Abbey International Jersey parent reports strong growth during Q3

Santander UK, the parent of Abbey International in Jersey, has reported strong growth figures for Quarter 3 trading, with a 5% growth in revenues, whilst costs have been held flat. At the same time, results released by Santander Group show net interest income growing by 12% and net operating income, defined as the difference between revenue and costs, grew by 4% to €17,938. Across the Group, loans grew by 7% and deposits by 28%.

Underpinning the strength of the Group is a focus in geographical diversification, giving the Group a more balanced exposure to worked markets. This pattern has been maintained during Quarter 3, with Continental Europe contributing 37% of profit, of which 17% is represented by Spain, Latin America delivered 42% of Group profit, with Brazil representing 25% of this, whilst the UK contributed 18% and the USA 3%.

With a business model based on offshore multiple currency deposits and banking services, Abbey International’s performance figures are included within UK data, where deposits grew by 13% in Sterling terms. Deposits originating in Continental Europe grew by 42%, in Latin America, deposits grew by22%, with Brazil recording a 25% growth in deposits, expressed in Euros.

At the end of September 2010, Banco Santander was still the 10th largest bank in the world and largest in the Euro zone, as measured by stock market value. Santander had 3.1 million shareholders and the Group employed 176,471 staff serving more than 90 million clients through 13,907 branches, making Santander the international financial group with the most shareholders and largest branch network.

For further information on banking with Abbey International in Jersey call + 44 (0)1534 828 828 or log onto www.abbeyinternational.com



For further information on banking with Abbey International in Jersey call + 44 (0)1534 828 828 or log onto www.abbeyinternational.com