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...The UK nonprime lending market — which lends to riskier customers who do not have good credit scores — has shrunk by more than a third since 2019, according to a study by credit check provider ClearScore...
...Jin said his successor would be chosen by an election, with the winning candidate requiring the support of a “supermajority” of two-thirds of the bank’s members and three-quarters of its voting power....
...About 3,600 people work in the bank’s risk teams....
...Abrdn dropped out of the FTSE 100 last August, and its shares have fallen by a fifth over the past year, underperforming its peers....
...Poor data undermines trust and skews forecasting — as several central banks, including the Bank of England, discovered when it came to inflation....
...Shell alone has contributed almost a third of the FTSE 100’s gains in 2024....
...JPMorgan Chase captured almost a fifth of all US bank profits in the first nine months of 2023, capitalising on a year of turmoil for the country’s financial sector to emerge even more dominant....
...Shares of ICBC, the largest state-owned lender, are up a fifth in the past year. Yet they still trade at just 0.4 times its tangible book value, a fraction of that of its regional peers....
...Ireland’s AIB believes it could be fully back in private hands in 2025, as a buyback next month prepares to reduce the government’s stake in the country’s second-biggest bank to just over a third....
...Hong Kong-listed shares of Evergrande fell a fifth before trading was halted on Monday morning....
...Orcel has quashed speculation about smaller local peer Banca Popolare di Sondrio. One problem is the tightly-clustered valuations of Italian and, indeed, European banks....
...A $3bn charge on HSBC’s stake in China’s Bank of Communications, in which it has a 19 per cent holding, is significantly larger than the charge peer Standard Chartered has taken on its China bank stake,...
...Its share price has shot up, ahead of European banks that have already outrun their global peers. This playbook is hardly original....
...Coventry is the UK’s third-largest mutual lender with about 2mn members and assets of £62.5bn....
...The changes Fraser outlined last year are resulting in at least 20,000 job cuts at Citi, the third-largest US bank by assets....
...One study of a British reform in 2018 found that companies facing new disclosure requirements closed about a fifth of the average gender pay gap....
...Third, the four largest US banks have paid out $630bn since 2013 in share buybacks and dividends, equalling more than 80 per cent of their net income — that’s what they are choosing to use their capital...
...It’s twice as rich as sort-of peers like Cadence Design Systems and Synopsis....
...In the fourth quarter, Blackstone more than doubled its liability to UC, raising it from $260mn at the end of the third quarter to $560mn by the end of 2023, according to a securities filing....
...At 16 times forward earnings, its shares still trade at a discount to global peers. There is room for growth. june.yoon@ft.com...
...Tim Spence, chief executive at Fifth Third Bank, based in Cincinnati, Ohio, said the competition for deposits remained “robust”, but that banks were no longer having to offer customers such generous terms...
...The fifth recommendation is extraordinary....
...Bank of China, the most internationally exposed bank among its peers, now operates a sprawling network of 534 branches, covering a third of countries globally, according to its latest annual report....
...About two-thirds of American companies are incorporated in Delaware, attracted to the small, mid-Atlantic state by its sophisticated legal system....
...Though more than two-fifths of these are non-voting shares, Amundi ends up with two of the nine director seats on the US company’s board....
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