farewell to famous names

The Spanish bank rebranded more than 1,000 branches and expects to complete the rebranding of Alliance & Leicester later this year.

The move signalled the end of B&B’s 150-year presence on the high street, although its loan book remains in state ownership and is unaffected by the rebranding.

Santander bought B&B’s 197 branches and 141 agencies, plus its 20bn savings book, for 612m in October 2008 when the bank’s loan book was nationalised. Santander is spending 12m on the rebranding, although it aims to save 180m from integrating the three businesses.

Santander bought Abbey National in 2004 for 8.5m, followed four years later with a 1.3m move for Alliance & Leicester. About 1,900 jobs have already gone as part of its efforts to combine the banks.