8th Oct 2008 13:12
8 October 2008
ABBEY WELCOMES HM TREASURY'S ANNOUNCEMENT
Abbey welcomes the initiative. It is another important step in bringing greater stability to the UK banking sector.
Abbey has no plans to utilise the recapitalisation scheme with Government funds. Abbey is well-capitalised with a strong Tier 1 ratio and we will continue to comply with any additional capital requirements through internal capital generation sources.
Abbey has further strengthened its liquidity position following the recent acquisition of Bradford & Bingley's deposit base, which makes Abbey the third largest provider of deposits in the UK.
Abbey continues to benefit from the strength of our parent company, Santander, and remains focussed on its UK growth strategy.
- Ends -
Media Enquiries:
Matt Young, Abbey Media Relations Tel: 020 7756 4190
Anthony Frost, Abbey Media Relations Tel: 020 7756 5632
Charles Ansdell, Abbey Media Relations Tel: 020 7756 4212
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