Santander, the Spanish banking group that owns Abbey, Alliance & Leicester and Bradford & Bingley, has announced a 58% rise in Sterling profits for the first 9 months of this year to £1.2BN.
Abbey's gross lending of £19BN represented 20.5% of the UK market, although it is 37% less than last year.
Santander is the eurozone's largest bank by market capitalisation.
However, Bradford & Bingley is going to split its good and bad assets (its balance sheet being £50BN), and sell the good assets to private buyers, in order to pay off its £18.4BN loan early.
The question is, what exactly is a "good" asset and what is a "bad" asset?