|Bid||3.6115 x N/A|
|Ask||3.6125 x N/A|
|Day's range||3.5845 - 3.6380|
|52-week range||3.3855 - 4.6820|
|Beta (5Y monthly)||1.45|
|PE ratio (TTM)||11.79|
|Earnings date||29 Jan 2020|
|Forward dividend & yield||0.23 (6.33%)|
|Ex-dividend date||30 Oct 2019|
|1y target est||N/A|
Britain's finance ministry has canvassed banks for ideas to boost the country's "left-behind" northern towns and cities, weeks after the governing Conservatives won an election promising to boost the regions outside London. The call comes as figures show lending by banks to small and medium sized businesses has shrunk rapidly in the north of England. Treasury officials have requested policy ideas for fuelling growth in the north of England in meetings with banks and finance industry trade bodies including since the new year, banking industry sources told Reuters.
Britain's markets watchdog told financial advisers on Tuesday they face a two-year crack down to stop unsuitable advice, investment scams and excessive fees. The Financial Conduct Authority (FCA) said in a "Dear CEO" letter to heads of financial advice firms it regulates that the sector has a valuable role to play. "However, we are seeing an increasing number of cases where the actions of firms are resulting in significant harm to consumers’ financial well-being," said Debbie Gupta, the FCA's director of financial advice supervision, in the letter.
Billionaire banker and art collector Jamie Botin has been found guilty of trying to smuggle a rare Picasso painting out of Spain.
The Financial Conduct Authority plans to force banks to offer one interest rate for 'easy access' savings accounts to prevent them gradually cutting rates.
Financial services companies contributed around 10% of all UK tax in 2019, according to a new report from PwC and the City of London Corporation.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. European bourses closed the day in positive territory as they got a boost from the news that China's central bank is cutting the amount of cash that all banks must hold as reserves, releasing around 800 billion yuan ($114.91 billion) in funds to revive the economy. The pan-European index was up 1% and the euro-zone blue chip index was up 1.37% at the end of the session, led by banks up 2%.
Europe’s investment banks are getting to grips with stricter research rules, low or negative interest rates, and depressed market activity.
Britain's mid-tier banks have asked the Bank of England to ease rules introduced after the financial crisis that they say hamper their efforts to compete with bigger rivals that have a tight grip on the market. Four banking industry sources said these so-called "challengers" have stepped up lobbying in meetings with the central bank and finance ministry officials in recent months to ease requirements for holding special debt aimed at shielding taxpayers from bailing out troubled banks. Smaller banks have long-argued that rules are stacked in favour of the "big six" lenders - RBS, Lloyds, Barclays, HSBC, Santander and Nationwide.
Santander's UK chief executive Nathan Bostock will have his pension allowance cut from next year, as the bank becomes the latest to bow to investor pressure to rein in executive pension perks. Bostock's pension allowance - which was worth 588,000 pounds ($754,404.00) last year - will be reduced from 35% of his base pay to 22% in 2020 and to 9% in 2021, a source familiar with the matter said. Santander's move comes as rivals including HSBC and RBS have already cut executive pension perks this year to meet corporate governance guidelines, while others including Barclays and Lloyds have plans to do so.
Regulators made proposals on Thursday to strengthen the ability of banks and payment firms in Britain to cope with major incidents and maintain key services with minimum interruption. The Bank of England and the Financial Conduct Authority have proposed that banks, insurers, investment firms, exchanges and financial market infrastructure (FMIs) firms like Visa that make payments possible, set "impact tolerances" for important services. Firms themselves would quantify the maximum level of disruption they would tolerate in terms of time, volume of business or number of customers affected.
The two banks failed to send all customers text alerts letting them know they were about to enter unplanned overdrafts, which incur fees.
HSBC was found to have broken a part of the Competition and Market Authority's (CMA) Retail Banking Market Investigation Order twice and is refunding 8 million pounds to 115,000 customers, the CMA said on Friday. Santander broke the order six times and has agreed to issue a refund, but has yet to confirm the number of customers affected and how much it will refund, the watchdog added.
Many of the fintech firms that are disrupting the banking sector will not be around in 10 or 100 years, the CEO of challenger bank Starling said.
Standard Chartered joined some of its British rivals in cutting its chief executive's pension allowance on Friday after protests from shareholders, putting pressure on other banks such as Lloyds to follow suit. Standard Chartered said its CEO Bill Winters and Chief Financial Officer Andy Halford had agreed to have their pension allowances cut to 10% from 20% of their salary from January, putting them in line with the rest of its workforce in Britain. The bank's definition of 'total salary' includes both base salary and a fixed pay allowance paid in shares.
MILAN/MADRID (Reuters) - Italy's Telecom Italia (TIM) and Spanish lender Banco Santander have agreed to set up a joint venture to provide consumer-credit services in Italy, the companies said on Thursday, confirming earlier reporting by Reuters. The deal should help TIM to free up capital and reduce its credit risk, while establishing Santander as a leading provider of consumer finance in Italy.
The deal includes Santander's 27 bank branches on the island and total assets of $6.2 billion, the companies said. First BanCorp , the bank holding company of FirstBank Puerto Rico, said its 2020 consensus earnings of 81 cents per share are now expected to get a boost by 35%.
Mexico's Senate aims to pass a first raft of bills to regulate fees for financial services by the end of October, said Ricardo Monreal, Senate leader of the ruling National Regeneration Movement (MORENA) party. Last November, shortly before President Andres Manuel Lopez Obrador took office, MORENA lawmakers presented a bill to limit bank fees, sparking an investor backlash that pummeled the peso , Mexico's S&P/BMV IPC stock index and banking shares.