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
Reds show Villa spark after week of chaos
AFTER a week of chaos, some calmness. United's winless run has extended to five games, they have two wins in seven, have failed to score in four of their past five league games, are 14th in the table and below Bournemouth in their worst start to a Premier League campaign.
Ten Hag aims to block out all the noise
ERIK ten Hag says the United hierarchy should have told him by now if they intend to sack him.
Doku waits in wings to back up Haaland
FORGET Erling Haaland, City have a new in-form forward.
Pep so happy Blues did not lose their Ed
PEP Guardiola is reaping the benefits of other clubs failing to appreciate the 'real' value of Ederson.
Ex-PM hits out at islands' handover
CEDING the Chagos Islands to Mauritius was \"completely the wrong thing to do\", former prime minister Boris Johnson has warned.
Mosque strike kills 19
AN ISRAELI strike on a mosque in the Gaza Strip early yesterday killed at least 19 people, Palestinian officials said, as Israel intensified its bombardment of northern Gaza and southern Beirut in its widening war on Iran-allied militant groups across the region.
Gray quits role due to 'distraction'
SUE Gray has quit as the Downing Street chief of staff, citing fears she was \"becoming a distraction\" to Sir Keir Starmer's government.
Bird's eye View
EARLY AERIAL PHOTOGRAPHS SHOW LANDMARKS IN 1930S
Transport idea went off the rails
1990S MONORAIL SKYWAY TO THE SHOPS DESIGN THAT NEVER WAS
I was a criminal living in a tent ...now I run a £5m firm
ENTREPRENEUR'S INCREDIBLE RAGS TO RICHES STORY
