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NatWest Group bank logo and decreasing stock graph are seen in this illustration taken March 12, 2023. "I will explore options for a NatWest retail share offer in the next 12 months subject to supportive market conditions and achieving value for money," Hunt said on Wednesday. NatWest shares dipped on Hunt's comments and were last down 1.1% at 204.7 pence, compared with a 0.2% fall in the FTSE 100 (.FTSE) index. The stock is the worst performing FTSE 100 British bank stock this year, down more than a fifth, according to Eikon data. That investment turned sour for many and shares in the renamed holding company International Distributions Service (IDSI.L) are now worth 25% less than its 330 pence offer price.

Persons: Dado Ruvic, Jeremy Hunt, Hunt, Sid, Alasdair Haynes, Nigel Farage, Alison Rose, Iain Withers, Sinead Cruise, David Milliken, Sarah Young, William James, Elaine Hardcastle, Alexandra Hudson Organizations: NatWest Group, REUTERS, Companies, NatWest, Aquis, Royal Mail, Distributions Service, Alexandra Hudson Our, Thomson

☆ NatWest admits 'serious failings' in Nigel Farage incident; shares slide after earnings
▼ + stars: | 2023-10-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. Simon Dawson | Bloomberg | Getty ImagesTrading in NatWest shares was briefly suspended on Friday morning as the stock slid after a combination of lacklustre earnings and regulators flagging possible rule-breaking in a highly mediatized case. NatWest CEO Alison Rose then admitted to discussing Farage's bank account with a BBC reporter, supplying information that was used in a story and later proved to be inaccurate. Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. NatWest Group Chairman Howard Davies said the report "sets out a number of serious failings in the treatment of Mr Farage."

Persons: Simon Dawson, Coutts, Nigel Farage, Farage, Alison Rose, Chancellor Jeremy Hunt, James Manning, Howard Davies, Mr Farage, Davies Organizations: NatWest, RBS, Bloomberg, Getty, Trading, Authority, NatWest Group, BBC Locations: London

☆ NatWest ex-CEO infringed data rights of former Brexit party leader Farage, ICO says
▼ + stars: | 2023-10-25 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 25 (Reuters) - Britain's data watchdog said on Wednesday that former NatWest CEO Alison Rose infringed Nigel Farage's data rights when she discussed the former Brexit party leader's relationship with the bank with a BBC journalist. "We fully co-operate with the ICO (Information Commissioner's Office) in its assessment of any customer complaint but it would not be appropriate for us to comment on this individual case," a NatWest spokesperson said. The ICO said in its response to Farage's complaint about the incident, seen by Reuters, that in its view Rose shared "misleading information" and that Farage's rights were infringed as a result. Farage welcomed the response and said NatWest should cut Rose's notice pay and bonuses. "It would be an outrage if she walked away with a huge sum of money," Farage said on television channel GB News.

Persons: Dado Ruvic, Alison Rose, Nigel, Coutts, Rose, Farage, Travers, Iain Withers, David Gregorio, Jonathan Oatis Organizations: NatWest, REUTERS, BBC, ICO, Reuters, Financial Times, Natwest, Thomson

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

LONDON (AP) — Shares in the troubled British lender Metro Bank bounced back by a third on Friday on reports that it has been sounding out bigger rivals to buy a chunk of its assets. Sky News reported that advisers to the bank have contacted Lloyds Banking Group and NatWest Group among others. But it stressed that “no decision has been made on whether to proceed with any of these options." Gary Greenwood, an equity research analyst for Shore Capital Markets, suggested that the business could struggle to find backers for a potential fundraising exercise. Political Cartoons View All 1202 Images“Metro Bank has been struggling for a number of years to establish itself as a profitable and self-sustaining bank," he said.

Persons: Gary Greenwood Organizations: Metro Bank, Sky News, Lloyds Banking Group, NatWest Group, London Stock Exchange, Shore Capital Markets, Bank Locations: Britain

☆ UK's embattled Metro Bank expected to struggle to raise capital with 'no easy solutions'
▼ + stars: | 2023-10-06 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The U.K.'s embattled Metro Bank has launched talks to sell a third of its mortgage book in an urgent attempt to shore up its balance sheet. LONDON — The U.K.'s Metro Bank will likely struggle to raise fresh capital to shore up its balance sheet, according to analysts, who outlined bleak prospects for the beleaguered bank. The turmoil came amid reports that the embattled bank was seeking to raise up to £250 million ($305 million) in equity funding and £350 million of debt. Metro Bank confirmed in a statement early Thursday that it was considering "how best to enhance its capital resources." Metro Bank did not immediately respond to CNBC's request for comment on the reports; nor did any of the rival banks cited.

