UK banks see steady deposits but brace for future Covid-19 fallout
The mid-sized banks that went into the pandemic strong are seeing their share price hold as they make provisions for loan losses
06 May 2020 - 13:09
London — A slew of Britain’s mid-sized banks reported steady deposits and demand in the face of the Covid-19 pandemic on Wednesday, but warned it is too early to assess the long-term damage of the outbreak to their businesses.
Virgin Money swung to a first-half loss after booking a £232m provision for bad loans and likely defaults due to the coronavirus pandemic, but reported a higher than expected capital buffer of 13% that steadied investor nerves...
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