The UK arm of Spanish banking group Santander has seen revenues increase by 20% in the first half of 2009, the group includes Abbey, Alliance & Leicester and Bradford & Bingley building societies.
Santander say that a growing range of investments, credit cards and insurance and helped increase business in the UK operations of the banking group.
Prudent lending and asset buying has ensured that Santander have fared better than most through the financial crisis and are in a stronger position than many of it’s UK rival banks to improve their share of the market as and when the recession dictates.
The groups UK mortgage lending reached £10.8bn in the first six months of the year, claiming a16% share of the market, while repossessions fell during the same period.
The number of mortgage customers three months or more in arrears grew from 1.13% in the first quarter to 1.34% by the end of June, still better than industry average figures.
The UK operations of Santander reported a pre tax profit of £790million.
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