Bradford & Bingley International
Encyclopedia
Bradford & Bingley International was Bradford & Bingley
's offshore finance arm
The business of Bradford & Bingley International (BBI) was transferred to Alliance & Leicester International
(ALIL) on 5 August 2011. Both businesses have been part of Grupo Santander
since 2008 and the transfer took place ahead of the expiry of a trademark license on the Bradford & Bingley name and image. Like the former BBI, ALIL is located in the Isle of Man
and offers a range of international savings accounts primarily to Isle of Man residents and British expatriates but also to non-domiciles living in the UK, Channel Island residents and expatriates worldwide.
as part of the deals surrounding UK Government nationalisation of Bradford & Bingley plc.
As part of the deals surrounding UK Government nationalisation of the loans part of Bradford & Bingley
, Bradford & Bingley International was bought by the Spanish bank Grupo Santander
along with the UK banking part.
In October 2009 it was announced that both Bradford & Bingley International and Alliance & Leicester International
had made two appointments of the same people to their boards and both banks were moved into the wealth management division of Santander UK
. Abbey International, also part of the group, was renamed Santander Private Banking in 2011.
Bradford & Bingley International was merged into Alliance & Leicester International on 5 August 2011 before a trademark licence on the Bradford & Bingley name and image was to expire in September 2011.
Bradford & Bingley
Bradford & Bingley plc is a British bank with headquarters in the West Yorkshire town of Bingley. In 2008, partly due to the credit crunch, the bank was nationalised and in effect split into two parts; the mortgage book remained with the now publicly owned Bradford & Bingley plc, and the deposits...
's offshore finance arm
The business of Bradford & Bingley International (BBI) was transferred to Alliance & Leicester International
Alliance & Leicester International
Alliance & Leicester International Limited has been part of Grupo Santander since 2008 and is a wholly owned subsidiary of Santander UK plc. The bank offers a range of international savings accounts primarily to Isle of Man residents and British expatriates but also to non-domiciles living in the...
(ALIL) on 5 August 2011. Both businesses have been part of Grupo Santander
Grupo Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world...
since 2008 and the transfer took place ahead of the expiry of a trademark license on the Bradford & Bingley name and image. Like the former BBI, ALIL is located in the Isle of Man
Isle of Man
The Isle of Man , otherwise known simply as Mann , is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland, within the British Isles. The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Lord of Mann is...
and offers a range of international savings accounts primarily to Isle of Man residents and British expatriates but also to non-domiciles living in the UK, Channel Island residents and expatriates worldwide.
History
The company was established in 1989 and had grown to hold over £3 billion in deposits before it was purchased by the UK subsidiary of Grupo SantanderGrupo Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world...
as part of the deals surrounding UK Government nationalisation of Bradford & Bingley plc.
As part of the deals surrounding UK Government nationalisation of the loans part of Bradford & Bingley
Bradford & Bingley
Bradford & Bingley plc is a British bank with headquarters in the West Yorkshire town of Bingley. In 2008, partly due to the credit crunch, the bank was nationalised and in effect split into two parts; the mortgage book remained with the now publicly owned Bradford & Bingley plc, and the deposits...
, Bradford & Bingley International was bought by the Spanish bank Grupo Santander
Grupo Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world...
along with the UK banking part.
In October 2009 it was announced that both Bradford & Bingley International and Alliance & Leicester International
Alliance & Leicester International
Alliance & Leicester International Limited has been part of Grupo Santander since 2008 and is a wholly owned subsidiary of Santander UK plc. The bank offers a range of international savings accounts primarily to Isle of Man residents and British expatriates but also to non-domiciles living in the...
had made two appointments of the same people to their boards and both banks were moved into the wealth management division of Santander UK
Santander UK
Santander UK plc is a wholly owned subsidiary of the Spanish Santander Group. Based in the United Kingdom, it operates under the name of Santander. Santander is the third largest bank in the UK in terms of deposits, the second largest in terms of mortgages held, and the fourth largest in terms of...
. Abbey International, also part of the group, was renamed Santander Private Banking in 2011.
Bradford & Bingley International was merged into Alliance & Leicester International on 5 August 2011 before a trademark licence on the Bradford & Bingley name and image was to expire in September 2011.