Persons: Fitch Organizations: Metro Bank, HSBC, Lloyds Banking Group, NatWest Group, Sky News, Investment, Bank of, Barclays Bank Locations: Wednesday's

☆ Goldman says these global stocks are set to soar on share buybacks — giving one over 100% upside
▼ + stars: | 2023-09-14 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Analysts from Goldman Sachs named the European stocks they predict will announce significant buybacks until 2024 — which they say will present substantial upside to their share prices. Stocks with massive upside potential On its list of "companies forecast to execute buybacks over 2022-24," Goldman Sachs included financial players NatWest Group , Lloyds Banking Group , Barclays and BAWAG Group . NatWest Group is expected to have a share reduction of 18% between 2022 and 2024. Barclays — which is penciled to have a share reduction of 11% between 2022 and 2024 — was also rated a buy. The company is looking at a 12% share reduction over the next two years.

Persons: Goldman Sachs, Buybacks, —, Goldman, Prosus, — CNBC's Michael Bloom Organizations: Companies, NatWest Group, Lloyds Banking Group, Barclays, BAWAG Group, BAWAG, Media Locations: Europe, United States

☆ HSBC CEO on Farage-Coutts spat: 'We do not exit clients based on their lawful personal views'
▼ + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

HSBC's U.K. headquarters are seen at the Canary Wharf financial district of London on July 31, 2018. Although refusing to discuss details of other banks and their clients, HSBC boss Quinn told CNBC on Tuesday that "our policy is not to de-bank or exit a client based on their lawful personal views." "We also have a responsibility as an institution to look at any areas of financial crime compliance or we have an obligation to collect information on KYC (Know Your Customer), so we have those competing obligations but to reiterate, as a policy we do not exit clients based on their lawful personal views." The closure of Farage's account triggered a heated debate in the U.K. and rocked the domestic banking industry. NatWest CEO Alison Rose was forced to resign, after she admitted discussing details of Farage's Coutts account with a BBC reporter in the wake of his allegations.

Persons: Tolga Akmen, Noel Quinn, Coutts, Nigel Farage's, Farage, Coutts —, —, Quinn, Alison Rose, Farage's Coutts, Peter Flavel, Rishi Sunak, Jonathan Bachman Organizations: AFP, Getty, LONDON, HSBC, Trump, NatWest Group, CNBC, NatWest, BBC, Brexit Party, UKIP Locations: London, U.K

☆ NatWest reports profit rise amid fallout from Farage fiasco
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: +3 min

A sign outside a NatWest Group Plc bank branch in the City of London, UK, on Tuesday, July 25, 2023. Natwest is due to report first-half results on Friday, July 28. NatWest reported pre-tax profit of £3.6 billion ($4.6 billion) for the period, compared to £2.6 billion the prior year and above the £3.3 billion average of analyst forecasts compiled by the bank. NatWest remains under pressure over the Farage scandal. NatWest is nearly 40% taxpayer-owned following its bailout during the 2008-2009 global financial crisis, adding more weight to the government's position.

Persons: Hollie Adams, Nigel Farage, Alison Rose, Coutts, Rose, Peter Flavel, Paul Thwaite, Howard Davies, Thwaite Organizations: NatWest Group, City of, Natwest, Bloomberg, Getty, NatWest, BBC, Reuters, Rivals Barclays, Lloyds, Barclays Locations: City, City of London, Britain

☆ A CEO quits and the BBC apologizes to Trump ally Nigel Farage. A banking scandal erupts in Britain
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. Prime Minister Rishi Sunak and several members of his Conservative government issued statements condemning the bank and characterizing the termination of Farage's account as an affront to free speech. Farage was offered an alternative account at regular main street bank NatWest, but declined. His critics maintain that although frequent references are made to Farage's political profile and controversial views, the reasons outlined for allowing the banking relationship to lapse were primarily commercial, and he was not "de-banked" as he claims. Without the mortgage, the bank indicated that Farage's account value would fall below its commercial criteria.

