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Santander says bought 2.3 pct of RBS in 2007

Fri Apr 18, 2008 9:56pm IST
 
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MADRID, April 18 (Reuters) - Spanish bank Santander (SAN.MC: Quote, Profile, Research) bought a 2.3 percent stake in Royal Bank of Scotland (RBS.L: Quote, Profile, Research) last year, according to its annual report published on Friday.

Santander sold off a more than 5 percent stake it held in the British bank in 2004 and 2005 but said in the annual report it had bought back into RBS's capital last year.

The report showed that Chairman Emilio Botin also owned 8.2 million RBS shares personally.

Santander and RBS teamed up with Fortis (FOR.BR: Quote, Profile, Research) to buy and break up ABN AMRO last year.

The annual report also showed that Santander owned 2.1 percent of Fortis at the end of December.

Shares in both RBS and Fortis were listed in the "available-for-sale financial assets" table in the report. (Reporting by Jane Barrett)

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