Banking News Abbey Savings Accounts See 70 Per Cent Increase In Deposits 2421

Abbey savings accounts see 70% increase in deposits

28 October 2008 / by Rebecca Sargent
Abbey has seen its deposit inflow increase 70 per cent year on year, with a total value of £4,300million as Brits rush to keep their savings safe.

Abbey is now owned by Spanish banking giant Santander which has also acquired Alliance & Leicester and the Bradford & Bingley savings book. As a result of various windfalls, the Santander Group has seen an increase in profit of 16 per cent.

It is for these reasons that Brits have been flooding Abbey savings accounts with their deposits in the hope that they will be safer with the banking giant than with other UK banks.

Written by Editorial Team