According to recent reporting by the Financial Times, Santander is considering exiting the UK as its returns in the country lag behind other markets.
Alongside these lower returns, Santander is exposed to the country's auto loan misselling scandal. The bank set aside £295 million to cover related costs in November. This followed a Court of Appeal ruling that "discretionary commissions" schemes, whereby finance brokers and dealers are incentivized to raise interest rates, are illegal.
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