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Banco Santander Repurchases 381 Bank Branches in Spain & Plans to Sell More Assets in the UK

The bank has formalised the repurchase of another 381 bank branches in Spain, where it currently operates through a network of 1,921 branches.

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Banco Santander is once again reorganising its portfolio of real estate assets. The bank is adopting new measures in each of the markets in which it operates: in Spain, it is repurchasing 381 branches currently in the hands of Axa and will thereby save 20 million euros per annum on rent; in the United Kingdom, the strategy will see the bank sell various headquarter buildings and plots of land, according to Expansión.

The new measures from the banking entity to restructure its real estate assets include formalising the repurchase of another 381 bank branches in Spain, where it currently operates through a network of 1,921 branches. Santander already recovered the ownership of 650 branches two years ago when it acquired Uro, the real estate company that groups together (owns) Santander’s active branches.

Read the full article in Spanish.

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