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There is an old Lloyds Bank television commercial featuring those darlings of the 1980s sitcom, Jan Francis and Nigel Havers. Francis’s character has just bought a house from Havers and the ad has the pair bumping into each other at the supermarket checkout. The encounter prompts Francis to give Havers a few unsolicited personal finance lessons, by explaining how her […]
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(Reuters) – Online lender OnDeck Capital Inc on Tuesday reported quarterly adjusted profit that nearly doubled, as the online lender dispensed more loans and earned more interest income. Adjusted net income rose to $15.9 million, or 20 cents per share, in the fourth quarter ended Dec. 31, compared with $8.1 million, or 10 cents per share, a year earlier. reut.rs/2Ia0Euh […]
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The government is facing calls for a new regulator to protect consumers’ access to cash, following several bank IT failures and thousands of cash machine and branch closures across the UK. The consumer group Which? said cash is still a necessity for more than 25 million people in the UK. It also noted the combined closures of cash machines and […]
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Edward Bramson would do everybody a favour if he outlined what he would do if he succeeds in getting himself voted on to the board of Barclays. The activist agitator, armed with a 5% holding, has offered little except a vague grumble so far. Maybe he will open up before the showdown in May but, in the meantime, one can […]
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The cost of TSB’s computer systems meltdown rose to £330m during 2018, pushing the high street challenger bank to a large loss for the year. No bonuses will be paid to TSB executives for 2018, the bank said, as it reported a statutory loss before tax for 2018 of £105.4m, against a profit of £162.7m in 2017. Staff received a […]
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Shares of UBS Group AG (UBS) were losing around 5 percent in the early morning trading after the Swiss banking giant warned on client activity in the first quarter, despite reporting a profit in its fourth quarter, compared to prior year’s hefty loss. For 2018, the Board of Directors intends to propose a dividend of CHF 0.706 per share, an […]
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Environmental activists have accused Barclays of being on the “wrong side of history” after publishing an “underwhelming” climate policy document that fails to rule out funding for tar sands projects. Barclays is the last major UK bank to publish rules for how it will conduct business with companies involved in carbon-heavy industries such as oil and coal. Other lenders including […]
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British banks have suffered their first drop in demand for five years as Brexit uncertainty, regulation and market volatility took their toll. The latest CBI/PwC Financial Services Survey showed the financial services sector had a difficult end to 2018, with just 24% of firms reporting a rise in business volumes in the three months to December, compared with 32% having […]
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RBI’s latest financial stability report indicates that Indian banks’ bad loan crisis could be peaking out In the last five years, investors and depositors in India have become accustomed to banks springing unpleasant surprises on them every time they thought the worst was over on the bad loan crisis. The Reserve Bank of India’s (RBI’s) half-yearly Financial Stability Reports, which […]
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Banking giant Wells Fargo agreed to pay $575 million to settle state-level claims for deceiving consumers. The third largest bank admitted that it systematically scammed its customers for 15 years, from 2002 to 2017. Wells Fargo has acknowledged that its employees opened more than 3.5 million unauthorized deposit, credit card, and other accounts. It conducted transfers of funds without customer […]
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