Bloomberg News

Santander U.K. Says it Beat Business Lending Target in 2011

January 31, 2012

Jan. 31 (Bloomberg) -- Santander U.K. Plc said it provided 4.3 billion pounds of loans to businesses in Britain in 2011, exceeding a lending target agreed with the government.

The target was 4 billion pounds, Santander said in a statement today. Net income declined by more than 40 percent to 993 million pounds from 2010 because of a provision for customers who were sold so-called payment protection insurance, Santander said.

To contact the editor responsible for this story: Jon Menon at jmenon1@bloomberg.net


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