Santander UK Completes £2.65bn TSB Acquisition for Growth Strategy

Santander UK has finalized the £2.65bn ($3.6bn) acquisition of TSB from Sabadell following clearance from the Prudential Regulation Authority and the European Central Bank. This deal, initiated in July 2025, aims to enhance return on tangible equity to 16% by 2028 and includes projected cost synergies of at least £400m. Post-acquisition, Santander UK will be the UK's third largest bank in terms of personal current account balances, serving nearly 28 million customers. Banco Sabadell is expected to gain over 400 basis points of capital and over €300m from the sale.

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