HW Media connects and informs decision makers across the housing economy. Professionals rely on HW Media for breaking news, reporting, and industry data and rankings. Moving the Housing Market Forward.

RBS sells outlets to Santander for $2.7bn

Royal Bank of Scotland Group, Britain’s biggest government-owned bank, agreed to sell 318 branches to Spain’s Banco Santander, a disposal forced on the lender following its taxpayer-funded bailout. Santander will pay £350ms ($558m) more than the branches’ net asset value when the purchase is completed by December 2011, the Edinburgh-based lender said in a statement today. That values the branches at about £1.7bn ($2.7bn).

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please