UK lenders to become Santander

Abbey, Bradford & Bingley savings and Alliance & Leicester are all going to be rebranded as Santander from the first quarter of next year.

The three lenders will assume the name of their Spanish parent company in a move that will see 1,300 Santander branches nationwide.

Once IT systems have been modified to make the institutions compatible with one another, their customers will be able to carry out transactions in any Santander branch within the country.

Antonio Horta-Osorio, chief executive of the company’s UK businesses, suggested the move will benefit consumers.

“Bringing together the three brands means it will be even easier for customers to manage their finances as they will have access to over 1,300 branches once the change is complete,” he said.

The lenders will join Norwich Union, another famous financial brand, in having their names changed by a foreign parent company. The insurer is set to become Aviva later this year.

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