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Bank giant Santander's profits rise

Jul 29 2009

Abbey and Alliance & Leicester parent Santander has said pre-tax profits rose by more than 30% in a "very good" first half performance.

The Spanish bank's UK operation - which now includes A&L, Abbey and the savings business of Bradford & Bingley - saw revenues rise by over 20% in the six months to June 30.

Santander rgeported improving conditions in lending and bad debts, with second quarter bad debt charges in line with the previous three months and a drop in the number of homes being repossessed.

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