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PPI claims: Santander reveals drop in complaints volume

Santander has revealed a drop in the number of complaints issued against it in 2011, including those dealing with Payment Protection Insurance (PPI) claims.

The amount of issues relating to banking that were reportable to the Financial Services Authority (FSA) declined 27 per cent in 2011 when compared with 2010 figures, with the overall volume of complaints falling 19 per cent.

It pointed out it was the only mainstream bank to shun the British Bankers Association's legal action on PPI refunds, deciding to continue processing them instead.

This meant PPI claims did not impact Santander's complaints ratio over this timeframe as significantly as they affected some of its competitors.

For example, Barclays Bank realised a 102 per cent year-on-year increase in customer problems relating to general insurance and pure protection as a result of the PPI scandal.

Director of customer experience for Santander John Wren said: "The 27 per cent reduction in the number of banking complaints reported to the FSA for 2010 to 2011 is the result of listening to our customers."

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801304881-ADNFCR



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