MADRID -(Dow Jones)- Spanish banking giant Banco Santander SA (STD) has no plans for acquisitions and remains focused on organic growth and integrating recently acquired assets in the U.K. and elsewhere, Chief Executive Alfredo Saenz said Wednesday.
Saenz was answering a question from an analyst on its potential interest in part of the branch network of Royal Bank of Scotland Group PLC (RBS), which is expected to be put up for sale by the U.K. government soon.
On acquisitions in general, Saenz said: "Radically no, we don't have any idea of doing any acquisition in any of our main geographical area," he said.
He was speaking on a conference call following Santander's third-quarter earnings.
Santander in the U.K. owns Abbey National PLC, Alliance & Leicester PLC and the branch network of Bradford & Bingley PLC. It controls the largest banking network in Latin America and one of the largest in Spain.
Company Web site: www.santander.com
-By Christopher Bjork, Dow Jones Newswires; 34 91395 8123; christopher.bjork@dowjones.com