In the first half of 2024, the bank reported a pretax loss of £33.5m, a stark contrast to the profit of £15.4m recorded in the same period the previous year. This downturn was largely attributed to a decrease in net interest margin, a key indicator of lending profitability, which fell to 1.64 per cent in the first half from 1.85pc in the second half of last year.
Despite these disappointing results, the bank confirmed its projection to return to profitability in the final three months of this year.
Beyond 2024, it anticipates delivering a return on tangible equity, a crucial measure of profitability, in the mid-to-upper single digits in 2025, rising to double digits in 2026 and midteens thereafter.
Bu hikaye Manchester Evening News dergisinin August 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Manchester Evening News dergisinin August 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Ref chiefs taking Coote allegations 'seriously'
A VIDEO appearing to show suspended Premier League referee David Coote snorting white powder is being taken 'very seriously' by the referees' body.
Heskey be next could starlet to make grade
COLE Palmer was sold for £42m and has 52 goals or assists in 58 games since leaving City. And a goal in the European Championship final.
Impressive England too slick for Greece
ENGLAND are on course for promotion back to the Nations League top tier after debutant Curtis Jones' fantastic flick completed an impressive 3-0 victory in Greece as Thomas Tuchel watched from afar.
Coach Borthwick 'under pressure'
RASSIE Erasmus insists Steve Borthwick is a coach under pressure as South Africa look to inflict further misery on England at Allianz Stadium.
Government to ban coal mining projects
NEW coal mining schemes will be banned in the UK, the Government has said.
Former PM Sunak returns as backbencher
FORMER prime minister Rishi Sunak has returned to the Commons as a backbencher.
Starmer hails arrest of small boat suspect
SIR Keir Starmer has said the arrest of a 44-year-old Turkish man suspected of being a supplier of small boats was a \"significant piece of the jigsaw\" in tackling Channel migrant crossings but \"I'm not pretending it's the silver bullet\".
Charles marks birthday with food hub visit
THE King has celebrated his 76th birthday by visiting a food distribution hub as part of his drive to support charities feeding the nation.
Republicans gain control of House to secure power
THE Republican Party has won enough seats to control the US House, completing the party's sweep into power and securing their hold on the American government alongside president-elect Donald Trump.
My beautiful light in the dark
Joy of mother told she had aggressive cancer while pregnant
