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Evening Standard
Evening Standard
National
Holly Williams

Santander to cut costs further as profits rise despite another motor finance hit

Santander Banco Santander Santander UK TSB
Santander UK has revealed a hike in annual profits despite putting by another £183 million to cover costs of the motor finance mis-selling scandal and warned over further cost cutting over the year ahead (Alamy/PA) -

Santander UK has revealed a hike in annual profits despite putting by another £183 million to cover costs of the motor finance mis-selling scandal and warned over cost-cutting in the year ahead.

The Spanish-owned lending giant reported a 14% rise in pre-tax profits to £1.51 billion for 2025.

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