Santander beats forecasts following strong UK performance October 27, 2021 Spanish bank Santander smashed profit expectations for the third quarter driven by robust lending activity in its mortgage unit. The lender pulled in more than £1.4bn in pre-tax profits in the year to September, up nearly 400 per cent. Over the same period last year, profits were just £299m. A red hot UK housing market, [...]
Come dine with me: Johnson to host dinner for business leaders October 16, 2021 Prime Minister Boris Johnson is expected to host a dinner with some of the business world’s leading players – including Bill Gates and JP Morgan’s chief executive Jamie Dimon – reported the Telegraph. Invited to Downing Street, the 20 business leaders will be joined by the Prime Minister and the foreign secretary Liz Truss for [...]
Office commuters boost TfL’s cycle hire numbers for September October 7, 2021 Workers returning to the office after the UK Government eased restrictions helped Transport for London’s (TfL) bicycle hire scheme jump to more than a million total hires, registering the highest September in the scheme’s 11 year history. Data from TfL showed that more than 40,000 people used the service every day, with an average of [...]
Santander US to snap up remaining stake in consumer unit for $2.5bn August 24, 2021 Santander’s US division is set to buy the minority stake in its American consumer unit for $2.5bn. Snapping up the remaining 20 per cent of the business, the deal values the entire Santander Consumer US unit at $12.7bn, the bank said in a statement. Santander offered some $41.5 per share – a 6.4 per [...]
Pandemic support: Santander UK to rollout cash flow management app for SMEs August 4, 2021 Santander UK has begun rolling out an app that helps smaller companies track their cash flow and invoices, as lockdown gave way to a boom of new small businesses. The app, called CashFlow Manager, will let clients have a ‘single view’ of various account balances and transactions across their different banks. It also analyses each [...]
Santander boss Ana Botin defends Andrea Orcel CEO offer as top bankers face off in court May 19, 2021 Santander boss Ana Botin defended the bank’s actions in a court hearing in Spain today over the withdrawal of an offer more than two years ago to make Italian banker Andrea Orcel its chief executive. The very public row, which has offered a rare glimpse into the inner workings of a top bank, ended up in [...]
Santander UK customers hit by technical problems May 15, 2021 Santander customers in the UK are currently unable to withdraw money from the Spanish bank’s cash machines or access online services due to a technical problem. The lender, which has around 14m customers in Britain, said that the issue was affecting branch, telephone, online app and card services. “We’re aware of a technical issue affecting [...]
City Moves: Who’s switching jobs in the Square Mile this week? April 28, 2021 Morning Wire‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. Cazoo bolsters board after $7bn NYSE listing After its $7bn New York Stock Exchange listing through its AJAX merger, UK online car retailer Cazoo has confirmed that a new non-executive director [...]
Santander UK profit soars two-thirds April 28, 2021 Santander UK hailed a “strong” set of results this morning as profit before tax rose nearly two-thirds in the first quarter. The bank said that pre-tax profit was up 61 per cent, jumping from £114m to £184m over the three month period. It added that its return on tangible equity (RoTE), a key metric, was [...]
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