Marius Pantea’s Post

💡 According to a UK survey, banks close 142,000 new accounts annually. ⏩ According to an ongoing #investigation by the cross-party Treasury Committee in Britain, eight of the major banks in the nation closed around 142,000 small company accounts in the past year due to worries that certain enterprises were having trouble obtaining #financing. ⏩ According to data provided by Barclays, HSBC, TSB, Lloyds, Santander, NatWest, Metro, and #Handelsbanken, 2.7% of the 5.3 million business accounts owned by small businesses were closed due to risks associated with taking on new ventures and worries about financial crime. ⏩ Treasury Committee Chair Harriett Baldwin stated in a statement, "We can see from these figures that thousands of small #businesses fall foul of their bank's risk appetite definition, leaving them without access to a bank account." Out of 4,214 cases, just three banks cited "risk appetite" as a rationale for account closure. To share your startup story write us on - contact@startuprise.co.uk #bank #uk #financialcrime #bussiness

Big moves: Old Mutual’s financial performance Soars as it prepares to venture into banking sector. Old Mutual is gearing up to make waves in the banking sector with the launch of its new bank “by the end of this year”. South Africa’s second-largest insurer applied for a banking licence in 2022. Last week, when the group presented its 2023 results, chief executive Iain Williamson said Old Mutual completed building the bank’s core functionality at the end of last year, “within budget and on time – it cost us R1.75 billion to stand up the capability”. Read the full article to get further insights on the financial performance in 2023: https://buff.ly/3vIHcy3 #OldMutual #annualresults #IainWilliamson #massmarket #valueofnewbusiness #lifesales #moonstoneinfo #moonstoneupdate #industrynews

#Shares in Lloyds Banking Group PLC (LSE:LLOY) are up around 1.1% after #MorganStanley named it as its top UK banking pick. “Deposit mix migration has slowed down during Q3, which could make 4Q [net interest margins] less bad than feared and provides better visibility for 2024.”  “We re-iterate our positive view on UK banks, and see Lloyds Bank as Top Pick.”  For #Lloyds, the broker forecast [net interest margin] would fall 6 basis points quarter-on-quarter to 3.02% in-line with company guidance and consensus.  For 2024, it predicts a 2.94% NIM which is also consistent with the guidance of "below 3%".  It estimates a £500 million provision release related to the write-back of the Telegraph debt in December, which leads it to raise its share buyback expectations from £2 billion to £2.5 billion, higher than consensus at £2.2 billion.  More at #Proactive #ProactiveInvestors #LSE #LLOY http://ow.ly/VGgH1058B50

💡 The Bank of England's latest stress test reveals that the UK’s top lenders, including HSBC, Barclays, Lloyds Banking Group and NatWest, can be safely dismantled in a crisis without taxpayer #bailouts. “Our assessment gives further reassurance that if a major UK bank were to fail today, it could enter resolution safely,” said the BoE. 🏦 However, there are areas for improvement, particularly for Standard Chartered. As BoE Deputy Governor Dave Ramsden emphasised, “resolvability will never be done.” 🔗 https://lnkd.in/efyya4Us 🔍 #Banking #Finance #Leadership #Resolvability #RiskManagement #UKEconomy

Big moves: Old Mutual’s financial performance Soars as it prepares to venture into banking sector. Old Mutual is gearing up to make waves in the banking sector with the launch of its new bank “by the end of this year”. South Africa’s second-largest insurer applied for a banking licence in 2022. Last week, when the group presented its 2023 results, chief executive Iain Williamson said Old Mutual completed building the bank’s core functionality at the end of last year, “within budget and on time – it cost us R1.75 billion to stand up the capability”. Read the full article to get further insights on the financial performance in 2023: https://buff.ly/4aFflOq #OldMutual #annualresults #IainWilliamson #massmarket #valueofnewbusiness #lifesales #moonstoneinfo #moonstoneupdate #industrynews

Four people with knowledge of the situation said on Thursday that Britain's finance minister, Jeremy Hunt, will meet with the leaders of the country's leading banks on Tuesday to get their assurances about their ability to continue lending to the economy. The following companies are anticipated to attend the meeting: Santander UK (SANS_pa.L), HSBC (HSBA.L), Barclays (BARC.L), Lloyds Banking Group (LLOY.L), NatWest Group (NWG.L), and Santander UK (HSBA.L), according to an earlier report from Sky News. Source - Reuters Follow us for daily updates 👍 #brandsandbusinessmagazine #business #businessnews #magazine #news #internationalnews

Last week, Lloyds Banking Group launched our social housing initiative “Building Futures”, chaired by our CEO, Charlie Nunn. We addressed several pressing questions: How can we return to the social housing delivery levels of 1948-1970? What are the sustainable options for long-term rent settlements? How can we effectively combine public and private capital to innovate new home delivery methods? Interested in learning more? Explore our white paper, “Building Futures” via the link below👇 https://lnkd.in/eiNFZc4B #lloydsbank #affordablehousing #socialhousing

💥💼 Britain's top eight banks, including HSBC, Barclays, Lloyds, and NatWest, could be wound down in a crisis without needing taxpayer cash, according to the Bank of England's latest 'resolvability' check. 📊💷 It's a reassuring sign of resilience in the financial sector. Let's hope these measures never need to be tested! 🤞🔐 #BankingResilience #UKBanks #FinancialStability #BankOfEngland #HSBC #Barclays #Lloyds #NatWest #EconomicSafety 🏦🇬🇧 🚦🚨🔍💡

💥💼 Britain's top eight banks, including HSBC, Barclays, Lloyds, and NatWest, could be wound down in a crisis without needing taxpayer cash, according to the Bank of England's latest 'resolvability' check. 📊💷 It's a reassuring sign of resilience in the financial sector. Let's hope these measures never need to be tested! 🤞🔐 #BankingResilience #UKBanks #FinancialStability #BankOfEngland #HSBC #Barclays #Lloyds #NatWest #EconomicSafety 🏦🇬🇧 🚦🚨🔍💡

It's never the large corporations and institutions the ones affected by crisis, either financial or cost of living 'Major banks made a profit of more than £9bn from the Bank of England’s money-printing programme last year. Four large high street lenders were paid £9.3bn in interest on reserves parked at Threadneedle Street last year, more than double the £3.9bn they were handed in 2022. Losses suffered by the Bank of England are ultimately borne by the taxpayer. The payments are largely a legacy of quantitative easing, where the Bank pumped newly created money into the economy during the financial crisis and Covid pandemic. Threadneedle Street used this money to buy bonds, typically from high street banks, who then parked the cash in Bank of England accounts where it earns interest.' Rising rates have driven up profits for the banks as a result. In correspondence with MPs on the Treasury Select Committee, NatWest revealed it was paid £2.9bn last year, Lloyds Banking Group £3.6bn, Santander £1.9bn and Barclays £1.9bn.