Natwest boss: We’re managing loan book ‘very very closely’ as rates spike June 15, 2023 Natwest boss Dame Alison Rose said the bank was seeing “no material signs of distress” in its loan book despite the impact of rising interest rates. Speaking at the Goldman Sachs financial conference, Rose said: “We have seen no increase in defaults or impairments and the same on the business side… What we’ve actually seen [...]
Natwest set to receive £47m after reducing stake in Irish bank Permanent TSB June 2, 2023 Natwest and the Irish finance ministry have sold nearly 55m shares in Permanent TSB, representing about 10 per cent of the Irish bank’s share capital. The sale reduces Natwest’s share holding from around 16.7 per cent to around 11.7 per cent. The Irish government will continue to hold 57.4 per cent of the bank. The [...]
FTSE 100 close: NatWest lifts after government stake sale as Burberry and JD Sports bump London index May 22, 2023 London’s FTSE 100 started what will be a quiet week in decent style today, driven higher by investors piling into Britain’s largest retailers. The capital’s premier index jumped 0.21 per cent to 7,773.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged lower to [...]
‘Milestone in returning NatWest to full private ownership’ as government sells £1.26bn worth of shares May 22, 2023 The government has sold £1.26bn worth of its shares in NatWest as it continues to sell-off its stake in the bank it bailed out after the 2008 financial crisis. The shares, sold at 268.4p each, represent 4.95 per cent of NatWest’s share capital and takes it stake below 40 per cent. The Economic Secretary to [...]
FTSE 100 close: HSBC and Lloyds lead gains on London index as Turkish lira slides after inconclusive election May 15, 2023 London’s FTSE 100 kicked off a new week in decent style today, led higher by Britain’s largest banks clocking strong gains. The capital’s premier index advanced 0.30 per cent to 7,777.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.37 per cent to [...]
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
FTSE 100 close: Barclays and NatWest rise on London index as stalling house prices knock builders May 9, 2023 London’s FTSE 100 kick started a fresh week down today, with Britain’s biggest home builders sliding after new figures showed house price growth has stalled. The capital’s premier index nudged 0.18 per cent lower to 7,764.10 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
FTSE 100 close: Wall Street sea of red offsets HSBC and Persimmon gains in London May 2, 2023 London’s FTSE 100 was dragged deep into the red in the final hours of trading today after Wall Street was pushed lower by investors sweating over more possible banking collapses. The capital’s premier index initially climbed in the morning before eventually closing 1.23 per cent lower at 7,774.12 points, while the domestically-focused mid-cap FTSE 250 [...]
Natwest profits soar but customers withdraw £1bn as cost of living and tax bills bite April 28, 2023 Natwest has beaten profit expectations during the first three months of this year. Natwest Group, which includes Royal Bank of Scotland and Ulster Bank, recorded a pretax profit of £1.8bn in the three months ending 31 March. The total comes in ahead of analysts’ expectations of £1.6bn for the quarter and ahead of the £1.2bn during [...]
Hunt for next Natwest chair begins as Howard Davies says he will step down by July 2024 April 25, 2023 The hunt for Natwest’s next chair is underway after Howard Davies told shareholders today he will be stepping down. Speaking at the bank’s AGM in Edinburgh, Davies said he expects a replacement to be found and handover completed by July next year. Noting that nine years was the maximum recommended tenure under the UK corporate [...]