SANTANDER UK PLC
Company Information
- Company Number
- 02294747
- Registered Address
- 2 Triton Square, Regent's Place, London, NW1 3AN
- Status
- Active
- Employee Count
- 19.0
- Turnover
- 12556000.0
- EBITDA
- 2813000.0
Additional Details
- Website
- https://abbey.com/
- Company Type
- Public limited Company
- Incorporated On
- 12 September 1988
- Nature of Business
- 64191 - Banks$82990 - Other business support service activities not elsewhere classified
- Industries
- Financial Services,Professional Services,Property,Infrastructure And Construction
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 16 | 88% | 7% | 5% | 14% |
| 01 Jan 2023 - 30 Jun 2023 | 18 Aug 2023 | 20 | 77% | 18% | 5% | 25% |
| 01 Jul 2022 - 31 Dec 2022 | 16 Feb 2023 | 15 | 92% | 5% | 3% | 9% |
| 01 Jan 2022 - 30 Jun 2022 | 02 Aug 2022 | 16 | 85% | 12% | 3% | 84% |
| 01 Jul 2021 - 31 Dec 2021 | 09 Feb 2022 | 13 | 94% | 4% | 2% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 02 Aug 2021 | 21 | 81% | 13% | 6% | 20% |
| 01 Jul 2020 - 31 Jul 2020 | 08 Feb 2021 | 15 | 91% | 6% | 3% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 22 | 81% | 14% | 5% | 20% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 20 | 92% | 6% | 2% | 9% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 26 | 81% | 12% | 7% | 19% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Feb 2019 | 21 | 89% | 7% | 4% | 12% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 22 | 87% | 9% | 5% | 14% |
Company Summary
SANTANDER UK PLC is a leading financial institution in the United Kingdom, offering a wide range of banking and financial services to individuals and businesses
As a part of the global SANTANDER Group, the company has a strong commitment to sustainability and responsible business practices
The company's sustainability program focuses on three key areas: responsible banking, responsible business, and responsible citizenship
It aims to promote economic growth, protect the environment, and support local communities through various initiatives and partnerships
SANTANDER UK PLC offers a variety of products and services, including current and savings accounts, mortgages, loans, credit cards, and insurance
They also have a digital banking platform, which allows customers to manage their finances conveniently
The key people in SANTANDER UK PLC include the Chairman, Shriti Vadera, and CEO, Nathan Bostock, who are responsible for the overall management and strategic direction of the company
To contact SANTANDER UK PLC, customers can visit their website at www.santander.co.uk or call their customer service number at 0800 9 123 123
The company's registered office address is 2 Triton Square, Regent's Place, London, NW1 3AN
Company Review
Trend Analysis
The average time to pay for SANTANDER UK PLC has fluctuated over the past three periods, with a peak of 26 days in 2019 and a low of 13 days in 2021. However, there has been an overall decrease in the average time to pay over the past three periods, with a decrease of 6 days from 2018 to 2021.
Volatility Analysis
The volatility of SANTANDER UK PLC's average time to pay has also decreased over the past three periods, with a standard deviation of 3.3 days in 2018, 2.6 days in 2019, and 2.1 days in 2021.
Summary Analysis
From 2018 to 2021, SANTANDER UK PLC has shown an overall improvement in their payment practices, with a decrease in the average time to pay from 22 days to 13 days. They have also increased the percentage of invoices paid within 30 days from 81% to 94%. In 2022, there was a significant increase in the percentage of invoices paid later than 60 days, which could indicate potential issues with cash flow or supplier relationships. However, this was addressed in the following period with a decrease in this percentage to 5%.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Santander UK payment terms are 30 days. There are no contracts for which there are longer payment terms and there have been no changes to this arrangement in the period. There are a small number of suppliers with Santander UK for which we have 14 days payment terms, these were agreed as part of specific contract negotiations.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
If a supplier has a dispute regarding payment, there is an established escalation and investigation process in place. Should the supplier remain unhappy at the outcome of the initial escalation and investigation, they can refer the matter to an independent body. Information regarding this process is included in the standard contract terms.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
