Santander UK pre-tax profits fell 31% in H1 2024 due to lower mortgage lending and higher savings rates.
Santander UK reported a 31% slump in first-half 2024 pre-tax profits to £804m due to reduced mortgage lending and higher savings rates. The bank's net interest income fell 11%, with profits decreasing 6% quarter-on-quarter but increasing 52% year-on-year. Santander UK CEO Mike Regnier said the results were in line with expectations and anticipates "tailwinds" from pricing actions in the second half of 2024.
July 24, 2024
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