A major UK banking brand looks set to disappear from high streets forever after a recent takeover deal. The TSB brand, which has a history spanning over 215 years, could soon disappear as Santander plans to gradually retire the name.
The Spanish bank which is planning to takeover the UK retail lender intends to drop the TSB brand and run the combined business as Santander UK once the two banks have been integrated, accotding to the Financial Times. Santander’s £2.65 billion acquisition of TSB from Sabadell was agreed last year and completed last week. This move was the biggest investment in the UK banking sector in more than 15 years.
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