Banco Santander reviewing U.K. retail banking presence, Reuters reports

Banco Santander (SAN) is reviewing its presence in Britain as part of a regular assessment of its major businesses, a person familiar with the matter says, Reuters reports. One outcome may include scaling back its business in Britain, the person says. “The UK is a core market for Santander and this has not changed,” Santander said in a statement. Santander competes with Lloyds (LYG) and Barclays (BCS) in Britain. Barclays had approached Santander about a possible offer for its U.K. business but it did not lead to anything, two people say.