STORY: Spain’s Santander could be set for a UK exit.
A Reuters source says the firm is weighing options for retail banking in the country.
They say it’s part of a regular assessment, with scaling back just one possible outcome.
Over the weekend, the Financial Times reported that Santander could exit the UK market to focus on higher growth regions, including the U.S.
The report said no deal or announcement was imminent.
Santander has been a big player in UK banking since its purchase of the Abbey National building society two decades ago.
Now a separate source says Barclays has discussed buying its business in the country.
The talks reportedly broke down amid disagreement over a price for the deal.
And it’s not clear whether Barclays remains interested.
In a statement on the new reports, Santander would only say that the UK remains a core market for it.
The bank has previously expressed frustration over doing business in the country.
Last March, its UK boss told lawmakers that fierce competition and the complex tax treatment for banks were among major issues.
Santander has already scaled back operations in Britain, announcing 1,400 job cuts in October.
