National: Good result in the banking sector

Modern-town-houses

- 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.

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