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RBS Share Price Rise As Banco Santander SA Prepares To Buy RBS Branches

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July 30, 2010

As Santander CEO announced that the financial firm was expecting to complete its sale of RBS Branches in the United Kingdom, the share prices of Royal Bank of Scotland plc rose up. The Bank was reportedly the only bank that had bid for the RBS Branches and the deal is reportedly worth around £1.8 Billion. Previously the deal was expected to be around £2 Billion.

Recently RBS has been in a bid to change its financial portfolio after the European Union ordered that the bank needs to cut its market share so that it is not at a competitive advantage to other banks.

Apart from the takeover bid in the United Kingdom, the banking major is also selling its assets in Pakistan to Faysal Bank. The deal has recently got the approval of Pakistan’s Central Bank.

The deal might not fit well with the employees of Royal Bank of Scotland since everytime takeovers happen, many employees of companies are fired. It is yet to be seen on what terms the sale takes place.

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Santander Share Price Up And Might Takeover NAB

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July 28, 2010

Share prices of many banking and financial firms went up as the stress report on european banks suggested that most of the banks were healthy and with UBS and Deutsche Bank reporting heavy profits for the second quarter of the year. Santander Bank share prices also went up as news regarding the positive report on bank stress results came out.

Also there is being speculation that Santander bank might takeover National Australia Bank Clydesdale and Yorkshire banking arms. Surprisingly out of seven banks that failed the stress tests, five were located in Spain. However Santander Banking Group which also has its headquarters in Spain was not only just able to pass the stress tests but also has been one of the strongest emerging banking company at the moment.

The company is already considering a flotation of its UK banking operations that is expected to raise billions of pounds for the company. Santander (NYSE:STD) was recently reported to bid for RBS branches in order to diversify its business.

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