Abbey and Alliance & Leicester parent Santander today said pre-tax profits rose by more than 30% in a “very good” first half performance.
The Spanish bank’s UK operation – which now includes A&L, Abbey and the savings business of Bradford & Bingley – saw revenues rise by over 20% in the six months to June 30.
Santander reported improving conditions in lending and bad debts, with second quarter bad debt charges in line with the previous three months and a drop in the number of homes being repossessed.