Lloyds to slash office space as it resumes dividend despite 72 per cent profit drop February 24, 2021 Lloyds resumes dividend despite 72 per cent profit drop as it unveils wealth drive
GameStop fiasco: EU regulators to probe zero-commission stock trading February 23, 2021 Steven Maijoor, the chair of the European Securities and Markets Authority, confirmed today his regulatory body is looking into zero-commission trading. Addressing the Committee on Economic and Monetary Affairs of the European Parliament earlier today, Maijoor warned about the “gamification” of investing and stated that trading strategies designed to secure the price of a financial [...]
NatWest issues €1bn affordable housing bond in ESG push February 23, 2021 NatWest Group is issuing a €1bn affordable housing bond, the first of any kind issued by a UK bank. The proceeds of the bond will be allocated to non-profit housing associations which provide access to affordable housing. The selected associations provide affordable rent, supported housing and shared property schemes. They own around 150,000 units of [...]
HSBC results: Shift to Asia, office space slashed, dividend returns February 23, 2021 HSBC today said it plans to nearly halve its office space globally as part of a radical overhaul that will see the lender shift its focus to Asia. The bank will pump roughly $6bn (£4.3bn) into the region over the next five years, focusing mainly on its wealth management business in greater China as well [...]
Lloyds and HSBC: What to expect in next week’s earnings February 19, 2021 This week Barclays and Natwest announced a return to dividend payments but laid bare the extent of the pandemic on earnings. Barclays reported a 30 per cent drop in pre-tax profit to £3.1bn for 2020, while Natwest reported a pre-tax loss of £351m for the year. Next week it will be Lloyds and HSBC’s turn [...]
Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut February 19, 2021 Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut
“Some challengers don’t want to make a profit” says Cashplus boss February 19, 2021 With plans to raise external investment and a new chairman in tow, challenger bank Cashplus is going full steam ahead just weeks after securing its full banking licence. Earlier this month the Prudential Regulation Authority (PRA) granted Cashplus a full banking license. Like its digital peers, Cashplus offers current accounts for UK SMEs, currently serving [...]
Banks move to buy parts of NatWest’s Irish loan book February 19, 2021 Allied Irish Banks has entered a non-binding agreement to buy around €4bn of corporate and commercial loans from NatWest’s Irish outfit, while separate talks elsewhere are ongoing to buy other assets. This morning NatWest announced it will pull out of its operations in the Republic of Ireland, after reporting a £351m annual loss in 2020. [...]
NatWest tumbles to £351m loss in 2020 as bank shuts door on Irish market February 19, 2021 NatWest has today announced that it will pull out of its operations in the Republic of Ireland after reporting a £351m annual loss. The bank intends to withdraw from its Ulster Bank but operations will not be affected in Northern Ireland. It will exit the country following a strategic review and send $4.84bn worth of [...]
New City lobby: Big bank influence is holding UK financial services back post-Brexit February 18, 2021 A new pro-Brexit City of London lobby group has taken aim at competitor The CityUK, saying that the established body is “dominated by multinational banks” that do not care about the UK’s prosperity. The CityUnited project was formed earlier this week by a group of Eurosceptic City figures and politicians, with the group aiming to [...]