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Santander UK announces Full Year 2019 results
“Our 2019 results were impacted by the ongoing competitive income pressure on mortgages and PPI charges, but they also include the investment we are making as part of our plan to transform the bank for the future. We have continued to support our customers and I am pleased that we delivered our strongest net mortgage growth in a decade, reinforcing our position as the UK’s third largest mortgage lender. We also successfully grew customer deposits across the business, driven by our focus on delivering great products and service, including an enhanced digital offering.”
“The environment for the banking sector remains challenging, with ongoing competitive pressures and a demanding regulatory agenda. However, the increased political certainty will be welcomed across the business community. We have taken decisive steps in 2019 to progress our strategic priorities and our focus on cost efficiency is starting to deliver tangible benefits. We are confident in our ability to succeed by providing our customers with an experience that is second to none and through a relentless focus on improving our efficiency and competitiveness. We are embedding sustainability across our business and in everything we do and we remain well-placed to meet our medium-term goals.”
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