National: Good result in the banking sector
- Credit: Archant
Success for Santander in the UK
Santander’s UK arm reported pre-tax profits of £416 million in the first quarter of the year, up 48% on a year ago as bad debt provisions continued to fall.
It provided £5.7 billion of mortgages, including £1 billion to first time buyers and £62 million under Help to Buy.
Lending to UK corporates rose to £22.9 billion, up 12% from a year ago, with £1.1 billion of gross lending to SMEs.