Surge in loan-loss reserves poison Santander profits uk banks 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 Santander 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. [...]
‘Worrying rise’ in crypto scams claiming to be celebrity endorsed, Santander says crypto scams Santander Cryptocurrency scams falsely claiming to be endorsed by celebrities are surging, Santander warned. “We’re seeing a worrying rise in ‘celebrity-endorsed’ cryptocurrency scams, where familiar faces are being misused on social media in order to con people out of often life-changing sums of money,” said Chris Ainsley, the bank’s head of fraud risk management in the UK. He warned [...]
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]
Santander lures Barclays veteran Jane Galvin away from HSBC in banking war for top talent January 10, 2022 Santander UK announced this morning the appointment of Jane Galvin as Head of Corporate Clients within its Corporate and Commercial Banking (CCB) division. Galvin, a City heavyweight who made a name for herself during three decades at Barclays, will start at the beginning of February and will report directly to CCB head Tim Hinton. She [...]
Former Yorkshire Building Society chief Mike Regnier becomes Santander UK’s new CEO November 29, 2021 Santander UK announced this morning that Mike Regnier will become the bank’s new chief executive officer.. Regnier joins Santander from Yorkshire Building Society, where he has been CEO since 2017 and prior to that Chief Commercial and Chief Customer Officer. Santander said in a statement he has over 25 years’ financial services and retail experience [...]
Santander beats forecasts following strong UK performance October 27, 2021 Spanish bank Santander smashed profit expectations for the third quarter driven by robust lending activity in its mortgage unit. The lender pulled in more than £1.4bn in pre-tax profits in the year to September, up nearly 400 per cent. Over the same period last year, profits were just £299m. A red hot UK housing market, [...]
Come dine with me: Johnson to host dinner for business leaders October 16, 2021 Prime Minister Boris Johnson is expected to host a dinner with some of the business world’s leading players – including Bill Gates and JP Morgan’s chief executive Jamie Dimon – reported the Telegraph. Invited to Downing Street, the 20 business leaders will be joined by the Prime Minister and the foreign secretary Liz Truss for [...]
Office commuters boost TfL’s cycle hire numbers for September October 7, 2021 Workers returning to the office after the UK Government eased restrictions helped Transport for London’s (TfL) bicycle hire scheme jump to more than a million total hires, registering the highest September in the scheme’s 11 year history. Data from TfL showed that more than 40,000 people used the service every day, with an average of [...]
Santander US to snap up remaining stake in consumer unit for $2.5bn August 24, 2021 Santander’s US division is set to buy the minority stake in its American consumer unit for $2.5bn. Snapping up the remaining 20 per cent of the business, the deal values the entire Santander Consumer US unit at $12.7bn, the bank said in a statement. Santander offered some $41.5 per share – a 6.4 per [...]