Finance
Federal Reserve approves Santander's purchase of Webster Bank
Santander will strengthen its presence in the U.S. by acquiring Webster Bank within two weeks.
The Federal Reserve of the United States has authorized Banco Santander to proceed with the acquisition of Webster Bank. According to reports, the transaction is expected to conclude within two weeks and is estimated to cost over $10 billion.
This acquisition will allow the Spanish bank to strengthen its presence in the U.S. market, marking a significant step in its growth strategy in the region.