Santander injects £1bn into Abbey
SPANISH banking giant Santander yesterday said it had injected £1bn into its UK subsidiary Abbey National, and later in the day confirmed it was in advanced talks to acquire US-based Sovereign Bancorp.
Santander has reassured its UK customers that their deposits will be shielded from the turmoil which is engulfing parts of the Spanish financial sector, home of the bank's retail operations.