Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS Recognised
8 CPD Hours

20 July 2022 (Wednesday) | 9am-5pm

Lloyds Bank reported profit after taxes of £1.6bn ($2.2bn), up 2.3x YoY. Net income jumped 20% YoY to £4.1bn ($5.6bn) benefiting from “increased average interest-earning assets”. Banking net interest margins (NIM) stood at 2.55%, up 13bp YoY with its cost-to-income ratio also dropping to 48.3% in the quarter vs. 56.9% during the same period last year. Similar to peers Barclays and HSBC, Lloyds’ results were boosted by the release of £84mn ($115mn) it had set aside for bad loans last year. Its CET1 ratio stood at 17.2%, up 50bp QoQ. Lloyds’ USD 7.5% Perp was down 0.4 points to 114.82, yielding 3.4%.

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NatWest reported good results with attributable profits of £674mn ($922mn), up over 10x YoY. Profits were helped by a net impairment release of £242mn ($331mn) and despite a £294mn ($402mn) litigation and conduct charge. Total income increased by 14.5% to £2.8bn ($3.8bn). However, it reported a contraction in its net interest margin to 1.54%, from 1.65% a year ago. CEO Alison Rose said, “Although we are seeing challenges in the economy and for our customers — especially around supply chains and the cost of living — a number of key indicators remain positive”. Its CET1 ratio stood at 18.7%, up 50bp QoQ. NatWest’s USD 4.6% Perp was down 0.2 points to 99.05, yielding 4.7%.

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