Santander has seen its gross-lending market share in the U.K. drop to 14.4% in the first quarter compared to 20% a year earlier. The Spanish bank reported gross lending has declined since peaking at £6.9 billion ($11.5 billion) in the third quarter of last year. It saw £5 billion ($8.31 billion) in the fourth quarter and £4.2 billion ($7 billion) in the period ending March 31. It says the decline is the result of lack of demand, not because of the bank’s lack of appetite to lend.