Trading update fails to excite investors as OneSavings Bank’s share price falls November 2, 2016 Double-digit growth is still on the cards at OneSavings Bank despite yesterday's resignations of two key board members. Shares in the challenger bank fell by over 1.5 per cent after it updated the market on trading this morning. The bank grew its loan book by 13 per cent for the first nine months of the year and net loans [...]
17m of us are now part of the sharing economy – but could be uninsured for it November 2, 2016 Nearly a third of Brits are now part of the so-called sharing economy, renting out their homes, cars, and even their dogs, or using these services themselves. Some 17m people across the country participate in the new and growing sector, while one in 10 offer up their services, according to new research by Lloyds Bank Insurance Of [...]
Lending leaps at Virgin Money but it’s cautious over Brexit November 1, 2016 Challenger bank Virgin Money shrugged off post-Brexit vote volatility, increasing mortgage and credit card lending – although it warned it was exercising caution. The figures Gross mortgage lending rose 19 per cent to £6.5bn in the nine months to the end of September, putting its total mortgage balances at £28.9bn. That pushed Virgin's share of total mortgage lending up to 3.6 [...]
RBS shares tumble after another “noisy” loss-making quarter October 28, 2016 The Royal Bank of Scotland (RBS) reported an attributable loss of £469m for the third quarter of 2016 after being hit with nearly £900m of litigation and restructuring costs. Shares jumped five per cent in morning trading before falling back – it was 1.6 per cent lower, at 193.3p, in lunchtime trading [stockChart code="RBS" date="2016-10-28 09:21"] [...]
Persistent headaches: Five problems facing RBS chief exec Ross McEwan October 28, 2016 Ross McEwan may have been pleasantly surprised as he peaked through his fingers to see what had happened to the Royal Bank of Scotland's (RBS) share price this morning. Read more: RBS shares jump up and down to the noise of loss-making quarter Unfortunately for the chief exec of RBS, an initial jump of five per cent wobbled [...]
Permanent TSB completes EU deleveraging plan with sale of second slug of its mortgage book to Cerberus October 27, 2016 The fund that has spent billions hoovering up some of the UK's banks' most distressed mortgage portfolios, today splashed out €2.4bn (£2bn) to snaffle Permanent TSB's Irish housing book. US distressed debt investor Cerberus Capital Management already owns 50 per cent of Capital Home Loans, a subsidiary of Permanent TSB, and this deal completes the part state-owned lender's €8.4bn [...]
Deutsche Bank’s Mexican operations sold to Investabank October 27, 2016 Deutsche Bank has sold its two Mexican units as part of an ongoing drive to flog non-core assets. Investabank picked up Deutsche Bank Mexico and Deutsche Securities for an undisclosed amount – although it is looking to investors to provide 2.5bn pesos (£112m) to help fund the purchase. The deal is still subject to sign-off [...]
Time to remortgage? The rates on two-year fixed deals are very low, but watch out for additional fees October 27, 2016 Brexit has been kind to mortgage holders. As the Bank of England’s interest rate has come down, banks have been able to borrow more cheaply, allowing competition to increase and mortgage rates to fall. Borrowers have been quick to take advantage of the deals on offer; in August, the number of people remortgaging hit a [...]
Mortgage approvals fell 15 per cent in September October 26, 2016 The number of mortgages approved by high street lenders fell 15 per cent in the year to September, figures published today showed. The British Bankers' Association said the number of mortgages given approval hit 71,738 in September – up from 69,499 in August. But the figure was down on the 74,252 six-month average, and three per cent lower in [...]
Deutsche Bank share price dips on reports mega $14bn fine settlement has been delayed October 25, 2016 Deutsche Bank's shares dropped again today, as investors digest reports that the bank's settlement of a potential mega fine has been delayed. The German lender's share price is currently down 2.3 per cent at €13.00, having been on a rollercoaster ride ever since it was announced the US Department of Justice (DoJ) could hit it with a fine for as [...]