Banco Santander has reaffirmed that its UK division remains a vital part of its global strategy and is not up for sale, a company spokesperson stated on Thursday.

The statement follows a report from the Financial Times, which claimed that Santander had engaged in discussions with NatWest regarding a potential sale of its UK retail business. According to sources cited in the report, preliminary talks took place last year, and both parties continue to show interest in a possible deal.

"Santander UK is not for sale," a company spokesperson told Reuters, dismissing the speculation.

Santander operates in the UK alongside major competitors like Lloyds Banking Group and Barclays. Britain is one of the Spanish lender’s key markets, alongside Mexico, Brazil, and Spain. Executive Chair Ana Botín reaffirmed earlier this year that the UK remains a core focus for the bank.

In January, Reuters reported that Barclays had explored a potential offer for Santander's UK business, but discussions did not progress as Santander reviewed its position in the British market. Photo by Pedro Mondejar, Wikimedia commons.