Santander closing 111 bank branches across the UK, with 840 roles affected March 25, 2021 Santander closing 111 bank branches across the UK, with 840 roles affected
Ranked: Monzo tops list of best UK banks as digital services thrive February 15, 2021 Digital fintechs Monzo and First Direct provide better service to customers than traditional banks, according to a recent survey. Ipsos MORI conducted a review of around 1,000 customers from each of the 19 biggest personal current account providers in the UK to rank the best and worst banks. The findings are designed to compare the [...]
Millions of NatWest customers to see Visa debit card switch to Mastercard February 4, 2021 Millions of NatWest customers will see their debit cards switch as the British bank plans to start using Mastercard over Visa, despite Mastercard’s plans to hike EU fees. NatWest has become the latest bank to adopt Mastercard, which has prior agreements with Santander UK, HSBC’s First Direct and Monzo. The move will divert around 16m [...]
Santander records biggest loss ever as pandemic bites and profits plunge February 3, 2021 Santander recorded its first ever annual loss today, as €1.14bn restructuring costs overshadowed positive core banking results in the fourth quarter. Net profit plunged 90 per cent to €277m in the quarter versus the same period a year earlier, below the €411m average forecast from analysts polled by Reuters. The annual net loss was €8.77bn [...]
SMEs do not expect to be back at pre-pandemic levels until next year January 26, 2021 Small businesses have been left in financial ruin due to the pandemic, with one in 12 unsure they will ultimately survive, according to new research. The data from Santander found that 21 per cent of small businesses expect they may collapse before any changes in restrictions kick in. Those who will survive, do not expect [...]
Santander rebounds from historic loss as loan repayments pick up October 27, 2020 Santander returned to profit in the third quarter following a historic loss, upgrading its full-year forecasts as customers began to recover from the initial impact of Covid-19. Net profit at the Spanish lender trebled in the third quarter to €1.75bn compared to 2019, when Santander was hit by a large writedown in the value of [...]
Coronavirus pushes Santander to €11bn loss July 29, 2020 Santander suffered a record loss of €11bn (£10bn) in its latest half-year, it revealed today, as coronavirus provisions tanked its bottom line. The figures A massive €12.6bn impairment relating to coronavirus meant Santander swung to a €10.8bn loss for the first half of 2020. Underlying profit before tax halved to €3.8bn year on year. And [...]
Santander first quarter profit plunges 82 per cent on coronavirus April 28, 2020 Spain’s Santander bank posted an 82 per cent year-on-year slump in quarterly net profit todayas it booked higher provisions for expected credit losses from the coronavirus outbreak. The Eurozone’s second-largest bank by market value reported a profit of €331m (£288.5m) for the first quarter ended in March. Overall loan-loss provisions rose 80 per cent after [...]
Santander issues first end-to-end $20m blockchain bond September 12, 2019 Santander said today it has become the first financial institution to digitise the process of issuing bonds on a public blockchain. The Spanish banking giant used the public ethereum blockchain to tokenise the bond securely and register it on the blockchain – a sort of digital public ledger that can record transactions in close to [...]
Santander accused of circumventing professional PPI claims firms September 11, 2019 Professional claims managers have accused Santander of trying to minimise its PPI payments after the bank started going above their heads, dealing directly with customers. The bank confirmed it was talking to customers, skipping the claims management companies (CMCs) to save time on the process. Read more: Lloyds suspends share buyback as PPI costs rise [...]