Pushing further into the UK mortgage market has helped Santander reap profit of £1.4bn over the first nine months of the year.
Nathan Bostock, Santander’s chief executive in the UK, said: “We have built on our position as the UK’s third largest retail mortgage provider, delivering £5.2bn of net mortgage growth in a competitive market as well as an increase in customer deposits.”
The lender, Britain’s fifth biggest bank and the UK arm of Spain’s Santander, produced results which were better than market expectations. Pretax profit for the nine months to 30 September jumped to £1.4bn from £299m.
