London-based emerging markets bank, Standard Chartered, has today posted half-year pre-tax profits of $3.6 billion (£2.2 billion) – a rise of 17% compared with the same period a year ago. The figures represented its ninth consecutive first half of record profits and beat expectations of $3.47 billion. The bank, which has a strong presence in [...]
London-based emerging markets bank, Standard Chartered, has today posted annual pre-tax profits of $6.122 billion (£3.76 billion) compared with $5.151 billion in 2009. The bank, which has a strong presence in Asia, said the rise was driven by a fall in loan impairment losses, which dropped 56% to $883 million. The bank has weathered the [...]
London-based emerging markets bank, Standard Chartered, has purchased GE Money’s specialist car and personal loans business in Singapore. The deal will further strengthen the Asia-focused bank’s operations in Singapore. While financial details were not disclosed, sources close to the transaction said the bank was paying “just under” one billion Singaporean dollars. The acquisition will be [...]
Banking giant Barclays is understood to be exploring a number of options that would boost its capital reserves, in order to meet new Basel III regulations. The Basel III rules recently agreed banks need to look to capitalise around 7% and Barclays is rumoured to be issuing a special bond that would enable it boost [...]
The bosses of Britain’s top six banks have revealed a £1.5 billion fund, designed to kick-start lending to small businesses. It was announced in August that the chief executives of Barclays, Royal Bank of Scotland, Lloyds Banking Group, Standard Chartered and the heads of the UK operations of HSBC and Santander, would address the shortage [...]
London-based emerging markets bank, Standard Chartered, has today announced plans to tap investors for £3.3 billion by selling fresh shares in the banking group. The cash call, which represents the biggest for the bank, comes after new Basel III regulations, which agreed how much equity banks must hold in reserve in order to prevent another [...]
London-based emerging markets bank, Standard Chartered, is looking to free itself from stricter regulations in Britain by considering relocating to the Far East. The bank, which already has a strong presence in the Far East, said relocation “is something we do look at but we have no plans to move.” According to The Times newspaper, [...]
Standard Chartered bank has today unveiled a 10% increase in profits for the half-year ending June 30. The bank, which has a strong presence in Asia, said pre-tax profit came in at £1.96 billion during the six month period, a rise from the £1.78 billion it made in the same period a year earlier. Commenting [...]
In a trading update today, London-based Standard Chartered bank said it is on target for a strong performance for the half-year ending June 30. Standard Chartered has weathered the downturn better than many of its rivals due to strong capital and liquidity and recently said it has had a “very strong start to the year [...]
London-based bank Standard Chartered today announced record first quarter profits and income. The bank, which has a strong presence in Asia, said wholesale banking showed robust results in the three months ending 31 March. In wholesale banking, which includes advisory, trade finance and other investment banking business, client income was up by more than a [...]
London-based bank Standard Chartered today announced a rise in pre-tax profits – meeting analysts expectations. The bank, which has a strong presence in Asia, said pre-tax profits in 2009 were £3.4 billion ($5.15 billion), a rise of 13% on 2008 figures. Meanwhile, revenue was up 9% to £10.14 billion ($15.18 billion). However, while many other [...]
London-based bank Standard Chartered today issued a positive statement and said it is on target for a record profit this year. The bank, which has a strong presence in Asia, said that in the 11 months to the end of November it had delivered a strong performance with “record levels of income and operating profit [...]
Barclays has confirmed a 3-year title sponsorship deal of the Premier League worth £82.25 million. The deal will run from the 2010-11 season until the end of the 2012-13 season. The banking giant has sponsored the Premier League since 2004 and their current three-year contract is worth £65.8 million, but expires next year. Barclays is [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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