(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 GroupProvision (at reporting period end date)Intermediation (within the reporting period)Number of complaints openedNumber of complaints closedPercentage closed within 3 daysPercentage closed after 3 days but within 8 weeksPercentage UpheldMain cause of complaints opened
Banking & Credit Cards4.7 per 1000 accountsN/A120,958121,16680%20%40%Other general admin / customer service
Home Finance7.3 Per 1000 balances outstandingN/A8,8568,93357%42%55%Other general admin / customer service
Insurance & Pure Protection60.4 Per 1000 policies in forceN/A34,42335,0491%98%64%Unclear guidance / arrangement
Decumulation & PensionsN/AN/A636118%70%33%Unsuitable advice
Investments3.3 per 1000 client accountsN/A9599092%83%31%Unsuitable advice

Credit Related

6.9 per 1000 loansN/A2,5612,561 2,548N/AN/A52%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.

Media Enquiries
Samantha Wrench      T:020 7756 4209      M: 07544 158 565      E: samantha.wrench@santander.co.uk

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