HIGH street bank Santander reported UK profits up by a fifth in the third quarter, but its Spanish parent warned that full-year results might suffer after a bad debt blow.
The group – an increasing force in UK banking after snapping up a raft of players including Abbey and Alliance and Leicester – saw pre-tax trading profits rise 20 per cent to £619m in the three months to September 30.
But the wider Santander group was hit by new rules in Spain forcing banks to bring forward charges for loan losses in their accounts, which it said would now see this year’s profits fall short of expectations.
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