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...Analysts at RBC estimate that the episode could end up costing it £2.5bn, more than any of its rivals....
...“A downgrade to 2025 targets is disappointing,” Anke Reingen, an analyst at RBC Capital Markets, said of BNP....
...RBC is also required to boost or maintain French, Mandarin and Cantonese language services....
...“In a global context, the performance remains disappointing,” said Frédérique Carrier, head of investment strategy for RBC Wealth Management in the British Isles and Asia....
...This article has been amended since initial publication to take into account RBC Capital Markets’ most recent estimates for banks’ redress costs...
...Experts said it was too early to predict the hit from the regulatory probe but estimates from banks including Jefferies, JPMorgan, HSBC, RBC Capital Markets and Shore Capital range from £6bn to £16bn for...
...Lloyds has the largest exposure to the sector, with RBC estimating the high street bank could suffer a £2bn hit....
...If enacted, banks could have to start reporting the more detailed information starting next quarter. “We need more granularity,” said Gerard Cassidy, a bank analyst at RBC Capital Markets....
...Benjamin Toms, an analyst at RBC Capital Markets said the announcement was “further evidence” that the UK retail banking sector was “a tough environment” for lenders that lacked scale and did not specialise...
...Investors are “still not all in on the banks”, said RBC banking analyst Gerard Cassidy. “It’s because of the scar tissue that’s still around from March of last year.”...
...Sainsbury’s Bank has less than 5 per cent share of UK consumer lending, reckons RBC Capital; Tesco is marginally higher at 5 to 6 per cent....
...Benjamin Toms, an analyst at RBC Capital Markets, said the transaction would “potentially lead to increased competition in the UK mortgage and savings market” and increase the building society’s share of...
...Mark Dowding, chief investment officer at RBC BlueBay Asset Management, said the impact of any intervention would be expensive and temporary....
...being certainly more timid we think it will allow the ECB, as indicated, to cut rates in June while we could see the Fed cut being pushed out to July,” said Kaspar Hense, a senior portfolio manager at RBC...
...Payment increases range from a weighted average of 32 per cent next year to 48 per cent in 2026, according to RBC. For Canada’s Big Six banks, the biggest concern is mortgage defaults and losses....
...The chart below is taken from a November RBC note: At the end of 2023, Barclays’ notional structural hedge had a value of £246bn....
...Benjamin Toms, an analyst at RBC, described the launch as a long-term “defensive” move designed to attract a younger generation of customers and convert them to other HSBC products....
...“It’s looking increasingly likely that we will end up with a short and shallow rate cutting cycle this time around,” said Mark Dowding, chief investment officer at RBC BlueBay Asset Management, who argued...
...“Bank reserves are adequate right now because we are nowhere near the stress levels of back then,” said Gerard Cassidy, a bank analyst at RBC Capital Markets....
...Mark Dowding, chief investment officer at RBC BlueBay Asset Management, said: “All of this has a negative influence on UK public finances — it feeds back into politics....
...Though that capital is released into the income statement over time, this process mutes earnings growth from new business, points out RBC Capital Markets....
...“This used to be a bank that was expected to return a 14 to 16 per cent Rote in the medium term,” said Benjamin Toms, an analyst at RBC Capital Markets....
...Economists at RBC Capital Markets estimate net issuance will rise by 12.7 per cent from the current financial year....
...Unsurprisingly, these trends have spurred a flurry of activity among banks and wealth managers across the region, and beyond....
...The rethink on US rates has also spilled over to European markets, with investors now pricing in three cuts for the European Central Bank and two for the Bank of England in 2024, down from more than six...
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