Major UK bank ‘considering quitting the country’ after two decades on the high street

Santander is reviewing its presence on the British high street after cutting hundreds of jobs and experiencing lower returns than overseas markets. The UK arm of the bank has faced frustrations within the wider group due to factors such as a high cost base, ring-fencing regime, and lack of benefit from rising interest rates, leading to potential scaling back of operations. Despite job cuts and profit losses, Santander insists the UK remains a core market for the company, with no imminent deals or announcements expected.

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