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Santander Poised to Apply For RBS Small Business Lending Funds

Stefania Spezzati
Santander Poised to Apply For RBS Small Business Lending Funds

Banco Santander SA has its eyes on some of Royal Bank of Scotland Group Plc’s businesses again. The British unit of Spain’s biggest bank plans to apply for a slice of the 775 million pounds ($1 billion) of funds that RBS agreed to make available to stimulate competition in the U.K. small-business lending market. The European Union accepted an RBS proposal to make the funds available after the bank failed to sell its Williams & Glyn unit.