NatWest profit jumps on revenue boost from rate rises NatWest has today reported a 33% jump in annual profit for 2022, as the boost from successive Bank of England rate rises outweighed provisions for troubled loans amid Britain's cost of living crisis. Business • 17 Feb 23
NatWest profit jumps on revenue boost from rate rises NatWest has today reported a 33% jump in annual profit for 2022, as the boost from successive Bank of England rate rises outweighed provisions for troubled loans amid Britain's cost of living crisis. Business • 17 Feb 23
Banker bonuses go from boom to bust in jarring reversal Bankers in New York and London are bracing for year-end bonuses that recruiters estimate are 30% to 50% lower, while some may receive none at all as dealmaking sputters and economic gloom sets takes hold. Business • 22 Dec 22
Banker bonuses go from boom to bust in jarring reversal Bankers in New York and London are bracing for year-end bonuses that recruiters estimate are 30% to 50% lower, while some may receive none at all as dealmaking sputters and economic gloom sets takes hold. Business • 22 Dec 22
Metro Bank returned to profit in September Metro Bank said today it returned to profit in September by keeping a tight rein on costs and has so far seen no sign of increased stress among its customers as Britain grapples with higher interest rates and an escalating cost of living crisis. Business • 02 Nov 22
Metro Bank returned to profit in September Metro Bank said today it returned to profit in September by keeping a tight rein on costs and has so far seen no sign of increased stress among its customers as Britain grapples with higher interest rates and an escalating cost of living crisis. Business • 02 Nov 22
NatWest shares plunge after warning on rising costs NatWest's shares fell by 9% today after the British bank warned of rising costs, and as its third-quarter results were hit by a deteriorating UK economic outlook that prompted an increase in bad debt provisions. Business • 28 Oct 22
NatWest shares plunge after warning on rising costs NatWest's shares fell by 9% today after the British bank warned of rising costs, and as its third-quarter results were hit by a deteriorating UK economic outlook that prompted an increase in bad debt provisions. Business • 28 Oct 22
Lloyds profit slides on hefty charge for bad loans Lloyds Banking Group has today reported a slide in quarterly profit, as the lender braced for a potential rise in loan defaults as inflation squeezes borrowers. Business • 27 Oct 22
Lloyds profit slides on hefty charge for bad loans Lloyds Banking Group has today reported a slide in quarterly profit, as the lender braced for a potential rise in loan defaults as inflation squeezes borrowers. Business • 27 Oct 22
Barclays' third quarter profit inches higher Barclays has today beaten forecasts with a small rise in third-quarter profit, as a strong performance in fixed income trading alleviated loan loss charges and helped it bounce back from a costly trading error. Business • 26 Oct 22
Barclays' third quarter profit inches higher Barclays has today beaten forecasts with a small rise in third-quarter profit, as a strong performance in fixed income trading alleviated loan loss charges and helped it bounce back from a costly trading error. Business • 26 Oct 22
Bank of England tells banks to take climate action now Banks and insurers that fail to manage climate risks as a "first-order" issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England said today. Business • 24 May 22
Bank of England tells banks to take climate action now Banks and insurers that fail to manage climate risks as a "first-order" issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England said today. Business • 24 May 22
Lloyds profit recovery marred by fraud costs Britain's largest high street bank Lloyds has posted a jump in annual profits but was dented by further costs for past misdeeds, as the lender laid out a fresh strategy under new CEO Charlie Nunn. Business • 24 Feb 22
Lloyds profit recovery marred by fraud costs Britain's largest high street bank Lloyds has posted a jump in annual profits but was dented by further costs for past misdeeds, as the lender laid out a fresh strategy under new CEO Charlie Nunn. Business • 24 Feb 22
Barclays annual profit nearly trebles as bad loans ebb Barclays said today that its annual profit nearly trebled as bad loan charges plunged and its investment bank continued its strong recent performance amid market volatility in the Covid-19 pandemic. Business • 23 Feb 22
