StanChart Reports Q4 Loss; To Issue Dividend and Buyback Stock
Standard Chartered (StanChart) reported 4Q2020 pre-tax statutory losses of $449mn as compared to $194mn during the same period in 2019. Annual profits came at $1.6bn in 2020 vs $3.7bn in 2019, down 57%. Major drawdowns to the profits were seen through credit...
Lloyds Bank Profits Down 72% For 2020
UK’s Lloyds Banking Group reported statutory pre-tax profits of £1.2bn ($1.7bn) down ~72% YoY for 2020. Net income was at £14.4bn ($20.4bn) down 16% YoY and net profits at £1.4bn ($1.97bn) down 54% YoY, reflecting lower interest rates and reduced levels of customer...
OCBC Q4 Earnings Beat; Sees Signs of Recovery
Singapore’s second largest lender OCBC reported a 9% fall in Q4 profits YoY, dragged by lower total income. The bank reported positive loan growth, deposit growth, higher fees and commissions, customer treasury activities and assets under management in the last...
Aviva Sells French Business To Aema For $3.9bn
British insurance company Aviva announced via a statement on Tuesday that it has agreed to sell its French business to French mutual insurer Aema Groupe, a recently created entity from the merger of Aesio and Macif, for €3.2bn ($3.9bn). This is the largest deal since...
