Aldermore chief executive Phillip Monks says the challenger bank has “plenty of headroom” to grow after posting 88 per cent surge in profits March 10, 2016 Shares in Aldermore Group are down by more than one per cent this afternoon, after spiking earlier today on the news that the British challenger bank had reported a better-than-expected 88 per cent jump in profit for 2015. The bank's chief executive, Phillip Monks, told City A.M. that while the share price moves were "perhaps a little [...]
Metro Bank share price up as unconditional trading begins on London Stock Exchange and Jefferies initiates coverage with a buy March 10, 2016 Shares in Metro Bank are trading above the price of the British challenger bank's initial public offering (IPO) today, the first day of unconditional trading for the stock on the main market of the London Stock Exchange (LSE). The stock is trading at 2,200p per share this morning, compared to an IPO price of 2,000p per [...]
Aldermore’s share price rises after UK challenger bank delivers record profit as it increases lending March 10, 2016 Aldermore reported better than expected growth in full-year pretax profit as the challenger bank issued more loans and mortgages to SMEs. The bank's share price jumped over 3.5 per cent as markets opened on the news. The figures Aldermore reported profit before tax up by 88 per cent year-on-year to £95m for 2015. The bank delivered [...]
UK immigration: British Bankers Association (BBA) says plans to tighten immigration rules would undermine the City March 10, 2016 Plans to tighten immigration rules and impose a new tax for employing non-EU migrant workers would damage the City, a leading business group is warning today. Less than one week before chancellor George Osborne delivers his 2016 Budget, the British Bankers Association (BBA) said that plans to raise the minimum annual salary requirements for skilled [...]
Meet steely Neelie Kroes, the queen of UK banks November 4, 2009 Brussels competition chief Neelie Kroes yesterday unveiled the most radical shake-up of UK retail banking in living memory, ordering Royal Bank of Scotland and Lloyds Banking Group to sell off assets and authorising an extra £40bn injection of taxpayer money into the banks. The extra capital from the Treasury only served to stoke the anger [...]
British banks given access to Vietnam September 10, 2008 HSBC and Standard Chartered have become the first foreign banks to be given permission to set up wholly owned subsidiaries in Communist Vietnam, the country’s state bank said yesterday. The two companies will be allowed to operate as commercial banks for a period of 99 years, according to a statement from the State Bank of [...]
Nationwide merger will suit all sides September 8, 2008 Nationwide’s merger with The Derbyshire Building Society and The Cheshire Building Society, which was confirmed yesterday, will see it stretch its lead at the top of the list of UK mortgage lenders. The tie-up will hand the building society an extra 95 branches to add to the 900 retail locations it already operates, reinforcing its [...]
Lehman talks continue amid board revamp September 8, 2008 US investment bank Lehman Brothers’ fundraising efforts could take a new twist this week, as talks with Korea Development Bank (KDB) over a $6bn investment look to have slowed. Chief executive officer Dick Fuld has drafted a blueprint for dividing the group into a “good bank” and a “bad bank”, by hiving off the bank’s [...]
Affluent women boosting growth in private banking September 1, 2008 NatWest will today reveal that there is a new profile of private banking customers in Britain, announcing an increase in young, affluent female customers. NatWest Private Banking’s customer demographic has evolved significantly over the past five years. Customers are now younger, with 87,344 18 to 30 year olds owning private banking accounts. Private banking is [...]
Lehman Bros locked in new equity talks September 1, 2008 Lehman Brothers, the troubled Wall Street investment bank, was holding intensive talks this weekend over a much-needed injection of billions of dollars in new equity capital. Korea Development Bank (KDB), the South Korean government-backed institution, which last week appeared to have lost its appetite for Lehman, is thought to have returned to the table to [...]