SANTANDER says it has delivered a "strong financial performance" over the first half of this year.

The bank, which has a head office in Nelson Street, Bradford, has posted the results for 2021 so far despite the ongoing challenges of the coronavirus pandemic.

It says its profit from continuing operations before tax was up 407 per cent to £751 million. This compares to £148m for the same six-month period during 2020.

Customer loans increased by £1.2billion over the first half of 2021, with a £3.6bn increase in mortgages over the same six-month period.

Operating income is up 23 per cent and adjusted operating income increased by 18 per cent, which the firm says is driven by higher net interest income following deposit repricing.

The Quarterly Management Statement results, published today, are for the six months to June 30 this year.

Nathan Bostock, Santander's chief executive officer, was pleased with the bank's results but says uncertainty remains as the UK enters a new phase in the pandemic.

He said: “We have delivered another strong financial performance while continuing to support our customers, colleagues and communities through the challenges of the pandemic.

"The results are testament to the hard work of our teams and reflect the strategic decisions we have taken over recent years as well as the economic recovery.

“We have delivered good growth in net interest income and strong mortgage lending.

"At the same time, we have continued to focus on enhancing our customer experience and improving efficiency.

“Looking ahead, while we are encouraged by the UK’s strong economic recovery, uncertainty remains as we enter a new phase in the pandemic.

"The strength of our business, underpinned by our prudent approach to risk, means we are well positioned to grow and to continue to support our customers, fulfilling our purpose to help people and businesses prosper.”

The company also posted a £71m gain on sale of its UK head office site in London to its parent, following Santander's decision to invest in a new Milton Keynes campus.

The banking giant announced its plans to close 111 branches across the country, including Wibsey and Bingley, in March this year and said it was in response to the ongoing shift by customers towards mobile and online banking.

The trend has been accelerated by the pandemic, although branch transactions fell by a third over the two years before the virus crisis and declined by a further 50 per cent in 2020, said Santander.

Mobile and online transactions have been growing by 20 per cent each year, with almost two thirds of transactions now digital.

The firms says it expects to see its mortgage book grow broadly in line with the market during the rest of 2021.

Santander's deputy CEO, Tony Prestedge, has stepped down from the board and executive committee with immediate effect and will be leaving the company.