Lloyds Takes £450 Million Provision for Car Finance Review [BNN Bloomberg (Canada)]
NatWest Group plc American Depositary Shares (NWG)
Company Research
Source: BNN Bloomberg
Still, the bank pledged to buy back as much as £2 billion of its shares and raised its dividend as fourth-quarter earnings slightly beat analyst expectations. The Financial Conduct Authority is looking into whether motor loan deals were sold and priced in a way that treated customers fairly. Lloyds, which has been the biggest provider of this finance in the past, said there is “significant uncertainty as to the extent of misconduct and customer loss” and costs could change. Pretax profit rose to £1.78 billion in the fourth quarter, above a Bloomberg-compiled estimate (£1.73 billion). Net interest margins dropped slightly to 2.98%, compared to 3.22% in the same period last year, as the boost from higher interest rates gives way to growing competition for savers and borrowers. Loans and advances at Britain's biggest mortgage lender fell about £5.2 billion to £449.7 billion. Lloyds said its results were helped by a “significant write-back,” without disclosing the amount or the b
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NWG
Sec Filings
- 5/3/24 - Form 6-K
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- NWG's page on the SEC website