Santander posts 40% profits fall

Press Association
Santander sign
Santander sign

Banking group Santander has revealed a 40% drop in UK profits but hailed its success in increasing support to small and medium sized firms (SMEs).


The group's UK arm loaned £4.3 billion to SMEs in the year to December 31, which was higher than its £4 billion target in the Project Merlin deal with the Treasury.