On 29 September 2011, at the Banco Santander Group Investor Day, Santander UK management presented its three year strategic plan. The strategy is directed towards the commercial turnaround of the businesses and Santander UK's transformation into a market-leading retail and corporate bank in the UK.
In reaction to the greater challenges emerging in the economy, our strategic focus will move more towards balance sheet strength and stability. We will be focused on maintaining the high quality of our lending, improving further our capital base and tightly managing the liquidity and funding positions.
Our goal remains to develop Santander UK into a full service, diversified, customer-centred franchise. The strategy has three principles:
- shifting to a customer focus rather than a product focus;
- to a more balanced business mix, particularly growth of SME and business banking; and
- maintaining operating efficiency hand-in-hand with good service levels to customers.
Our proprietary market-leading IT platform is integral to meeting these goals. We will invest £490m over the next three years to further improve its functionality and capabilities, at which point the ability to differentiate and grow the businesses faster will be in place.
Details of the Santander UK plc Investors day presentation slides can be found here.
We also make reference to our strategic objectives in our regular quarterly Trading Statements which can be found in Results & Presentations.