U.K. lender to accelerate its cost-cutting plan to help offset a likely drop in demand for credit caused by the vote to quit the EU. » Read More
European markets closed sharply lower on Monday, despite paring some losses, amid a staggering selloff in stock markets around the world.
European stock markets faced severe selling on Friday, with major markets crashing in excess of 2.5 percent.
European equities closed largely higher on Monday, despite the Greek stock exchange finishing its first day back after a five-week absence more than 16 percent lower.
European equities closed higher on Friday after a choppy end to trading in July, as investors eyed key earnings and data from the U.S., and slipping commodity prices.
Lloyds Banking Group reported a 15 percent jump in pre-tax profit for the first half of 2015 to £4.4 billion ($6.9 billion) on Friday.
Bank of Ireland, which was bailed out during the country's debt crisis, reported soaring profits for the first half of 2015 as bad debts were reduced.
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The U.K. Chancellor may sell state-owned shares in RBS at a loss as part of plans for an accelerated sale of government holdings in the sector.
The U.K.'s FTSE 100 saw stellar gains on Friday morning with risk assets buoyed by the expected results from the country's parliamentary election.
European shares rallied on Friday after the U.K. election outcome and a U.S. jobs report that showed economic growth but not enough to warrant a rate rise immediately.
U.K. equities closed higher on Friday, with the majority of European markets and many international markets closed for the Labor Day holiday.
Lloyds reported an 11 percent fall in statutory profits to £1.2 bn for the first quarter, after booking a £660 million charge on the sale of TSB.
A euro zone official told CNBC Thursday that reports of an imminent deal between Greece and its lenders over reforms were misplaced.
New British lender TSB Banking Group's first-quarter profit more than doubled from the fourth quarter, boosted by increased lending.
HSBC Chairman Douglas Flint told CNBC that relocating the bank's headquarters back to Hong Kong "would be potentially interesting" on Friday.
British bank TSB said it had agreed to be taken over by Spanish lender Banco Sabadell in a deal which values the business at $2.5 billion.
The U.K.'s Chancellor of the Exchequer George Osborne outlined plans to soften his government's stance on austerity - just in time for May's election.
European equities closed flat on Thursday, as investors reacted to earnings and banking news.
European equities seesawed before finishing higher on Friday, but looked to close out the trading month with gains of over 6 percent.
Lloyds Banking Group will pay a dividend of 0.75p per share to investors, after reporting a better-than-expected rise in profit.