Barclays annual profit nearly trebles as bad loans ebb Barclays said today that its annual profit nearly trebled as bad loan charges plunged and its investment bank continued its strong recent performance amid market volatility in the Covid-19 pandemic. Business • 23 Feb 22
UK economic recovery lifts NatWest to bumper profit British bank NatWest swung to a hefty profit on the back of the country's economic recovery but said rising prices will make it harder to cut overheads, prompting it to lower its cost-cutting target. Business • 18 Feb 22
UK economic recovery lifts NatWest to bumper profit British bank NatWest swung to a hefty profit on the back of the country's economic recovery but said rising prices will make it harder to cut overheads, prompting it to lower its cost-cutting target. Business • 18 Feb 22
Co-op Bank profit run continues as turnaround kicks in Britain's Co-op Bank posted a third quarter of profits in a row today, as the self-styled ethical lender made further progress on its turnaround after nearly a decade of annual losses and was lifted by Britain's economic rebound. Business • 05 Nov 21
Co-op Bank profit run continues as turnaround kicks in Britain's Co-op Bank posted a third quarter of profits in a row today, as the self-styled ethical lender made further progress on its turnaround after nearly a decade of annual losses and was lifted by Britain's economic rebound. Business • 05 Nov 21
NatWest profit triples despite money laundering charge NatWest's profit tripled in the third quarter as Britain's resurgent economy buoyed its finances, but its margins contracted in a sign of potentially tougher times ahead. Business • 29 Oct 21
NatWest profit triples despite money laundering charge NatWest's profit tripled in the third quarter as Britain's resurgent economy buoyed its finances, but its margins contracted in a sign of potentially tougher times ahead. Business • 29 Oct 21
Barclays Q1 profit more than doubles as bad loans fall Barclays today said its first quarter profits more than doubled, despite not releasing cash set aside to cover bad loans from the Covid-19 pandemic as its British peers had done. Business • 30 Apr 21
Barclays Q1 profit more than doubles as bad loans fall Barclays today said its first quarter profits more than doubled, despite not releasing cash set aside to cover bad loans from the Covid-19 pandemic as its British peers had done. Business • 30 Apr 21
Standard Chartered to cut branch network in half Standard Chartered is to reduce its global branch network by half to around 400 to cut long-term costs after the British bank reported a stronger than expected first quarter profit. Business • 29 Apr 21
Standard Chartered to cut branch network in half Standard Chartered is to reduce its global branch network by half to around 400 to cut long-term costs after the British bank reported a stronger than expected first quarter profit. Business • 29 Apr 21
NatWest returns to profit in first quarter of 2021 UK lender NatWest returned to profit in the first quarter of 2021 after joining rivals in releasing some of the cash it had set aside to cover expected bad loans due to the pandemic. Business • 29 Apr 21
NatWest returns to profit in first quarter of 2021 UK lender NatWest returned to profit in the first quarter of 2021 after joining rivals in releasing some of the cash it had set aside to cover expected bad loans due to the pandemic. Business • 29 Apr 21
HSBC pretax profit rises 79% on recovery from pandemic HSBC Holdings has reported a significantly better-than-expected 79% rise in first quarter profit, as an improved economic outlook allowed the bank to release cash set aside against bad loans because of the coronavirus pandemic. Business • 27 Apr 21
HSBC pretax profit rises 79% on recovery from pandemic HSBC Holdings has reported a significantly better-than-expected 79% rise in first quarter profit, as an improved economic outlook allowed the bank to release cash set aside against bad loans because of the coronavirus pandemic. Business • 27 Apr 21
NatWest tumbles to loss of £351m for 2020 NatWest has reported a full-year loss for 2020 after Covid-19 lockdowns crunched household spending and said it will wind down its under-performing Irish arm Ulster Bank. Business • 19 Feb 21
NatWest tumbles to loss of £351m for 2020 NatWest has reported a full-year loss for 2020 after Covid-19 lockdowns crunched household spending and said it will wind down its under-performing Irish arm Ulster Bank. Business • 19 Feb 21
