Santander lent one in five UK mortgages in quarter three
Spanish banking giant Santander wrote one in five UK mortgages in quarter 3 and increased its UK profits by 13% to £1.3 billion. The bank had gross mortgage lending at £6.9 billion, taking the total for the year to £19.2 billion.
Santander, which owns Abbey and the rebranded Alliance and Leicester and Bradford & Bingley brands currently has a stock share of 14% of the mortgage market. Overall, the bank saw a drop in profits in quarter 3, 2010 of 13% to 2.1 billion Euros.
The Clydesdale and Yorkshire Bank have announced that they have increased their mortgage lending by 4% in the twelve months to September 2010. New lending of £4.7 billion was advanced in the year including £2.7 billion of business lending and £1.7 billion of mortgage advances.
National Australia Bank, owner of the two banks says that they are on track to meet the pledge it made last year to make £10 billion of new lending available to support business and personal customers by October 2011.
October 29, 2010
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