Spanish banking unions are braced for thousands of more job cuts this year, starting with redundancies at Spain's largest bank Santander after its merger with subsidiary Banesto.
Unions said yesterday they expect between 3,000
Spain's largest bank Santander will call an end to the 110 year-old Banesto brand as it fully absorbs its local subsidiary to cut longer-term costs, closing 700 branches.
The all-share deal will cost Santander around 260 milli
Qatar is in talks about buying a stake in the British arm of Spanish bank Santander prior to or at the time of a planned flotation of the unit, reported the Sunday Times newspaper.
Santander is in detailed discussions with Qatar Hold
Spain's Banco Santander, the euro zone's largest bank, said it was emerging from the global economic crisis in a stronger position and could boost earnings without making acquisitions.
"Santander is coming out of this crisis clearly streng
Spain's Santander has agreed to sell its 32.5 percent share in Spanish oil company Cepsa to Abu Dhabi fund IPIC at 33 euros per share or about 2.87 billion euros ($3.80 billion).
Cepsa is a petrochemical and refinery group with a large