MarketLine Blog

Posts tagged to Santander

Williams & Glyn: RBS abandons spin-off IPO plan

MarketLine

To comply with European Commission State Aid requirements, RBS agreed in 2009 to a series of restructuring measures that were to be implemented over a four year period. One of these measures was the divestment of the RBS branch network in England and Wales and the NatWest branches in Scotland. This was scheduled to be completed by 2013, but an extension was granted after the original bidder, Santander, pulled out. A consortium known as Corsair stepped into the breach and invested, facilitating a later sale or, more likely, an IPO…. Read more

Williams & Glyn: Future of RBS spin-off in doubt as launch delayed

MarketLine

Overly ambitious growth strategies initially brought great success for RBS and the company was seen as the darling of the stock market, consistently delivering double digit growth. However, the company swelled to such a size that its assets were twice the size of the UK economy and a woefully ill-advised acquisition of ABN Amro in 2007 as part of a consortium tipped the bank over the edge as it took ownership of a large amount of toxic assets. The weakness was ruthlessly exposed during the global crash of 2008/2009 and… Read more

Branch sale collapse leaves RBS in limbo

  Last Friday, it was announced that the Royal Bank of Scotland’s (RBS) proposed sale of 316 branches and other interests to Santander had collapsed. The Spanish banking giant pulled the plug, citing the length of time the deal was taking to complete as its reason for doing so. The bank’s spokesmen stated that it did not feel the deal could be completed by a deadline that had already been revised. Santander has long felt that its share of the UK SME market is far lower than its natural market… Read more