Santander £20bn IPO could come this year

Speculation is mounting that Santander could be set to launch a £20bn stock market listing of its UK business as the Spanish bank looks to raise new money after a spate of acquisitions. Santander UK, which comprises the former businesses of Abbey, Alliance & Leicester, Bradford & Bingley, could be floated on the London market as early as this year, according to some observers. Arturo de Frias, banks analyst at Evolution Securities, said now was a good time for Santander to float its UK operations and said a listing could come "sooner rather than later". "The profitability is good and Santander has done a very impressive job of turning around the performance of these businesses," he said.

Source : Daily Telegraph page B5 - 16.09.10

Leeds Building Society has revealed a pre-tax profit of £18 million

Leeds Building Society has revealed a pre-tax profit of £18 million in the first half of 2010, a 10% increase on the same period a year earlier.

CFS rise in mortgage sales

A strong year for the mortgage business at The Co-operative Bank and Britannia has been predicted after the lenders reported a 31% increase in like for like mortgage applications in the first half of 2010.

January cheaper property sales hit by end of stamp duty holiday

House purchase loans fell by more than three times the decline in remortgages in January, according to data released today by the Council of Mortgage Lenders. This emphatically demonstrates the effect on the mortgage market from the end of the temporary stamp duty holiday in December.

There were 49% fewer house purchase loans in January than in December but only 15% fewer remortgage loans.

Taken from CML press release: http://www.cml.org.uk/cml/media/press/2571