Santander’s boss has issued an update on the future of the bank after reportes suggested it was reviewing its operations in the UK.
Ana Botin, head of the Spanish bank Santander, has said Britain will remain a core market for the bank.
It comes after Botin cemented her status on the global stage at the helm of a bank worth £62 billion during President Donald Trump’s inauguration, , reports The Times.
She is said to have told Donald Trump she had 170 million customers worldwide, which meant she had more than Jamie (Dimon, the boss of JP Morgan) and Brian (Moynihan, the head of Bank of America).
It comes after reports claimed Santander is reviewing its operations in the UK.
The Financial Times reported that a review was underway into a business that employs 18,300 people sparking concern about the future of the bank in Britain.
Speculation intensified last week when William Vereker, the former investment banker who chairs the UK operations, announced his intention to leave this year.
On Wednesday, the bank will share its full-year results.
In an interview with The Sunday Times, Botin said: “The UK is not for sale. We love the UK and the UK will remain a core market. We have a strategy review every year.
“The UK is profitable, the UK provides diversification to us because it’s a different currency, it’s a low-risk balance sheet and I’m very happy with how the UK is making progress.”
Earlier this week, reports suggested that the bank’s bosses were exploring various options, including leaving the UK, possibly due to frustrations over high costs and regulations here, reports Wales Online.
A spokesperson for Santander UK said: “We remain focused on providing excellent products and services to our 14 million customers in the UK. The UK is a core market for Santander, and this has not changed.”