View more on these topics

Santander profits jump 15% in Q1

Santander has recorded a 15 per cent increase in profits in the first quarter of 2010, with the Spanish bank recording a £426m pre-tax profit.

The bank also saw an 8 per cent increase in revenue growth for the three months up to March 31.

Gross mortgage lending for residential mortgages stood at £5.7bn, which the bank estimates is equal to 20 per cent of the market. Small and medium-sized business lending was also up 18 per cent on the first quarter of 2009.

Santander UK chief executive Antonio Horta-Osorio says: “Our first quarter performance shows that our business model continues to deliver improved performance, increased market share and sustained profit growth. We are continuing to share the benefits of being the most efficient UK bank with our customers, offering better value for money products rewarding their loyalty through innovations like our Zero Current Account.

“The success of our rebranding is clearly demonstrated by further growth in mortgage lending and

customer deposits. We have also shown the strength of our SME proposition where we increased lending by over 18 per cent, up from lending growth of 16 per cent in 2009, showing our commitment to this essential sector of the UK economy.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com