Edition:
India

Lawrence White

HSBC swaps paper records for blockchain to track $20 bln worth of assets

27 Nov 2019

LONDON HSBC aims to shift $20 billion worth of assets to a new blockchain-based custody platform by March, in one of the biggest deployments yet of the widely-hyped but still unproven technology by a global bank.

Britain's TSB to cut 82 branches in strategy overhaul, up to 400 may go

25 Nov 2019

LONDON/MADRID British bank TSB said it will shut 82 branches next year, or 15% of its network, in a turnaround plan that aims to save a total of 100 million pounds ($128 million) by 2022 and which a source said could mean the loss of up to 400 jobs.

TSB to cut 82 branches in strategy overhaul, up to 400 may go

25 Nov 2019

LONDON/MADRID British bank TSB said it will shut 82 branches next year, or 15% of its network, in a turnaround plan that aims to save a total of 100 million pounds ($128 million) by 2022 and which a source said could mean the loss of up to 400 jobs.

Britain's Nationwide reports profits fall 33% as spending, competition bite

22 Nov 2019

LONDON Nationwide Building Society reported a 33% fall in profit for the first half of its financial year, as it took a fresh charge for mis-selling insurance products and saw margins fall in Britain's competitive mortgage market.

UPDATE 1-Britain's Nationwide reports profits fall 33% as spending, competition bite

22 Nov 2019

* Lender says technology spending on track (Adds further details)

TSB and parent Sabadell heavily criticized for IT crash that locked two million out of accounts

19 Nov 2019

LONDON An IT crash at Britain's TSB bank that locked out nearly 2 million customers and halved parent Sabadell's profits last year was caused by moving to a new banking platform before it had been properly tested, an investigation has found.

StanChart flags risk to profit goal from slowing growth, lower rates

30 Oct 2019

HONG KONG/LONDON Standard Chartered flagged risks on Wednesday to its key returns target citing slowing global economic growth, trade tensions and protests in its biggest market of Hong Kong, after posting a forecast-beating 16% growth in quarterly profit.

HSBC warns of restructuring pain ahead as outlook darkens

28 Oct 2019

HONG KONG/LONDON HSBC Holdings Plc dropped its 2020 profit target, reported a sharp fall in earnings and warned of a costly restructuring, as interim Chief Executive Noel Quinn seeks to tackle its problems head-on in his bid for the full-time role. | Video

Barclays cautions on profit targets despite third-quarter trading boost

25 Oct 2019

LONDON Britain's Barclays said a worsening global economic outlook means it may be hard to meet its profit targets, despite reporting better-than-expected results at its under-pressure investment bank in the third quarter. | Video

Metro Bank reports third-quarter loss, deposit outflows as Chairman exits

23 Oct 2019

LONDON Britain's troubled Metro Bank reported a loss for the third quarter, said its chairman Vernon Hill has stepped down two months early, and warned it may have to curb its growth plans as it battles to recover from an accounting scandal.

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