Virgin Money owner CYBG share price falls as it warns of softer full-year margins July 30, 2019 Shares in CYBG are down over 11.5 per cent this morning after the challenger bank warned that net interest margins (NIM) were likely to be at the lower end of its forecast. Read more: CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking The group, which owns Virgin Money, stood by [...]
Revenue rises at Rightmove as half-year results reveal 10 per cent increase July 26, 2019 Rightmove said its revenue has increased by almost 10 per cent during the first half of this year after issuing results to its investors this morning. The property portal reported strong results with revenue to the end of June up to £143.9m, from £131.1m last year. It claimed this was largely driven by continued growth [...]
Santander profits dive 18 per cent as UK mortgage margins squeezed July 23, 2019 Santander posted an 18 per cent plunge in second quarter profits due to one-off acquisition costs and rising pressure on mortgage margins in the UK. Read more: Santander ‘offered Andrea Orcel 52m euros’ in botched CEO plan The figures Profit before tax fell 18 per cent year on year to €1.39bn (£1.25bn) between April and [...]
Outgoing RBS boss Ross McEwan to take top role at National Australia Bank July 19, 2019 The outgoing head of the Royal Bank of Scotland (RBS) is taking the reigns as new chief executive of the National Australia Bank (NAB). Ross McEwan, a banking veteran who is set to step down from RBS by April next year, has been poached by the NAB as it looks to recover from a financial [...]
London house prices suffer worst plunge in 10 years July 17, 2019 London house prices suffered a staggering 4.4 per cent annual drop in May, their worst annual drop since the financial crisis, public data revealed today. While UK house prices rose 1.2 per cent compared to May 2018, London house prices sank, the Office for National Statistics (ONS) revealed. Read more: UK house prices slip for [...]
CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking June 19, 2019 Clydesdale and Yorkshire bank owner CYBG will be renamed Virgin Money in a major rebranding to “disrupt the status quo” of UK banking. CYBG acquired Virgin Money last year in a £1.7bn deal and will now adopt its name across its business by the end of the year. Read more: CYBG shares jump as it [...]
Clydesdale Bank owner CYBG shares jump as it hits profit after £1.7bn Virgin Money merger May 15, 2019 Clydesdale Bank owner CYBG reported a profit boost in its first set of results since combining with Virgin Money after a “resilient” performance in tough market conditions. Read more: CYBG raises business banking fees weeks after RBS competition fund snub Shares in the bank rose more than seven per cent in early trading after the results [...]
Lloyds Banking Group: Q1 results analysis May 7, 2019 By Graeme Evans from interactive investor. After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours earlier to the surprise gift handed to the bank [...]
Restructuring and foreign currency headwinds hammer Santander profits April 30, 2019 Santander saw profits fall by a tenth as the Spanish banking giant kicked on with a major restructuring in the UK and Poland. Read more: Santander and Barclays face lawsuits over film financing schemes The company was also hit by high inflation in Argentina which hampered earnings further, despite customer growth across its core markets [...]
Barclays shares: Optimists see an opportunity April 29, 2019 By Graeme Evans from interactive investor. These results do not impress, but there’s lots going on at Barclays and plenty to interest investors. Without the attention generated by activist investor Edward Bramson, it’s likely that last week’s lacklustre investment banking performance at Barclays (LSE:BARC) may have been passed off as just another quarter blighted by [...]