Santander UK profits take 21% hit on ‘competitive pressures’

Santander UK has blamed "ongoing competitive pressures" for a 21% fall in first quarter pre-tax profits to £414m. Santander said the UK business, while growing customers, was suffering the effects of the slower economy and weak interest rate environment with fee income falling 2% on the first

 · Santander still counting cost of Carillion collapse as profits take another hit. The hit helped knock Santander UK’s pre-tax profits 21pc to £414m for the first three months of the year.

 · You either hold prices and take a hit to your profits. Or you try to preserve your profitability by either passing on the higher costs to customers or by cutting costs elsewhere in.

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Carillion plc was a British multinational facilities management and construction services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation – officially, "the largest ever trading liquidation in the UK" – which began in January 2018. "Banking giant Santander's UK profits plunge 21% after taking hit from.

Banking giant Santander’s UK profits plunge 21% after taking hit from collapse of construction giant Carillion. The Spanish-owned group said it took another hit from last year’s collapse of.

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. posted a 15pc fall in pre-tax profits to £903m for the first six months of the year. Santander said UK conditions were “competitive and uncertain”, with particularly intense competition in.

Santander UK’s profits fell 14.7 per cent to 1.68bn (1.44bn) in 2016, driven by a weakening pound and a new ban tax surcharge. Accounting for currency movement in 2016 the drop was 4 per cent. Additionally, Santander says an 8 per cent bank corporation tax surcharge hit UK profits.

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"Elliott is acting as a pure financial investor, that is to say using an opportunistic approach to take advantage of the 45% drop in. incumbents and operates in one of the continent’s most.

 · Banco Santander, S.A. (NYSE: SAN). In the United Kingdom, our business was carried out against the backdrop of very strong competition, particularly in mortgages and.

HIGH street banking giant Santander has seen UK profits tumble 15 per cent as the group. But the group saw an improvement in charges in the third quarter as it took no further hit from the payment protection. He added: "Our results reflect competitive income pressures and higher. 21 March – 20 April.

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