Persons: Jonathan Bachman, Alison Rose, Nigel, Coutts, Rose, Danni Hewson, AJ Bell, Farage, Coutts —, Chancellor Jeremy Hunt, James Manning, Rishi Sunak, Nigel Farage, —, DANIEL LEAL, Donald Trump, Vladimir Putin, Frances Coppola, Coppola, Dave Rushen Organizations: Getty, LONDON, NatWest, BBC, UBS, Conservative, Brexit Party, Independence Party Leader, U.K, Independence Party, UKIP, Sky News, NatWest Group, Company Locations: London, U.K, inclusivity, Leicester, British

☆ A Brexit Champion’s Feud With His Elite Bank Brings a C.E.O. Down
▼ + stars: | 2023-07-26 | by ( Mark Landler | More About Mark Landler | ) www.nytimes.com time to read: +1 min

When Nigel Farage campaigned for a fellow populist, Donald J. Trump, in Arizona in 2020, he seemed like a faded star seeking the spotlight abroad after it had swung past him at home. Having helped mobilize the pro-Brexit vote in 2016, Mr. Farage was marginalized in Britain, then consumed by the pandemic. No longer: For three weeks, Mr. Farage, has been back on the front pages of British papers, with an attention-grabbing claim that his exclusive private bank, Coutts, dropped him as a customer because of his polarizing politics. Early on Wednesday, after Mr. Farage’s allegations were largely vindicated, the chief executive of his bank’s parent, NatWest Group, resigned after she admitted improperly discussing his bank account with a BBC journalist. It was a striking turn of events for a political insurgent who became, for many, a reviled symbol of Brexit, and later, a culture warrior on right-wing television.

Persons: Nigel Farage, Donald J, Trump, Farage, Coutts, Alison Rose Organizations: NatWest Group, BBC Locations: Arizona, Britain

☆ NatWest CEO resigns after admitting to 'serious error' over Nigel Farage leak
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: +4 min

NatWest CEO Alison Rose on Wednesday stepped down with immediate effect after she admitted a "serious error of judgment" in discussing former Brexit party leader Nigel Farage's relationship with the bank with a senior BBC journalist. The board appointed Paul Thwaite to helm NatWest for an initial period of 12 months, the company said in a statement. "The board and Alison Rose have agreed, by mutual consent, that she will step down as CEO of the NatWest Group," Howard Davies, chairman of the board, said. Coutts' website advises its clients should be able to borrow or invest at least 1 million pounds with the bank or hold 3 million pounds in savings. Britain's Financial Conduct Authority (FCA) said it had urged the NatWest board to review the matter independently and welcomed its statement.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Howard Davies, Coutts, Rose, Farage, Peter Flavel, NatWest's Davies, Davies, Rose —, Simon Jack, Jack, Sheldon Mills, Andrew Griffith Organizations: NatWest, BBC, NatWest Group, BBC Business, Authority, Treasury, Reuters, Government Investments

☆ UK's FTSE 100 slips on dour earnings; NatWest falls
▼ + stars: | 2023-07-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The FTSE 100 index (.FTSE) lost 0.2%, while the more domestically focussed FTSE 250 midcap index (.FTMC) was flat. UK earnings season picked up pace with Lloyds Banking Group(LLOY.L), Britain's biggest mortgage lender, posting a pre-tax first-half profit below analysts' forecast compiled by the bank. The lender fell 2.7%, while the UK banks index (.FTNMX301010) slipped 0.9%. Rolls-Royce (RR.L) soared 19.3%, to hit its highest level in over three years after the aero-engineering company raised its full-year operating profit forecast. Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Royce, Aston Martin, Alison Rose, Nigel Farage, Georgina Cooper, Aston, Shashwat Chauhan, Eileen Soreng, Sohini Organizations: HY, U.S, Fed, Lloyds, NatWest, NatWest Group, BBC, Lloyds Banking Group, BNY, Equity, Rio Tinto, Royce, Dunhill, Tobacco, Aston Martin Lagonda Global Holdings, U.S . Federal Reserve, Thomson Locations: Rio Tinto, London, Rio, Bengaluru

☆ Farage makes fresh allegations against UK's Coutts over account closures
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

Reuters previously reported that Coutts was closing Farage's accounts mainly for commercial reasons, citing a source familiar with the matter. The BBC previously reported Farage had fallen below the financial threshold required to be a customer of the private bank - something Farage said he had had no knowledge of. A Coutts spokesperson told Reuters that its ability to respond to Farage's fresh claims were restricted by obligations to protect client confidentiality. Farage told Reuters the issue "raises very broad questions about our banks and how deeply political they have become." Farage previously said he believed it was because he was deemed a "politically exposed person" (PEP), meaning banks have to apply additional scrutiny to accounts.

