Santander’s UK profits up

Spanish banking giant Santander profits at its UK banks have risen by more than third during the first nine months of the year.

Santander owns the Abbey, Alliance & Leicester and Bradford & Bingley banks.

These UK businesses made 1.3 billion euros, 38% more than a year earlier.

Overall, Santander posted a small drop in nine-month net profits as it boosted provisions for an expected rise in bad debts from Spainàs housing boom hangover.

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tags: Banking, Profits, Santander