Abbey reports strong mortgage lending growth
Wed, 29 Jul 2009
Santander banking group member Abbey, has reported healthy profits from their mortgage lending business, painting over the financial backdrop of doom and gloom.
The Santander owned bank reported a 30% lift in profits just shy of £800 million. The growing current of residential mortgage lending performance, has swept SME lending along for the ride bucking most lenders trend of cutting lending availability.
Whilst Abbey’s recent success’ should be hailed as a success, the governments is not keen on banks making large profits during these biscuits and water times and no doubt they will be scrutinising their profits over the coming weeks. Lets hope they don’t cut off their nose to spite their face.