Santander issues major Wednesday update before £829 payouts to customers

Orientul Mijlociu

Santander UK has witnessed its profits plummet by 44% at the beginning of the year, it said on Wednesday. It comes after setting aside nearly another £180 million for the motor finance mis-selling scandal. The high street banking giant posted pre-tax profits of £202 million for the first quarter, down from £358 million twelve months earlier. Earnings took a hit from an additional £179 million provision for motor finance compensation alongside rising costs in the first quarter, bringing its

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