Abbey/Banco Santander: restructuring program is still the key

Mixed reactions to Banco Santander's [SAN.MC] bid to acquire Abbey [ABBE.L] are perhaps unsurprising given the UK bank's recent woes. However, the Spanish group stands to gain a major presence in UK retail banking. Additionally, Banco Santander could transfer some of Abbey's recently developed competences in wealth management to neighboring European markets.

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Allfunds Bank: UK offering may struggle to replicate Spanish success

Allfunds Bank, a joint venture between Sanpaolo IMI and Abbey's parent Grupo Santander, will launch its third-party distribution platform in the UK. The venture accounts for about half of the third-party fund distribution market in Spain, but the company is unlikely to enjoy the same strong performance in the UK.

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Alliance & Leicester takeover could signal an end to UK banking competition

Banco Santander announced on July 14 that it had, rather hastily, agreed a deal to take over Alliance & Leicester for a reported GBP1.2 billion. While regulators welcome the move, the deal also symbolizes another nail in the coffin for innovative competition in the UK banking market.

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Banco Atlantico: consolidation in Spain

Arab Banking Corporation has expressed its intention to sell its majority stake in Banco Atlantico, Spain's 15th largest bank. Barclays, Deutsche Bank and other Spanish players are said to be interested in the offer and this process of consolidation will only serve to benefit the Spanish market, making it stronger and more competitive.<BR />

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Banco Espirito Santo: eyeing Spanish high net worths

Banco Espirito Santo (BES), Portugal's third largest private sector bank, is reportedly planning to attract 15,000 new wealthy clients in Spain by opening four or five new private banking offices by the end of 2005. The ability to use its existing client base as a tool to leverage new business will be central to ensuring BES achieves its ambitious targets across the border.

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Barclays: build-up in Spain?

With a second acquisition, Barclays [BARC.L] could triple its size in the Spanish market within a year. Buying Atlantico [ATL.MC] would save Barclays integration costs and allow it to reach a number of new client segments. Offering customers innovative lending products that stem from the UK is a winning strategy for Barclays in Spain. Only a deflating housing market could ruin the fun.

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Barclays: expansion to kick-start rival mergers

Barclays' takeover of Spanish Banco Zaragozano for E1.1 billion will significantly strengthen its position in the Spanish market. This move has sparked discussions over further pan-European mergers and acquisition activities in the banking sector.<BR />

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Barclays: making headway with Zaragozano

Barclays [BARC.L] is making headway in its plans to de-list Banco Zaragozano. A full integration should open new channels for Barclays' popular retail lending products in the Spanish market. Retail lending should remain a lucrative opportunity for Barclays Espana over the next few years, despite economic uncertainty and a potential cooling in the housing market.<BR />

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Barclays: sudden bid for Spain

Barclays has announced a takeover bid for Banco Zaragozano, the 11th biggest bank in Spain. This E1.14 billion deal would create the sixth biggest bank in Spain and put an end to Barclays' search for a partner to increase its European presence.

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BBVA: European superbanks hit a brick wall

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