6. Big Six mortgage lender considering UK exit
At the start of the year, Banco Santander revealed that it was reconsidering its presence in Britain, two decades after entering the market with its acquisition of Abbey National.
According to a report by the Financial Times, Santander's review was part of a regular assessment of its major businesses which could result in a variety of outcomes in the UK, including scaling back its business in the UK or exiting the market altogether to focus on bigger growth regions such as the United States.
In March, the High Street bank announced that it would close 95 branches across the UK, while reducing hours at 36 others.
In July, Santander UK reached an agreement to acquire TSB Banking Group from Banco Sabadell, making it the second largest bank in the country by personal current account balances and number four in mortgages. Following this, Mike Regnier, CEO of Santander UK, announced that he will step down by Q1 2026.
