TSB share price edges up as profits double February 25, 2015 The figures TSB shares opened 1.5 per cent higher this morning, after it reported statutory profit before tax of £170m in 2014, over 100 per cent up on the previous year. The group is strongly capitalised with a Common Equity Tier one capital ratio of 19.7 per cent. TSB landed 500,000 new bank accounts over [...]
Bonuses down despite strong year for Britain’s biggest banks February 19, 2015 Payouts for top bankers have taken a tumble so far this year, according to industry data seen by City A.M., as the bonus cap combined with investor and political pressure takes its toll. Preliminary data from pay benchmarking site Emolument.com shows bonuses for front office staff falling precipitously this year compared with last year’s pay [...]
Barclays, HSBC, Standard Chartered, Lloyds and RBS credit ratings slashed as states promise no more bailouts February 3, 2015 Britain’s biggest banks saw their credit ratings chopped back last night by Standard and Poor’s, as the agency believes the government is serious in its promise to let bad banks fail. While ratings are normally cut when a firm performs poorly, in this case the move reflects the shift in risk from the taxpayer and [...]
Lloyds buys Birmingham’s NEC for £307m January 16, 2015 Brummie institution the National Exhibition Centre (NEC) has been sold along with its parent company to LDC, the investment arm of Lloyds Banking Group, in a deal valuing it at £307m. As well as a 125-year lease on the NEC itself, the deal also includes the Genting (formerly known as the LG) Arena and 25-year [...]
GQ includes Lloyds chief Antonio Horta-Osorio and Cheesegrater architect Richard Rogers on 2015 best-dressed businessmen list January 8, 2015 We've always known that suave Portuguese Lloyds chief, Antonio Horta-Osorio was a bit of a looker and a snappy dresser. Well, now we’ve all been proven correct by that bastion of style, men’s glossy GQ – it has voted him as the sixth best-dressed man in business. “He shines among his British peers as the [...]
Lloyds shares sale: Morgan Stanley takes £1 fee for bank sell-off December 17, 2014 The government is to drip-feed Lloyds shares to the market over the coming six months, cutting its stake in the bailed-out bank bit-by-bit ahead of the election. As much as £3bn of shares could be sold under the scheme. The investment bankers who are handling the sale could normally expect to make millions of pounds from [...]
Chancellor George Osborne confirms government will sell more Lloyds shares December 17, 2014 The chancellor has announced the government will sell more shares in Lloyds Banking Group within the next six months. The sale, to be managed by investment bank Morgan Stanley, will help the government raise up to £2bn, UK Financial Investments (UKFI), the body which manages the government's investments, confirmed. Presently it owns around 17.8bn ordinary [...]
Co-op fails Bank of England stress test, RBS and Lloyds at risk December 16, 2014 The Co-operative Bank has failed the Bank of England’s (BoE) stringent new stress test, while Lloyds and RBS would be at risk in a new economic crisis. The prudential regulation authority (PRA) tested seven banks and building society Nationwide to see how they would handle a financial meltdown of epic proportions. While Lloyds, Standard Chartered, [...]
Autumn Statement 2014: Shares in RBS, Lloyds, HSBC and Barclays fall as chancellor outlines profit measures December 3, 2014 Shares in UK banks dropped in early afternoon trading as George Osborne outlined measures to limit the amount of profit lenders can offset by losses. In his Autumn Statement speech, Osborne said he would limit offests to 50 per cent, and delay relief on bad debts, which he added will raise £4bn for the Treasury [...]
Who are Europe’s best paid bank CEOs? Four UK banks HSBC, Lloyds and RBS and Standard Chartered made the ranking November 11, 2014 Given the boardroom battles that have taken place over recent years, it's hardly surprising – but a new ranking of last year's 15 best-paid European bank bosses shows UK bankers are among the most highly-paid in Europe. British banks HSBC and Lloyds Banking Group took second and third places in the ranking, compiled by business [...]