Persons: Nigel Farage, Coutts, Farage, Donald Trump, Iain Withers, Sinead Cruise, David Evans Organizations: Brexit Party, NatWest Group, Twitter, Reuters, BBC, Farage, Britain's Daily Telegraph, Thomson Locations: Russia

☆ FTSE 100 edges higher as NatWest, StanChart shares rise
▼ + stars: | 2023-05-22 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Domestic house prices rise in MayUK lowers stake in NatWest, shares climbDechra Pharma down after profit warningUS debt ceiling talks to resume after impasseFTSE 100 0.3%, FTSE 250 flatMay 22 (Reuters) - UK's blue-chip index edged higher on Monday, with NatWest shares rising after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government, although lingering uncertainty over the U.S. debt ceiling impasse weighed on overall mood. The FTSE 100 (.FTSE) rose 0.3%, with bank stocks in the lead. Standard Chartered (STAN.L) rose 2.4% after Bank of America upgraded the stock to "buy" from "neutral". UK-listed stocks have traded in tight bands since late April as investors digested mixed corporate earnings, weakening outlook for commodity-linked stocks and standoff over the U.S. debt ceiling deal. ($1 = 0.7923 pounds)Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Wowed by tech, worried by banks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

That makes investors wary of such provisions at the likes of HSBC (HSBA.L), Lloyds (LLOY.L) and NatWest Group (NWG.L), all of which are due to report earnings in the coming weeks. Across the Atlantic, First Republic Bank's (FRC.N) plunging deposits and tumbling shares are rippling through the U.S. regional banking sector. U.S. recession fears have also resurfaced after consumer confidence hit a nine-month low, alongside some weak earnings. In a week packed with tech sector earnings, the focus moves from artificial intelligence to advertising revenues as Facebook-parent Meta Platforms (META.O) and streaming device maker Roku Inc (ROKU.O) report. Key developments that could influence markets on Wednesday:U.S. durable goods orders, Germany and France consumer confidenceEarnings: Meta Platforms, Boeing, GSK, Deutsche Boerse, Roku IncEditing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Brian Snyder/File PhotoLONDON, March 15 (Reuters) - Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Short sellers had amassed bearish positions worth more than $15.7 billion against European banks by Tuesday, according to S&P Global Market Intelligence. Millennium Management, Citadel, Wellington Management, Capital Fund Management, Odey Asset Management and Marshall Wace declined to comment. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. Its shares were up 18% at 1602 GMT, in a broader European banking index (.SX7P) up 1.4%In the week to Wednesday, some 120 billion euros had been wiped off the value of European bank shares.

Big hedge funds including Marshall Wace and Odey Asset Management added to short positions against Europe's banks, regulatory filings seen by Reuters and data from Breakout Point showed. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. The banks included BAWAG (BAWG.VI), FinecoBank (FBK.MI), Handelsbanken (SHBa.ST), CaixaBank (CABK.MC), NatWest Group (NWG.L) and PKO Bank Polski (PKO.WA). BNP Paribas shares fell by as much as 12% on Wednesday before recovering to show a loss of 9%, while Deutsche Bank shares fell almost 9%. In the week to Wednesday, some 120 billion euros ($126 billion) had been wiped off the value of European bank shares.

☆ Britain to bolster the City after Silicon Valley Bank collapse
▼ + stars: | 2023-03-15 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

[1/2] A person walks over Millennium Bridge amidst early morning fog, as the sun rises beyond the City of London financial district in the background, in London, Britain, February 8, 2023. Following the collapse of its parent company in the United States, Silicon Valley Bank's UK arm was sold to HSBC over the weekend to avoid disrupting its customers in Britain. Hunt said he would make a statement in the autumn on how the UK financial system would be strengthened. City Minister Andrew Griffith has said that an accounting rule for pension funds has become a "performance penalty" which holds back investment in Britain. The financial sector has called for faster implementation of the proposals after Amsterdam overtook London as Europe's biggest share trading centre.

