Citigroup to sell China consumer wealth business to HSBC October 9, 2023 Citigroup said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets under management (AUM) and deposits, to Asia-focused HSBC Holdings Plc. The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction [...]
Metro Bank: Natwest, Lloyds and Santander UK consider buying parts of lender – report October 8, 2023 The Bank of England has reportedly been canvassing some of the UK’s most high profile banks to gauge their interest in purchasing Metro Bank.
Metro Bank: Bank of England approached UK lenders to gauge interest in troubled bank October 8, 2023 The Bank of England's Prudential Regulation Authority approached a number of big UK lenders this week to see if they had any interest in taking over British lender Metro Bank, the Financial Times reported.
US banks prep results as lenders adjust to higher-for-longer rates outlook October 8, 2023 Investors will be keeping a close eye on how US banks are adjusting to the new higher-for-longer interest rates outlook this week, as a host of major American lenders line up to deliver their latest financial results.
Metro Bank rejected takeover approaches from rival lender Shawbrook October 7, 2023 Metro Bank has rejected a series of takeover approaches from specialist business lender Shawbrook, including one made in the second half of September.
Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Metro Bank bosses summoned for meeting with City watchdogs after share price slump October 5, 2023 The bosses of Metro Bank have been called in to emergency meetings with the UK's financial watchdogs after its shares slumped over 20 per cent this morning.
Metro Bank shares tumble on reports it needs £600m to shore up balance sheet October 5, 2023 Metro Bank shares tumbled by more than 20 per cent this morning after reports that the challenger is in talks to raise hundreds of millions of pounds in an effort to shore up its balance sheet. Metro has reportedly hired bankers at Morgan Stanley and Moelis to raise £600m in extra financing, which includes £250m [...]
Six high-street banks including Santander, Barclays, HSBC, NatWest and Lloyds given ‘red’ warning over eco policies October 5, 2023 Six of the UK’s biggest high-street banks have been placed in a “red” warning category by consumer champion Which? over their fossil fuel investments and commitments to tackling climate change. JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were exposed for having too weak green credentials. Just three of the UK’s [...]
Financial services firms optimistic for remainder of the year despite dip in output October 5, 2023 Financial services activity dipped in the third quarter but firms were hopeful that volumes would pick up again in the last quarter of the year.