(FCA COMPLAINTS DATA – 1 July – 31 December 2018)
Figures published today by Santander UK show there were 167,820 complaints received by the bank during the second half of 2018, a 13 per cent decrease on the number reported for the first half of 2018.
A drop in the number of complaints received was seen across all areas of the bank, while banking and credit cards and home finance saw more complaints being resolved within three days.
A full breakdown of the complaints received can be seen in the following chart1:
|Number of complaints opened by volume of business|
|Product /Service Group||Provision (at reporting period end date)||Intermediation (within the reporting period)||Number of complaints opened||Number of complaints closed||Percentage closed within 3 days||Percentage closed after 3 days but within 8 weeks||Percentage Upheld||Main cause of complaints opened|
|Banking & Credit Cards||4.7 per 1000 accounts||N/A||120,958||121,166||80%||20%||40%||Other general admin / customer service|
|Home Finance||7.3 Per 1000 balances outstanding||N/A||8,856||8,933||57%||42%||55%||Other general admin / customer service|
|Insurance & Pure Protection||60.4 Per 1000 policies in force||N/A||34,423||35,049||1%||98%||64%||Unclear guidance / arrangement|
|Decumulation & Pensions||N/A||N/A||63||61||18%||70%||33%||Unsuitable advice|
|Investments||3.3 per 1000 client accounts||N/A||959||909||2%||83%||31%||Unsuitable advice|
|6.9 per 1000 loans||N/A||2,561||2,561 2,548||N/A||N/A||52%||N/A|
Reza Attar-Zadeh, Head of Customer Interactions at Santander said: “Santander is committed to delivering an exceptional experience for our customers and it is encouraging to see the efforts of everyone at the bank reflected in the latest complaints statistics.
“However, there is always more work to do and we will continue to review how we could do things better for all of our customers in future.”
- Ends -
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Notes to Editors:
1We put the complaints figures into context using ‘per 1000’ metrics so that comparisons can be made across firms of different sizes.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2018, the bank has c23,800 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 64 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of 2018, Banco Santander had EUR 981 billion in customer funds (deposits and mutual funds), 144 million customers, 13,000 branches and 200,000 employees. Banco Santander made attributable profit of EUR 7,810 million in 2018, an increase of 18% compared to the previous year.
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