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Nationwide, Santander, TSB and Virgin Money probed over ‘measly’ savings rates May 10, 2023 An influential parliamentary body has expanded its inquiry into the low savings rates paid by the UK’s retail banks, describing the current rates on offer as “measly”. Having investigated the UK’s four largest retail banks, MPs at the Treasury Committee have now sent letters to Nationwide, Santander, TSB and Virgin Money. These lenders account for [...]
Santander UK profits rise but lender bracing itself for house price fall April 25, 2023 Santander’s UK division was boosted by higher interest rates but the bank remained cautious looking forward, suggesting house prices could fall ten per cent taking them back to 2021 levels. The Spanish bank’s UK business saw its pretax profit climb 11 per cent to £547m as higher interest rates continued to bolster its performance. Santander’s [...]
Banking stocks on course for another good day as fears of global crisis recede: Most in green… apart from UBS March 22, 2023 European banking stocks were on course for another strong morning on Wednesday after a rollercoaster couple of days for the sector induced by Credit Suisse’s buy-out by UBS. Most European banks were in the green on Wednesday: SocGen was up 2.5 per cent, BNP Paribas 1.5 per cent, Deutsche Bank 1.2 per cent and Santander [...]
Santander shares soar five per cent as lender bets on Europe to boost pay-outs and ‘ambitious’ profit targets February 28, 2023 Santander plans to return half its profits to shareholders after announcing “ambitious” profitability targets for the next three years. The Spanish banking giant said it was betting on customer growth and higher interest rates in Europe to boost its revenue. Santander has previously relied on its Latin American presence to offset the tough conditions experienced [...]
Warning of ‘marked slowdown’ in mortgage lending from Santander UK chief as bank’s profit creeps up two per cent February 2, 2023 Santander UK’s net mortgage lending climbed higher in 2022, helping to boost profits, but its CEO warned that the bank would have to navigate “a marked slowdown” in mortgage lending in 2023. The Spanish bank’s net mortgage lending increased to £9.8bn from £7.5bn last year helping pretax profit creep up two per cent. CEO Mark [...]
Santander launches buy-now pay-later offering that could be a ‘game changer’ for cash-strapped corporates January 9, 2023 Santander has announced a push into the business-to-business (B2B) buy-now pay-later market today as it looks to tap into demand from a wave of corporate firms grappling with soaring prices.
Santander says graduates no longer need a a 2:1 or higher to work at the bank January 3, 2023 Santander said that changing the minimum qualification requirements of its graduate scheme would open the programme up to 64,000 more candidates each year. Recent graduates will no longer need an upper second or first-class degree from their university to apply for the high street bank’s post-university training scheme. The Spanish bank Santander’s decision echoes similar [...]
Santander slapped with £108m fine by FCA for anti-money laundering failures December 9, 2022 Santander has been fined more than £107m by the Financial Conduct Authority for anti-money laundering failures. The banking giant will have to pay £107,793,300 to the watchdog after it was found to have “serious and persistent gaps” stopping the scourge. FCA found that between 31 December 2012 and 18 October 2017, it didn’t properly oversee [...]
Surge in loan-loss reserves poison Santander profits July 28, 2022 Funds set aside to deal with an expected jump in loan defaults caused by borrowers’ being squeezed by a historic inflation surge has whacked Spanish bank Santander’s profits. The lender, which has a big presence in the UK, banked over €500m (£420m) in loan-loss reserves over the three months to June, up 25 per cent [...]
Santander hands out four per cent pay rises to help 11,000 workers manage cost-of-living crunch July 19, 2022 Santander today pledged to give four per cent pay rises to all 11,000 of its workers on salaries of less than £35,000 a year. The bank said the pay rises, which will be handed out to around 60 per cent of Santander’s entire workforce, are aimed helping its staff deal with the UK’s cost-of-living crisis. [...]