3 Min Read
LISBON, May 4 (Reuters) - Portugal’s state-backed Resolution Fund wants to negotiate a large loan from a group of banks to shore up the capital of lender Novo Banco, which was carved out of the collapsed Banco Espirito Santo (BES).
Such a cash injection is politically contentious, however, partly because loss-making Novo Banco is 75%-owned by U.S. private equity firm Lone Star. The remaining 25% is owned by the Resolution Fund.
“The possibility of a loan from a syndicate of banks of the national banking system is on the table,” Bank of Portugal Governor Mario Centeno told a news conference late on Monday.
By Reuters Staff
1 Min Read
LONDON, May 4 (Reuters) - British mortgage lending showed the biggest net increase on record in March, Bank of England data showed on Tuesday.
Mortgage borrowing rose by a net 11.8 billion pounds ($16.4 billion) in March, the strongest since the series began in April 1993, the BoE said.
British lenders approved 82,735 mortgages in March, down by about 5,000 from February, the BoE data also showed.
A Reuters poll of economists had pointed to 92,300 approvals. ($1 = 0.7205 pounds) (Reporting by William Schomberg and David Milliken)
Books A$37 mln impairment benefit vs A$2.2 bln charge in 1H20 Australian bank recovery a qtr ahead vs global peers-Citi Targets A$8 bln cost base by 2024, smaller head office, branches (Updates share movement)
SYDNEY, May 3 (Reuters) - Westpac first-half cash earnings more than tripled from last year’s plunge, helped by money it had previously set aside to cover potential COVID-19 losses, Australia’s second-largest bank said on Monday, sending shares sharply higher.
The Sydney-based lender also said it will close some branches and accelerate its focus to digital banking under a cost-cutting plan unveiled on Monday that targets a 21% reduction in its cost base.