ABBEY IS PLANNING to open up to 100 new branches across the UK as part of an ambitious organic expansion programme designed to treble the British operations of Banco Santander Central Hispano, Abbey's Spanish owner, over the next ten years, The Times has learnt.
Alfredo Sáenz, the chief executive of Santander, told The Times the company plans to open dozens of new branches in areas of the UK in which Abbey does not currently have a presence. The comments came as Señor Sáenz attempted to quash intense speculation that Santander, which bought Abbey in 2004, is plotting a takeover of another British bank. He is quoted as saying: “It will be 60, 70, 80, maybe 100 new branches and we will probably relocate some also.” This would represent the first significant branch opening programme by Abbey for 15 years, after the former building society’s demutu...
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