LONDON Britain's Metro Bank swung to a 240 million pound ($314 million) first half loss on Wednesday after it took provisions to cover coronavirus crisis-related loan impairments.
LONDON, Aug 5 Britain's Metro Bank
swung to a 240 million pound ($314 million) first half loss on
Wednesday after it took provisions to cover coronavirus
crisis-related loan impairments.
LONDON Britain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher "worst-case" scenarios into their risk models.
LONDON/HONG KONG HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to $13 billion this year and said its profits more than halved, as the coronavirus pandemic hammered the bank's retail and corporate customers worldwide. | Video
LONDON NatWest Group plunged into the red in the first half of the year after setting aside a fresh 2.1 billion pound provision against a potential surge in loan losses due to the COVID-19 pandemic.
* Bank sets aside 2.1 bln pounds in bad loan provisions in
HONG KONG/LONDON Standard Chartered PLC on Thursday posted a 33% fall in first-half profit after credit impairment charges jumped six-fold as a result of the coronavirus pandemic, and said it would continue to keep a tight lid on costs.
LONDON Barclays set aside a higher than expected 1.6 billion pounds ($2.1 billion) to cover a possible rise in loan losses in the second quarter and warned a grim outlook and low interest rates would hurt profits into 2021. | Video
WASHINGTON The U.S. Supreme Court will decide whether American corporations can be sued for alleged human rights abuses occurring abroad under a 1789 law, agreeing on Thursday to hear appeals by two companies - Cargill Inc and a Nestle SA subsidiary - accused of knowingly helping perpetuate slavery at Ivory Coast cocoa farms.
LONDON HSBC investor Federated Hermes said it has questions about the bank's support for China's new security law for Hong Kong, the second investor in Europe's biggest bank in recent weeks to voice concerns about the lender's stance.