Credit Suisse shares plunge as SNB rules out further support
15th Mar 2023 11:40
(Sharecast News) - Shares in Credit Suisse plunged to a record low on Wednesday, after a key investor ruled out providing further capital.
Read moreCiti reiterates 'buy' rating on four UK bank stocks
10th Mar 2023 13:38
(Sharecast News) - Citi reiterated its 'buy' rating on Lloyds, NatWest, Barclays and Virgin Money on Friday.
Read moreBerenberg lowers target price on NatWest
20th Feb 2023 13:02
(Sharecast News) - Analysts at Berenberg lowered their target price on banking group NatWest from 380.0p to 360.0p on Monday, stating "conservative guidance" had provided a floor.
Read moreNatWest in £800m buyback as full-year profits rise to £5bn
17th Feb 2023 07:03
(Sharecast News) - Shares in Britain's NatWest slumped on Friday despite the bank reporting annual profits up by more than a third and unveiling an £800m share buyback as it cashed in on surging interest rates.
Read moreFriday preview: UK retail sales, NatWest Group in the spotlight
16th Feb 2023 11:26
(Sharecast News) - The market spotlight at the end of the week was likely to shift back towards the UK.
Read moreNatWest to buy 85% of Cushon for £144m
13th Feb 2023 16:00
(Sharecast News) - NatWest has agreed to buy 85% of workplace savings and pensions fintech business Cushon for £144m.
Read moreRBC Capital Markets upgrades Lloyds, downgrades NatWest
25th Nov 2022 08:05
(Sharecast News) - RBC Capital Markets upgraded Lloyds on Friday, but downgraded its stance on shares of NatWest.
Read moreUK govt unlikely to impose windfall tax on banks - report
31st Oct 2022 08:39
(Sharecast News) - Bank stocks rallied on Monday following a report the government had denied suggestions it is considering a windfall tax on the sector as one means of closing the budget hole.
Read moreSunday newspaper round-up: Bank windfall tax, Octopus Energy, Royal Navy
30th Oct 2022 10:24
(Sharecast News) - Two high-ranking sources near to the new Prime Minister and Chancellor gave short shrift to the idea that a new tax might be levied on lenders. Indeed, during his time as Chancellor, Rishi Sunak had looked at ways to bolster the City after Brexit, whereas bankers have been warning Jeremy Hunt that a tax raid would only hamstring such plans. Furthermore, government sources expect that Hunt will lower the current eight per cent tax surcharge on banks' earnings to three per cent, as had also been planned by Sunak, while raising corporation tax from 19 per cent to 25 per cent for a total levy on banks of 28 per cent. - The Sunday Times
Read moreNatWest Q3 profits slip amid 'challenging environment'
28th Oct 2022 07:29
(Sharecast News) - UK bank NatWest said on Friday that profits had missed expectations, even as it continued to deliver a strong financial performance in the third quarter despite operating in a "challenging environment".
Read moreNatWest to create banking-as-a-service business with Vodeno
20th Oct 2022 09:37
(Sharecast News) - NatWest said on Thursday that it has entered into a strategic partnership with the Vodeno Group to create a banking-as-a-service business in the UK.
Read moreHunt mulling windfall tax for banks - report
19th Oct 2022 07:11
(Sharecast News) - New chancellor Jeremy Hunt is considering upping the amount of tax paid by banks as he looks to plug funding gaps, it was reported on Wednesday.
Read moreSunday newspaper round-up: Banks, Asos, UK defence spending
16th Oct 2022 18:32
(Sharecast News) - The Chancellor, Jeremy Hunt, may consider a windfall tax on banks that could raise as much as £90bn. Hunt has indicated that all options to balance the books are under review and he urgently needs to restore the UK's credibility. Just during the previous week, Bank of England deputy governor, Paul Tucker, urged the government to study the possibility of reducing the interest paid on some of the deposits of lenders with the bank. The potential savings from such a move could amount to £60-90bn. - Financial Mail on Sunday
Read moreNatWest to close 43 branches
13th Oct 2022 15:52
(Sharecast News) - NatWest said on Thursday that it was closing 43 branches across the UK as it looks to move retail banking online.
Read moreSunday newspaper round-up: Tiering, Virgin Orbit, Octopus Energy
9th Oct 2022 13:45
(Sharecast News) - The UK's biggest lenders may be facing a huge windfall tax as the Chancellor casts about for ways to calm financial markets, City sources said. The target may be some of the interest payments due to be paid on the hundreds of billions of pounds in deposits placed with the Bank of England, through what is known as 'tiering', mainly to the likes of Lloyds, NatWest and HSBC. That might net the Treasury approximately £10bn, at a cost of a fifth of major UK lenders' annual profits, according to estimates from Numis. Nonetheless, the Treasury itself has played down the possibility of a shift towards tiering as it "risks damaging the UK's fiscal credibility". - The Financial Mail on Sunday
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