Lloyds Reports Solid Results, NIM Expansion; NatWest Reports Profit Jump, NIM Compression
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...
UK Govt Sells 5% Stake in NatWest for £1.1bn
The UK government sold a £1.1bn ($1.5bn) stake in NatWest Group, which had received an injection of over $63bn during the 2008 financial crisis. The Treasury sold 580mn NatWest shares to undisclosed institutional investors at 190p per share via an accelerated book...
