Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
Lloyds rides out end of interest rate spike with bumper profit October 25, 2023 Increasing competition was not enough to stop Lloyds from performing above expectations in the third quarter as the bank continued to benefit from a relatively benign credit environment. In the three months to September, pretax profit hit £1.9bn, more than triple the same period last year and slightly ahead of analyst expectations. Net interest income [...]
FTSE 100 close: London ticks up on economic data, banking stocks pare losses October 24, 2023 London’s FTSE indices closed higher on Tuesday, paring losses from this morning as investors mulled key economic data and the state of the UK’s banking sector. The blue-chip FTSE 100 traded 0.2 per cent higher at 7,389.70, while the mid-cap FTSE 250 dropped 0.38 per cent to 16,994.10. Investors weighed S&P Global’s Purchasing Managers’ Index, [...]
Lloyds, Natwest and Barclays in for a ‘tough quarter’ as pressure on interest income persists October 22, 2023 n results for the second quarter both Natwest and Barclays UK lowered their forecast for the full-year NIM on the back of an increasingly competitive deposit and mortgage market.
Lloyd’s of London warns major cyber attack on payments could cost world $3.5 trillion October 18, 2023 A major cyber attack on a financial services payments system could cost trillions, Lloyd's has found, as demand for cyber insurance booms.
Telegraph sale continues as Barclay family bids higher October 16, 2023 Lloyds Banking Group has reportedly turned down an increased offer for the Telegraph newspaper and Spectator magazine from its former owner, and is pressing on with the auction.
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 [...]
Interest rates: no rise will be ‘welcome pause’ for banks September 25, 2023 The Bank of England's decision to leave interest rates on hold last week will come as a "welcome pause" to the UK's high street banks, analysts said.
Lloyds pushes staff to return to office as banks lead charge against working from home September 4, 2023 Earlier this year, the bank told workers that they had to come into the office for at least two days a week.
London business confidence hits highest level since May last year August 31, 2023 Business confidence in London surged to its highest level since May last year, as firms around the country were increasingly optimistic about the UK economy. Business confidence in London rose 20 points during August to hit 52 per cent, according to the latest Lloyds Business Barometer. Some 56 per cent of firms were confident in [...]