With assets of around 5.5 billion pounds and deposits of around 6.7 billion pounds, SVB UK is a minnow compared to HSBC. The situation was urgent because SVB UK had lost almost half of its deposits in the 48 hours leading up to its rescue, the source said. Officials from the Bank of England and Treasury along with board members from SVB UK were then locked in talks. HSBC also plans to inject 2 billion pounds of liquidity into SVB UK, a spokesperson for HSBC said. Advisory firm Rothschild, which advised SVB UK according to sources, also declined to comment.

[1/2] A notice hangs on the door of Silicon Valley Bank (SVB) located in San Francisco, California, U.S. March 10, 2023. "Silicon Valley Bank cannot be allowed to fail given the vital community it serves," Bank of London co-founder and CEO Anthony Watson said. But an executive at a major UK bank said it was unlikely a high street lender would buy SVB UK because its credit products would not be a good fit for a mainstream bank. EXISTENTIAL THREATMore than 250 UK tech firm executives signed a letter addressed to Hunt on Saturday calling for government intervention and warned of an "existential threat" to the UK tech sector, a copy seen by Reuters shows. Sunak has said he wants to turn Britain into the "next Silicon Valley".

☆ UK races to minimise SVB fallout amid reports of potential buyers
▼ + stars: | 2023-03-12 | by ( Andrew Macaskill | ) www.reuters.com time to read: +6 min

[1/2] A notice hangs on the door of Silicon Valley Bank (SVB) located in San Francisco, California, U.S. March 10, 2023. SoftBank-owned lender OakNorth Bank is weighing a bid to buy Silicon Valley Bank UK Ltd, a person with knowledge of the talks told Reuters, confirming a Sky News report. EXISTENTIAL THREATMore than 250 UK tech firm executives signed a letter addressed to Hunt on Saturday calling for government intervention and warned of an "existential threat" to the UK tech sector, a copy seen by Reuters shows. Hunt reiterated comments by the BoE that overall, Silicon Valley Bank had a limited presence in Britain and did not perform functions critical to the financial system. Sunak has said he wants to turn Britain into the "next Silicon Valley".

UK banks (.FTNMX301010) dropped to an eight-week low, spooked by a brutal rout in U.S. bank SVB Financial (SIVB.O) following a share sale. The FTSE 100 (.FTSE) slipped 1.9% to a five week low, while the more domestically focused mid-cap index (.FTMC) gave up 2.1% to hit a two-month low. The FTSE 100 is set to the end the week down about 2.8% in what could be its worst week since September, as worries around hawkish central banks sapped risk appetite. Next week, investors will be watching for UK Chancellor Jeremy Hunt's spring budget. Reporting by Susan Mathew in Bengaluru; Editing by Savio D'Souza and Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

LONDON, March 2 (Reuters) - Britain's Nationwide Building Society has restricted customers' ability to buy cryptocurrencies, the lender said in an email to its members on Thursday. Nationwide said it will not allow payments to crypto exchanges using credit cards and will limit adult current accounts to 5,000 pounds ($5,995) of purchases per day. The building society said the move was in response to regulatory concern over the risks of buying digital currencies. Cryptocurrency prices surged in 2020 and 2021 before sharp declines last year as rising interest rates prompted investors to ditch riskier assets. In November, as part of measures to protect customers from scams, Santander (SAN.MC) introduced limits on the amount customers could transfer to cryptocurrency exchanges and said it would soon block UK customers from sending any real-time payments to cryptocurrency exchanges.

☆ These high-dividend stocks are expected to rally, with analysts giving one 60% upside
▼ + stars: | 2023-02-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

High-yielding stocks are back in the spotlight as volatility persists, inflation remains hot and Treasury yields continue to rise. Canadian firm Pembina Pipeline Corporation , as well as EOG Resources, offered high dividend yields at nearly 7% and almost 6% respectively. Both are also expected to have high earnings growth ahead, with forecasts of 146% for Pembina and 62% for EOG. Analysts also give EOG average potential upside of nearly 32%. Hong Kong-listed shipping logistics firm SITC International Holdings also had a notably high dividend yield of 8.5% and nearly 60% potential upside.

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