Close Brothers completes sale of asset management arm to Oaktree March 3, 2025 Banking group Close Brothers has completed the sale of Close Brothers Asset Management (CBAM) to global investment management firm Oaktree Capital Management. The transaction, finalised on 28 February 2025, is expected to bolster the bank’s common equity tier 1 (CET1) capital ratio by approximately 120 basis points, from 12.1 per cent to 13.3 per cent. [...]
Pay for Lloyds Bank’s top bosses jumps to £5.6m February 28, 2025 Lloyds Bank’s top executives have received a bumper windfall despite the lender’s rocky results and mass closure of high-street branches. In its annual report published on Thursday, the bank said its top two bosses would receive nearly £2m in bonuses in 2024 in addition to their regular payouts. Chief executive Charlie Nunn will receive a [...]
Lloyds Bank analyst ‘favourite’ after annual results February 25, 2025 Analysts have slapped a ‘Buy’ rating on Barclays, Natwest and Lloyds shares following annual results, but said the latter was the “favourite” of the pack. The three UK giants all posted annual results this month, with Barclays and Natwest meeting profit estimates and Lloyds taking a hit. Jonathan Pierce and Priya Rathod, analysts at Jefferies, [...]
Analysts slap 359p price target on Barclays shares after results February 25, 2025 Analysts have reiterated their ‘Buy’ rating on Barclays shares after the lender beat expectations when it reported results earlier this month. The FTSE 100 lender booked a profit before tax of £8.1bn in 2024, ahead of the £8.07bn estimated. “We believe strong capital generation should support a higher valuation and plans to return more than [...]
HSBC Innovation Banking bets £30m on fintech Clearscore February 25, 2025 HSBC Innovation Banking has backed global fintech Clearscore lending £30m in debt financing. After first partnering in 2017, the fintech said the continued support of the bank will help drive further business growth across domestic and international markets. Clearscore credited the lender for its “vital role in its global expansion” with the financial marketplace now [...]
Motor finance: Bank of Ireland sets aside £143m provision February 24, 2025 Bank of Ireland joined the UK’s biggest lenders in setting aside a lump sump for potential motor finance payouts as it posted its annual results. The bank recorded a pre-tax profit of €1.86bn (£1.5bn) for 2024, which was four per cent down on the €1.94bn (£1.6bn) reported in 2023. The bank set aside €172m (£143m) [...]
FTSE 100 lenders pocket record total profit February 21, 2025 Standard Chartered was the last of the FTSE 100’s biggest banks to release its annual results, as analysts praised the strong performance across all of the Big Five. Barclays, HSBC, Natwest, Lloyds and Standard Chartered booked an all-time high of £50.3bn in profit in 2024 and returned £35bn to investors. Russ Mould, investment director at [...]
Banks including HSBC fined £100m for ‘anti-competitive behaviour’ February 21, 2025 In a statement released this morning, the Competition and Markets Authority (CMA) confirmed that the banks have agreed to pay fines for this anti-competitive behaviour.
Standard Chartered shares jump after boosting annual profit February 21, 2025 Standard Chartered shares jumped over four per cent Friday morning after the lender posted its full-year results. It announced an overhaul on executive pay, as the multinational bank missed analysts’ profit estimates for the final quarter. Pre-tax profit fell 30 per cent to $800m (£631m) for the fourth quarter. Analysts had estimated the FTSE 100 [...]
Standard Chartered shares hit ten-year high ahead of results February 20, 2025 Shares in Standard Chartered climbed to a ten-year high as the bank geared up to post its annual results on Friday. City analysts have pencilled in a full-year profit before tax of $6.2bn (£4.9bn), with the bank expected to pocket $983m (£780m) in the fourth quarter, down on the $1.1bn (£872m) posted in the fourth [...]