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
Co-Operative Bank's CEO Bester resigns Andrew Bester, chief executive of the Co-Operative Bank, is stepping down after just over two years in charge, the British lender said today. Business • 06 Oct 20
Co-Operative Bank's CEO Bester resigns Andrew Bester, chief executive of the Co-Operative Bank, is stepping down after just over two years in charge, the British lender said today. Business • 06 Oct 20
UK banks and finance firms revert to home working Banks and insurers in Britain have ordered hundreds of staff to work from home home again, just days after many tried to encourage employees back to the office, following fresh guidance from the government. Business • 23 Sep 20
UK banks and finance firms revert to home working Banks and insurers in Britain have ordered hundreds of staff to work from home home again, just days after many tried to encourage employees back to the office, following fresh guidance from the government. Business • 23 Sep 20
Banks told Covid-19 no excuse to delay EU Brexit hubs Banks in the UK are coming under growing pressure from regulators to get their new hubs in the European Union up and running even as Covid-19 and foot-dragging by clients disrupt Brexit relocation plans, banks and regulators say. Business • 26 Aug 20
Banks told Covid-19 no excuse to delay EU Brexit hubs Banks in the UK are coming under growing pressure from regulators to get their new hubs in the European Union up and running even as Covid-19 and foot-dragging by clients disrupt Brexit relocation plans, banks and regulators say. Business • 26 Aug 20
EU watchdog tells UK banks to get ready for full Brexit Banks using Britain as a gateway to the European Union must fully execute their plans for serving EU customers before a Brexit transition period ends in December, the EU's banking watchdog said today. Business • 29 Jul 20
EU watchdog tells UK banks to get ready for full Brexit Banks using Britain as a gateway to the European Union must fully execute their plans for serving EU customers before a Brexit transition period ends in December, the EU's banking watchdog said today. Business • 29 Jul 20
Virgin Money H1 profits erased by coronavirus provision Virgin Money swung to a first-half loss after setting aside £232m to handle loans likely to turn sour as a result of the coronavirus crisis. Business • 06 May 20
Virgin Money H1 profits erased by coronavirus provision Virgin Money swung to a first-half loss after setting aside £232m to handle loans likely to turn sour as a result of the coronavirus crisis. Business • 06 May 20
Banks dust off no-deal Brexit plans ahead of deadline UK banks are dusting off their no-deal Brexit plans as concerns deepen that Britain and the European Union will not agree a trade deal by December as the Covid-19 pandemic compounds fundamental disagreements over future relations. Business • 30 Apr 20
Banks dust off no-deal Brexit plans ahead of deadline UK banks are dusting off their no-deal Brexit plans as concerns deepen that Britain and the European Union will not agree a trade deal by December as the Covid-19 pandemic compounds fundamental disagreements over future relations. Business • 30 Apr 20
UK banks told to use excess capital to help customers UK banks should use their substantial capital and liquidity buffers to support the economy in view of the hit it has taken from the coronavirus pandemic, the Bank of England said today. Business • 20 Apr 20
UK banks told to use excess capital to help customers UK banks should use their substantial capital and liquidity buffers to support the economy in view of the hit it has taken from the coronavirus pandemic, the Bank of England said today. Business • 20 Apr 20
UK banks scrap dividends on coronavirus fears The UK's top banks have said they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus. Business • 01 Apr 20
UK banks scrap dividends on coronavirus fears The UK's top banks have said they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus. Business • 01 Apr 20
Bank of England tells UK banks to stay open The Bank of England has told UK banks and building societies to keep branches open wherever possible. Business • 24 Mar 20
Bank of England tells UK banks to stay open The Bank of England has told UK banks and building societies to keep branches open wherever possible. Business • 24 Mar 20
