingly be shocked if they left for good.
Thing is that they aren’t doing as well here as they are elsewhere.
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Now that this is being more widely reported, I predict a denial later today.
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On a side note how awful are Independent webpages? It’s a horrendous user experience with the adverts 
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Whoever was in charge at Reach seems to have found new employment.
They already denied it on the FT. Just said they were committed to the UK or something like that
Apparently managers have been given a script;
if anyone asks “is it true that you are reviewing your presence in the UK?” bosses should respond by saying that Santander executives “review strategic priorities in all our markets annually. This is part of business as usual.”
And
In response to being asked if the bank is “planning to exit the UK”, bosses are instructed to say: “The UK is a core market for Santander. This has not changed. We remain focused on delivering our strategic priorities and continuing to serve our 14 million customers in the UK.”
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Of course it reviews its markets. Every company will. This isn’t news.
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Indeed. But not every company needs to tell its managers to say so if asked about the business closing in one of its markets.
Interesting detail from the article:
Santander… is also grappling with the fallout of a growing car finance commission scandal, which analysts at RBC Capital say could cost the bank up to £1.9bn in compensation.
So, they’re pissed they have to pay that out which swallows all their profit.
Nothing to do with current performance, more like historical mistakes biting them in the ass and now spitting their dummy 
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All the banks are affected by the car finance “scandal”, not just Santander, but some of them are taking it to the Supreme Court, so it’s not yet certain that they’ll have to pay anything out.
Also, just because the UK is a core market for Santander today, it doesn’t mean that it will still be a core market tomorrow.
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Only because it’s somehow become news. If it was any other company they’d have to do the same.
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