Home Business NewsBusinessBanking News Santander profits take a £169m hit over PPI claims

Santander profits take a £169m hit over PPI claims

by LLB Reporter
30th Oct 19 10:16 am

Santander UK has profits have fallen over PPI mis-selling in the first nine months of the year.

Pre-tax profits plummeted by 43% to £785m as Santander took a PPI charge of £169m.

Santander’s chief executive Nathan Bostock said, “Our profitability for the first nine months of 2019 has been impacted by ongoing competitive income pressure, additional PPI costs as well as transformation programme investment.”

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