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Share Price Information for Natwest (NWG)

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Share Price: 307.20
Bid: 307.20
Ask: 307.30
Change: -1.10 (-0.36%)
Spread: 0.10 (0.033%)
Open: 308.50
High: 310.00
Low: 300.50
Prev. Close: 308.30
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Britain's finance minister Hunt to quiz bank bosses on UK lending

Thu, 18th Jan 2024 14:33

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

HSBC, Barclays, Lloyds Banking Group , NatWest Group and Santander UK are expected to take part in the meeting, Sky News reported earlier.

"They meet regularly and discuss lots of issues - as you'd expect," one of the sources told Reuters.

"They're fairly relaxed and unstructured meetings."

NatWest, Santander and Barclays declined to comment, while HSBC and Lloyds did not immediately respond to Reuters' request for comment.

In a bid to bolster London's competitiveness as a global financial centre post-Brexit, the Treasury has set out a series of reforms and is regularly meeting with members of the financial industry to gauge effectiveness of those plans, one source with direct knowledge told Reuters.

Sky News said the meeting will also include the London Stock Exchange as it battles against New York to attract company listings. LSEG did not immediately respond to a Reuters request for comment.

Further reforms to boost investment are expected from Hunt when he presents his budget in March, and the government typically sounds out market participants ahead of such events.

Sky said Tuesday's meeting would discuss concerns over the valuations of some banks, which have seen their share prices retreat in recent months.

Barclays shares, for example, have lost around 22% in value in the last 12 months, compared with a 8.5% drop in the FTSE 350 banking index and a 4% decline in the FTSE 100.

Two industry sources played down the idea that the drop in UK bank share prices had motivated the Chancellor to convene the meeting, or that this had had a direct bearing on banks' appetite to lend into Britain's economy.

One of those sources rejected any suggestion banks were failing to meet demand to borrow due to weakened share prices.

But lower share prices do have implications for shareholder returns, analysts have pointed out, meaning bank bosses could be tempted to channel greater proportions of capital into investor payouts or stock buybacks rather than loans or mortgages.

The Bank of England has repeatedly said that Britain's banks were capitalised well enough to keep lending to households and businesses. (Reporting by Andrew MacAskill, Sinead Cruise, Elizabeth Piper and Huw Jones. Editing by Jane Merriman)

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8 Sep 2023 15:45

UK dividends calendar - next 7 days

Monday 11 September 
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Tuesday 12 September 
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Wednesday 13 September 
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Thursday 14 September 
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Alfa Financial Software Holdings PLCspecial ex-dividend payment date
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Cairn Homes PLCex-dividend payment date
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Friday 15 September 
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6 Sep 2023 16:56

LONDON MARKET CLOSE: Stocks slide as high oil prices unnerve markets

(Alliance News) - Stocks in London closed in the red on Wednesday, as elevated oil prices added to worries about the future of inflation and in turn complicated the outlook for global interest rates.

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6 Sep 2023 14:54

Crisis-hit NatWest picks Haythornthwaite as chairman

Ocado chair set to take over as NatWest chair in April

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6 Sep 2023 14:03

UPDATE: NatWest confirms Ocado's Haythornthwaite as chair from April

(Alliance News) - NatWest Group PLC on Wednesday confirmed it has appointed Rick Haythornthwaite as its new chair from April 15 next year, the move coming less than two months after the bank replaced its chief executive amid a row over the de-banking of UK politician Nigel Farage.

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6 Sep 2023 13:43

NatWest confirms Haythornthwaite will join as chair

Sept 6 (Reuters) -

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6 Sep 2023 13:18

PRESS: NatWest picks former Centrica chair as new chair - Sky News

(Alliance News) - Rick Haythornthwaite, former chair of British Gas-owner Centrica PLC, will succeed Howard Davies as chair of NatWest Group PLC, Sky News reported on Wednesday.

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6 Sep 2023 11:03

Haythornthwaite tipped as next NatWest chairman

(Sharecast News) - NatWest Group confirmed that prominent business leader Rick Haythornthwaite would become its new chairman on Wednesday afternoon, following earlier media reports, amid ongoing controversies around the bank's decision to close accounts of political figure Nigel Farage.

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4 Sep 2023 10:55

Atrato Onsite secures new GBP30.0 million revolving credit facility

(Alliance News) - Atrato Onsite Energy PLC on Monday said it has signed a new GBP30.0 million revolving credit facility with NatWest Group PLC.

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1 Sep 2023 09:19

NatWest appoints former Nationwide CFO to its UK bank board

LONDON, Sept 1 (Reuters) - NatWest has appointed Mark Rennison, a former Nationwide Building Society Chief Financial Officer, to the board of its ring-fenced retail bank, the British lender said on Friday.

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1 Sep 2023 00:01

Some UK banks improving interest rates for savers, says watchdog

LONDON, Sept 1 (Reuters) - More savings accounts are offering higher interest rates as a more competitive market emerges, though regulatory intervention may still be needed to ensure customers are getting fair value, Britain's Financial Conduct Authority (FCA) said on Friday.

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29 Aug 2023 14:53

Most European banks' deposits hit as savers hunt for deals -S&P

LONDON, Aug 29 (Reuters) - A majority of large European banks reported a fall in deposits over the year to June 2023 as customers shopped around for better savings deals, according to an analysis published by ratings agency S&P on Tuesday.

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21 Aug 2023 15:59

IN BRIEF: NatWest chief people & transformation officer sells shares

NatWest Group PLC - Edinburgh-based lender - Group Chief People & Transformation Officer Jen Tippin sells 58,800 shares at GBP2.26 each, worth GBP132,892, in London on Monday.

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18 Aug 2023 10:22

UK banking stocks are undervalued, says Shore Capital

(Sharecast News) - Shore Capital has reiterated its 'buy' ratings on six UK-listed banking stocks, saying the market is currently pricing in a "far worse outlook".

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17 Aug 2023 22:30

Britain makes access to fee-free cash machine a legal right

LONDON, Aug 17 (Reuters) - Nearly everyone in Britain will remain within three miles (4.8 km) of a cash machine that does not charge fees despite the dwindling use of notes and coins, the finance ministry said on Thursday.

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15 Aug 2023 11:45

NatWest avoids CMA fine for breaching parts of UK retail banking order

(Alliance News) - The UK Competition & Markets Authority on Tuesday said it decided against imposing formal enforcement action on NatWest Group PLC, after it found the bank breached part of the UK retail banking order.

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