NatWest issues €1bn affordable housing bond in ESG push February 23, 2021 NatWest Group is issuing a €1bn affordable housing bond, the first of any kind issued by a UK bank. The proceeds of the bond will be allocated to non-profit housing associations which provide access to affordable housing. The selected associations provide affordable rent, supported housing and shared property schemes. They own around 150,000 units of [...]
Wall Street indexes follow FTSE 100 rise to end week on a high February 19, 2021 Wall Street follows FTSE 100 rise to end week on a high
Lloyds and HSBC: What to expect in next week’s earnings February 19, 2021 This week Barclays and Natwest announced a return to dividend payments but laid bare the extent of the pandemic on earnings. Barclays reported a 30 per cent drop in pre-tax profit to £3.1bn for 2020, while Natwest reported a pre-tax loss of £351m for the year. Next week it will be Lloyds and HSBC’s turn [...]
“Some challengers don’t want to make a profit” says Cashplus boss February 19, 2021 With plans to raise external investment and a new chairman in tow, challenger bank Cashplus is going full steam ahead just weeks after securing its full banking licence. Earlier this month the Prudential Regulation Authority (PRA) granted Cashplus a full banking license. Like its digital peers, Cashplus offers current accounts for UK SMEs, currently serving [...]
Banks move to buy parts of NatWest’s Irish loan book February 19, 2021 Allied Irish Banks has entered a non-binding agreement to buy around €4bn of corporate and commercial loans from NatWest’s Irish outfit, while separate talks elsewhere are ongoing to buy other assets. This morning NatWest announced it will pull out of its operations in the Republic of Ireland, after reporting a £351m annual loss in 2020. [...]
NatWest tumbles to £351m loss in 2020 as bank shuts door on Irish market February 19, 2021 NatWest has today announced that it will pull out of its operations in the Republic of Ireland after reporting a £351m annual loss. The bank intends to withdraw from its Ulster Bank but operations will not be affected in Northern Ireland. It will exit the country following a strategic review and send $4.84bn worth of [...]
All eyes on dividends: What to expect from Barclays and Natwest this week February 16, 2021 Barclays and Natwest will be the first of the major high street banks to report full year results this week. It has been a difficult 12 months with Brexit weighing on sentiment in addition to the fallout from the pandemic. All eyes will be on dividend payments after the Prudential Regulation Authority effectively banned payouts [...]
Some City investors are starting to get nervous about inflation February 16, 2021 The UK will release new inflation data later this week, but if recent investor comments and analyst notes are anything to go by, it is becoming increasingly clear that some within the investment community are starting to get nervous about inflation. According to last month’s figures by the Office for National Statistics (ONS), the UK’s annual [...]
Ranked: Monzo tops list of best UK banks as digital services thrive February 15, 2021 Digital fintechs Monzo and First Direct provide better service to customers than traditional banks, according to a recent survey. Ipsos MORI conducted a review of around 1,000 customers from each of the 19 biggest personal current account providers in the UK to rank the best and worst banks. The findings are designed to compare the [...]
The Week Ahead: Barclays, Natwest, retail sales, public borrowing February 15, 2021 City A.M. takes a look at some of this week’s market-shaping events. Barclays – Full year results (Thursday) The past 12 months have been difficult ones for banks in general, but UK banks have underperformed relative to their peers, Hewson said, with the unknowns of what a final Brexit deal might look like also weighing [...]