Abbey and Alliance & Leicester revealed profits in the first quarter of this year, up from £235m in Q1 2008 and £251m in the last quarter of 2008. The group also revealed that revenues were up 24 per cent.
Abbey says gross UK mortgage lending is also up to 15 per cent for the group, up 1.4 per cent on annual figures – Abbey controls 13.1 per cent of the market while A&L controls 1.9 per cent, totaling £160bn in stock.
The group also increased business lending by 8 per cent on Q1 2008 figures, lending £133bn overall during the year.
Santander UK chief executive Antonio Horta-Osorio says: “We have made a vert strong start to 2009 with significant growth in profit and revenues. This is an excellent performance delivered in the toughest of economic environments.
“We have increased mortgage and small business lending demonstrating our ongoing support for the UK economy. I am prudently optimistic about our business prospects for the remainder of the year, and we continue to benefit from the strength and backing of Santander.”