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LONDON: Britain’s banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher “worst-case” scenarios into their risk models.
IT was the big idea at mid-year but already there’s some trepidation that a Transatlantic switch from US to European equities may have jumped the gun.
LONDON: Britain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to take tougher "worst-case" scenarios into their risk models.
TOKYO: Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest lender by assets, said on Tuesday its first-quarter net profit more than halved as credit-related costs ballooned due to the coronavirus pandemic.
LONDON: HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to US$13bil this year and said its profits more than halved, as the coronavirus pandemic hammered the bank’s retail and corporate customers worldwide.
BANGKOK: Thailand’s central bank is widely expected to leave its key interest rate unchanged at a record low after three cuts this year to help cushion the economic impact of the coronavirus pandemic, a Reuters poll showed.
HONG KONG, Aug 3 (AFP): HSBC on Monday said profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions.