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eccles04, BruceJamieson,
Sorry boys interest rates plays a massive factor for Lloyds loan growth
"""Lloyds Banking Group has warned its profitability will drop in the next year despite signs of an improvement in the UK’s economic outlook, as competition in the mortgage market and low interest rates weigh on revenues."""
Lloyds warns profitability to fall as low interest rates take toll
Lloyds Banking Group has warned its profitability will drop in the next year despite signs of an improvement in the UK’s economic outlook, as competition in the mortgage market and low interest rates weigh on revenues.
William Chalmers, chief financial officer, said: “There’s no question that the environment presents its challenges, principally in the context of the low interest rate environment. But we do see our business model being the right one.”
https://www.google.com/amp/s/amp.ft.com/content/a687031a-53b1-11ea-90ad-25e377c0ee1f
Nowt to do with higher interest rates livestock. Throughout the 19 cty interest rates were very low and yet the British economy grew like Topsy, of course profit was not a dirty word in those days.
I don't buy that argument. The difference between retail rates and whole sale ones is much the same whatever base rate I'd. Many of the rates are usurious whatever the base rate,
seany123
The UK banks need an interest rate rise to start making money on loan growth, The US banking is running differently with (ZIRP NIRP ) policy , The government's new fiscal policy will be announced on March 11 regarding spending will stimulate growth in the economy ,it will increase spending for goods and services . Consequently government spending tends to speed up economic growth
Good report Seany, thanks but few large businesses do much better than 10% because they are too cumbersome and tend to carry a lot of dead wood. Small businesses know that they cannot afford to carry "dead wood" so they don't. E.g. How many small businesses employ a financial controller, a personnel manager or a legal executive - answer NONE! Because they don't make money and there are several other high paid animals as well as these in most large businesses.
It is facts. The banks are in a bad place, I think a reduction in the CT surcharge and capital requirements will kick the share prices and the economy up. Look at the US.
Sean
Media driven comments are often the poorest of comments - are they not?
IK comments are just that .
What are ur thoughts?
Sorry. Just think it’s best if you know this stuff. Xx
Why big UK and European banks are struggling to grow returns
Sky's Ian King says the UK bank reporting season has thrown up some common challenges for the country's biggest lenders.
Ian King
Ian King
Business presenter @iankingsky
Thursday 20 February 2020 20:59, UK
The financial offices of banks, including Barclays, Citi, HSBC, in the financial district of Canary Wharf, are pictured from Greenwich in London on October 29, 2017. / AFP PHOTO / Tolga AKMEN (Photo credit should read TOLGA AKMEN/AFP/Getty Images)
Image:
Canary Wharf is home to both HSBC and Barclays
Why you can trust Sky News
The big four lenders that dominate the UK's banking market - Barclays, RBS/NatWest, HSBC and Lloyds - have completed reporting their results for the year and, with those results, there were some common themes.
Perhaps the most important theme was this.
Lloyds, Barclays and RBS/NatWest all lowered their targets for "Return on Tangible Equity", or RoTE, for the year.
Barclays bank logo
Image:
Barclays has admitted it will be difficult to hit its 10% RoTE target
RoTE is a very important measure of profitability for a bank and its shareholders.
Simply put, it is a measure of how effective a bank is at generating profits from its equity, the money invested by its shareholders. A RoTE of 10% is regarded as reasonable.
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So, when banks cut that target, it suggests they regard their prospects as having deteriorated.
To take them in turn: Barclays announced on Thursday last week that it achieved a RoTE of 9% for 2019 but admitted that it would be "challenging" to hit the target of greater than 10% it had hoped to achieve in 2020.
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The following day, Alison Rose, the new chief executive of RBS - soon to change its name to NatWest - admitted that, while the bank achieved a RoTE of 9.4% in 2019, she was abandoning the target of 12% set by her predecessor, Ross McEwan.
Instead, she said, the bank was targeting a RoTE of 9% to 11% "in the medium to long term".
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On Thursday, Lloyds Banking Group reported a RoTE for 2019 of 7.8% but insisted that, had it not been for another thumping set of provisions for past mis-selling of Payment Protection Insurance, the underlying figure was closer to 14.8%.
But it too reduced its expectations for this year, saying it was targeting a RoTE of 12% to 13%, down from the previous guidance of 14% to 15%.
As for the other member of the bi