Santander buys RBS branches and becomes bigger than HSBC

Spanish banking giant Santander has become one of the largest banks in Britain after buying 318 branches from Royal Bank of Scotland. The £1.65 billion deal comprises of 311 RBS and seven NatWest branches as well as 47 banking centres including four corporate and three private centres. This brings the total number of Santander branches in the UK up to 1,643, outstripping the 1,369 branches owned by rival bank HSBC.