Abbey National owner Santander has reported profits for the first six months of the year up by 6 percent compared with the same time last year.
If a one off figure was removed from the figures then the actual profit generated by Santander, best known in the UK as the owner of the Abbey National, would have been a much higher 22 percent. This figure is also higher than analysts had predicted, although shares still traded down slightly on the day.
Santander are very much a global business, with connections to most parts of the world. This enables them to find many more opportunities to create profitable business since they are not tied to just one market. However even the Abbey National delivered good results for them, something that could not always have been expected with the economic situation currently facing UK businesses.
The 8.5 percent interest rate offer on the Alliance and Leicester Premier 50 and Premier Direct current accounts is being extended for a further 3 months such has been its popularity.
The high interest rate is guaranteed for the first year of having the account, which also provides a 0 percent overdraft option, again for twelve months. An Alliance and Leicester spokesperson suggested that people could earn a significant amount of extra interest by swapping to these current accounts as well as saving on overdraft charges.
As a nation we tend to stick with the same accounts, with 80 percent of current account holders having been with the same one for five years or more so perhaps this Alliance and Leicester offer can change that, for the benefit of the customer.
HSBC is continuing its progress towards acquiring the sixth biggest lender in South Korea, KEB, as it signs an agreement with the labour union.
The bank has already offered USD6.3 billion to KEB for a controlling interest, with this offer set to expire at the end of July. The HSBC has promised to retain all the staff and identity of the Korean bank and is hopeful that this latest agreement with the union will enable them to move forwards.
HSBC has always been seen as a global bank and this latest position highlights that fact. The bank really understands the needs of different cultures, aided by the fact that they work with the existing staff.