Natwest: Alison Rose signs off with bumper profit even as bad loan provisions double July 28, 2023 Natwest announced a new share buyback scheme after beating expectations in the second quarter, but cut its guidance as customers increasingly seek out higher rates on their deposits.
Coutts boss Peter Flavel resigns over Farage account closure July 27, 2023 The boss of private bank Coutts has resigned for his part in the closure of Nigel Farage’s bank account. Peter Flavel’s resignation follows the departure of Natwest boss Dame Alison Rose in the early hours of Wednesday morning and comes as pressure grows on other members of the Natwest board to step down over the [...]
Barclays shares slide after lowering interest guidance for full year despite beating expectations July 27, 2023 Barclays shares dropped after the lender said it expects the tailwind from rising interest rates to be slowing, despite beating expectations in the second quarter. In the three months to June, Barclays’ profit rose 31 per cent to nearly £2bn, slightly higher than the £1.9bn analysts had predicted. On the back of the results, Barclays [...]
Mark Kleinman: Natwest’s future, Ovo Energy and Hargreaves Lansdown’s search for a successor July 27, 2023 Mark Kleinman is City editor at Sky News What next for Natwest? Somebody with a tighter grip at the top, and that’s just the start Banking with the human touch: that’s how Coutts, the high net worth bank owned by Natwest Group, likes to position itself. Like so many corporate slogans, however, it often bears [...]
Bankenheimer: Number of banks shunning nuclear weapons jumps 10 per cent July 27, 2023 As Christopher Nolan’s epic about Oppenheimer, Godfather of the atomic bomb, hits cinema screens, new research shows banks globally are pulling back from funding nuclear weapons. According to a new report from Don’t Bank on the Bomb, 109 financial firms worldwide have published policies restricting investment in nuclear weapon producers. This was roughly 10 per [...]
Let’s be honest, banks like Coutts should be able to choose their customers July 27, 2023 Natwest’s handling of the Farage affair has been an unmitigated public relations disaster. They have turned a much-disliked public figure into a sympathetic victim of procedural mistreatment.
FTSE 100 close: Soft Lloyds Bank results spark sell off as Natwest tumbles after Alison Rose exit July 26, 2023 London’s FTSE 100 was dragged down today by investors ditching shares in Britain’s biggest banks after Lloyds posted a soggy set of results that dampened market sentiment. The capital’s premier index fell 0.19 per cent to 7,676.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Complaints of sexism emerge around forced resignation of Natwest boss Alison Rose July 26, 2023 Complaints of sexism have emerged after Natwest boss Dame Alison Rose was forced to resigned late last night after admitting she was the source for an inaccurate BBC report on Nigel Farage’s Coutts account closure. Rose stepped down in the early hours of this morning after an extraordinary late-night board meeting – just hours after [...]
Banks agree to protect freedom of expression after Farage furore July 26, 2023 Bank bosses today agreed to protect freedom of expression after they were hauled in for talks with City minister Andrew Griffith following the closure of Nigel Farage’s bank account. In a meeting today with bank bosses in the Treasury, representatives from Natwest, HSBC, Nationwide, Lloyds, Santander and Barclays committed to not ‘debank’ customers because of [...]
Hunt tells banks and energy firms to use profits to support customers and avoid a ‘fiscal intervention’ July 26, 2023 Chancellor Jeremy Hunt has urged big banking and energy firms to use their profits to help customers with the cost of living crisis, and avoid intervention from the Government. In an article calling on corporations to support the public through Britain’s ongoing economic woes, he appealed to firms to be more responsible, pitching a “social [...]