Barclays resumes dividend payouts as 2020 profit halves Barclays' annual profit in 2020 fell by half, much less than feared as a strong performance by its investment bank offset provisions against bad loans from the economic fallout of the Covid-19 pandemic. Business • 18 Feb 21
Barclays resumes dividend payouts as 2020 profit halves Barclays' annual profit in 2020 fell by half, much less than feared as a strong performance by its investment bank offset provisions against bad loans from the economic fallout of the Covid-19 pandemic. Business • 18 Feb 21
Bank of England readies plans to deal with Brexit The Bank of England took steps today to keep banks lending through 2021 as Britain grapples with the Covid-19 pandemic and braces for any market disruption from a big change in the UK's trading relationship with the European Union. Business • 11 Dec 20
Bank of England readies plans to deal with Brexit The Bank of England took steps today to keep banks lending through 2021 as Britain grapples with the Covid-19 pandemic and braces for any market disruption from a big change in the UK's trading relationship with the European Union. Business • 11 Dec 20
Pandemic no excuse for UK banks not to move staff UK-based banks looking to continue doing business in the euro zone after the Brexit transition period must move staff to the continent and not use the pandemic as an excuse to avoid relocations, the European Central Bank said today. Business • 18 Nov 20
Pandemic no excuse for UK banks not to move staff UK-based banks looking to continue doing business in the euro zone after the Brexit transition period must move staff to the continent and not use the pandemic as an excuse to avoid relocations, the European Central Bank said today. Business • 18 Nov 20
Lloyds steps up job cuts with more than 1,000 layoffs Britain's biggest domestic bank Lloyds said it is cutting 1,070 jobs, accelerating redundancies despite a return to profit in the third quarter. Business • 04 Nov 20
Lloyds steps up job cuts with more than 1,000 layoffs Britain's biggest domestic bank Lloyds said it is cutting 1,070 jobs, accelerating redundancies despite a return to profit in the third quarter. Business • 04 Nov 20
NatWest swings to profit as pandemic loan charges fall UK lender NatWest has today reported forecast-beating third quarter earnings, after setting aside a smaller cash pile in the period to deal with likely loan defaults due to the coronavirus pandemic. Business • 30 Oct 20
NatWest swings to profit as pandemic loan charges fall UK lender NatWest has today reported forecast-beating third quarter earnings, after setting aside a smaller cash pile in the period to deal with likely loan defaults due to the coronavirus pandemic. Business • 30 Oct 20
Lloyds' Q3 profit boosted by home loan lending boom Lloyds Banking Group has today posted forecast-beating third quarter profit, cashing in on a coronavirus-driven boom in demand for mortgages as it lowered its provisions for expected bad loans due to the pandemic. Business • 29 Oct 20
Lloyds' Q3 profit boosted by home loan lending boom Lloyds Banking Group has today posted forecast-beating third quarter profit, cashing in on a coronavirus-driven boom in demand for mortgages as it lowered its provisions for expected bad loans due to the pandemic. Business • 29 Oct 20
Barclays' third quarter profit beats expectations Barclays has today reported much better than expected third quarter earnings, as its consumer businesses swung back to profit and provisions against bad loans fell compared with the previous quarter. Business • 23 Oct 20
Barclays' third quarter profit beats expectations Barclays has today reported much better than expected third quarter earnings, as its consumer businesses swung back to profit and provisions against bad loans fell compared with the previous quarter. Business • 23 Oct 20
UK watchdog warns banks over remote working rules Banks must apply the same standards of surveillance and conduct to staff working from home or in the office during the pandemic and in future as working practices change, Britain's Financial Conduct Authority said today. Business • 12 Oct 20
UK watchdog warns banks over remote working rules Banks must apply the same standards of surveillance and conduct to staff working from home or in the office during the pandemic and in future as working practices change, Britain's Financial Conduct Authority said today. Business • 12 Oct 20
