Spanish bank Santander provided 20pc of all UK mortgages

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Spanish bank Santander provided 20pc of all UK mortgages


News Article Date: Friday 30th of April 2010

The figures emerged as Santander published its results for the first quarter of 2010, which showed a 15pc increase in the bank's profits from its UK operations, which made a total of 426m in the first three months of the year, with deposits growing by 4pc. Total outstanding UK mortgages issued by Santander stood at 162bn at the end of last month, up 5pc on one year ago, with the bank making 20pc of gross new mortgages. The market remains wary about Santander and Execution Noble banks analyst Joe Dickerson kept the bank on a "sell" rating, pointing to the contraction in Spanish lending. Worries have also increased over the downgrade of Spanish sovereign debt on Tuesday
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