Santander’s UK profits were up 14 per cent over 2015 with the UK attributable profit for the group standing at £1.43bn.
Santander’s results for 2015, which were posted today (27 January), showed lending grew 5 per cent over the year and customer funds grew by 6 per cent.
Santander’s results also revealed that the loan portfolio stood at €277,718m (£210,520m) at the close of 2015, with growth of 5 per cent for the year, an 11 per cent increase when converted to euros due to the appreciation of the pound.
This performance is backed by financing to companies which grew 10 per cent, the mortgage business up 2 per cent and consumer and auto finance which increased 42 per cent.
Additionally, the volume of deposits and mutual funds in the UK reached €231,960m (£175, 926m) and grew for the year 6 per cent in pounds and 13 per cent in euros.
However Spain’s largest bank also announced it had put aside an extra £450m (€600m) to cover an expected increase in claims over the next two years from British customers who were allegedly mis-sold PPI policies.
Ana Botin, group executive chairman of Banco Santander, said: “In 2015, we have delivered ahead of plan in the right way, growing revenues by improving customer service and increasing loyal and digital customers.
“Growth in underlying revenues and profits has resulted in a return on tangible equity of 11 per cent, which has allowed us to pay 79 per cent more cash dividend per share, increase the net asset value of our shares by 3 per cent and strengthen our capital position organically - thereby delivering on commitments we made when we raised capital last year.
“We continued to help our clients, both individuals and businesses, prosper through access to credit, which grew 6 per cent. During 2015 we also executed on our commercial transformation to become more simple, personal and fair.
“We are confident that we will reach the targets we set for 2016.”
ruth.gillbe@ft.com
