Via the BBC website comes news that the all-conquering Spanish bank Santander, having mopped up a giant chunk of the British banking industry in the form of the Abbey, Alliance & Leicester and Bradford & Bingley Savings, is to rebrand them all as Santander with effect from the end of 2010.
Wednesday, 27 May 2009
Right: Santander's conquistadors model their new UK staff uniforms
While traditionalists will mourn the passing of these great High Street names, shareholders may feel less disappointment if any savings through brand rationalisation are passed on to them in the form of higher dividends. They weren't real banks in most consumers' minds anyway -- just souped-up building societies where British savers could spend many happy hours engaging in their favourite pastime: queuing.