Banks

Britain’s banks have provided a bevy of news for the first Monday in August.  And – surprise!- not all of it is bad.  Not that long ago, any story about UK banks could have been written in one word:  “Disaster.”  Actually, it’s been so bad for so long that “bank” and “disaster” in the same […]

Return on average ordinary shareholders’ equity up 12.0% HSBC made a reported profit before tax of US$14.1bn, an increase of US$1.3bn, or 10%, compared with the first half of 2012, the company has reported. Profit attributable to ordinary shareholders was US$10.0bn, an increase of US$1.8bn or 23% compared with the first half of 2012. Return […]

Mr McEwan will replace out going CEO Stephen Hester. The Royal Bank of Scotland Group plc (RBS) announces today that Ross McEwan has been appointed as a Director and Group Chief Executive with effect from 1 October 2013. Mr McEwan joined RBS as the UK Retail CEO in September 2012. Philip Hampton, RBS Chairman said […]

Research by part of the Lloyds Banking Group The number of first time buyers in the first six months of 2013 was 19% higher than in the same period last year, according to the half-year Halifax First Time Buyer Review. There were an estimated 120,000 first time buyers (FTBs) during January-June 2013, up from 101,000 […]

How does your salary compare to that of the new RBS (LSE:RBS) chief executive Ross McEwan? RBS have announced their new chief executive will be New Zealander, Ross McEwan. McEwan will take up his new role and his hefty salary, come October. Currently head of RBS’s UK retail arm, he has only been working for […]

Pound Sterling – At the start of the week the Pound saw little movement against its most traded peers, but did make gains against the US Dollar. The rise came after the Bank of England released data showing that lending to small UK firms hit a record high in June. To ask a currency expert a […]

Lloyds Banking Group (LSE:LLOY) share price closed at 68.47 as July trading came to a close yesterday.  The bank released its half-year report at 7:02 this morning.  By 8:22 am its share price has reached 72.98.  By 10:14 am, it was at 74.41.  At 13:00 it had ascended to 74.85.  Lloyds’ share price has not […]

Barclays plc (LSE:BARC) announced earlier today it will have a rights issue to raise funds needed to fill the gap as a result of new capital quota mandated by the Prudential Regulation Authority (PRA). In a statement, the British bank said it will raise £5.8 billion worth of new shares for its existing shareholders at […]

Sadly, the news was not posted on a golden easel outside of the Old Lady of Threadneedle Street. HM Treasury has announced that Her Majesty The Queen has agreed, on the recommendation of the Chancellor and Prime Minister, to appoint Sir Jon Cunliffe as Deputy Governor of the Bank of England with responsibility for Financial […]

Ratings agency downgrades Italian banks. Fitch Ratings has downgraded Banca Popolare di Sondrio’s (BPS) Long-term Issuer Default Ratings (IDR) to ‘BBB’ from ‘BBB+’, Banca Popolare dell’Emilia Romagna’s (BPER) to ‘BB+’ from ‘BBB and Banca Carige’s (Carige) to ‘BB’ from ‘BB+’. The agency has also placed...