The troubled Co-op Bank has offloaded £1.5 billion of ‘risky’ mortgages as part of a bid to get the business back on an even keel. It has completed the first part of the process to sell part of the toxic Optimum loan book it acquired as part of its takeover of the Britannia Building Society […]
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HSBC now hints at ‘spin off’ of retail banking arm
by Mike Birkett, 19/06/2018 HSBC now hints at ‘spin off’ of retail banking arm HSBC are considering ‘spinning off’ their UK retail business if planned bank reforms become ‘too electrified.’ Days after announcing that a decision on moving their headquarters from London to Hong Kong is likely in ‘months not years’, Europe’s largest bank says […]
Read MoreClydesdale Bank to be sold off by NAB
Clydesdale Bank is to be sold off by its parent company National Australia Bank (NAB) who say there are ‘significant risks and uncertainties’ surrounding the conduct of the UK operation. In a statement NAB said: “This is a substantial and complex undertaking, subject to risk and addressing a number of issues of which the most […]
Read MoreAnother £91 million for PPI as HSBC threatens to quit UK
HSBC has added another £91 million to its PPI provision just weeks after announcing it may be moving its headquarters out of the UK. Europe’s biggest bank was the last of the big four to announce its quarterly figures and the new provision takes their total pot to almost £2.6 billion, a fraction of the […]
Read MoreLloyds loses £660 million on the sale of TSB
Lloyds Bank has announced the loss of £660 million on the sale of its TSB brand to the Spanish bank Banco de Sabadell. The loss created an 11% fall in pre-tax profits to £1.2 billion for the first quarter of 2015. The underlying profit was up by 21% to £2.17 billion.
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