Santander is contacting all 28 million customers to inform them of a major update following the completion of its £2.65 billion takeover of TSB. The deal, which received regulatory approval from UK and European authorities, creates the country's third largest bank for current accounts and fourth for mortgages.
Details of the Merger
The Spanish-owned bank confirmed the transaction went through on Thursday. The combined group now serves nearly 28 million customers, strengthening Santander's position in the UK banking market.
CEO's Message to Customers
Mahesh Aditya, Chief Executive Officer of Santander UK, personally emailed customers with the news. In his message, he stated: "I'm writing to you as the new CEO of Santander UK. This is one of my first opportunities to write to you directly, and I wanted to personally share some good news."
He added: "This development strengthens our position as one of the UK's leading banks. For you, it means we're now better placed to continue to improve the services and products we offer."
Aditya emphasized that the bank is investing to create a stronger future, aiming to become "the best bank for customers in the UK." He assured customers that there would be no immediate changes to their accounts, mortgages, or banking experience.
What Customers Need to Know
Santander confirmed that existing products, services, and day-to-day banking remain exactly the same for now. Customers who also bank with TSB are advised to visit TSB's website for information. The bank urged customers to remain vigilant against scams, reminding them that Santander will never ask for passwords, PINs, or one-time passcodes, nor request money transfers to a 'safe account'.
For any questions, customers can visit Santander.co.uk or contact the bank using the usual channels. Aditya concluded: "Thank you for being a loyal customer of ours. I value the trust you place in us and look forward to continuing to support you."
