Santander plans to retire TSB brand, FT reports (updated)

Banco De Sabadell, S.a

06/05/2026 05:55

Adds response from Santander in paragraph 3

May 6 (Reuters) - Spanish lender Santander SAN.MC plans to retire the TSB brand name a year after announcing its acquisition of Banco Sabadell's British unit, the Financial Times reported on Wednesday, citing people familiar with the matter.

The combined business will operate as Santander UK once integration is complete, the report said.

In an emailed response to Reuters, Santander highlighted TSB's strong consumer brand, saying it would carefully consider how to maximise TSB's brand value over the long term and that it expected "no immediate changes."

Santander, the euro zone's largest bank by market value, completed its acquisition of TSB from Sabadell SABE.MC for about 3.3 billion euros ($3.87 billion) last week.

The bank has said it expects to cut about 400 million pounds ($542.40 million) in costs, roughly 55% of TSB's cost base, from the deal. Executives have also discussed further savings of around 100 million pounds ($135.60 million) after 2028, the FT added.

"Our guidance for expected integration benefits remains unchanged," a spokesperson for Santander said, adding that any additional upside would come from the combined business beyond its 2028 planning horizon.

($1 = 0.8535 euros)

($1 = 0.7375 pounds)

 (Reporting by Ananya Palyekar and Preetika Parashuraman in Bengaluru; Editing by Janane Venkatraman)

 ((Ananya.Palyekar@thomsonreuters.com;))