S&P acts on U.K. banks

S&P said it revised its outlooks on Lloyds Banking Group plc, NatWest Group plc, Santander UK Group Holdings plc and Virgin Money UK plc to stable from negative.

“We revised our outlooks on four U.K. banks to stable from negative because we believe that their asset quality will remain manageable and their capitalization will continue to be robust,” S&P said in a press release.

The agency also revised its outlook on Barclays plc, citing its stable management and strategy more effectively realizing the potential of its business model, and Nationwide Building Society to positive from stable on its better profitability, supported by an improved net interest margin and resurgent housing market activity.

“We believe that the U.K. is experiencing a relatively strong economic rebound in 2021, and we now assume GDP growth of 7.0%. This recovery is in the context of an exceptionally sharp GDP decline of 9.8% in 2020, but we are increasingly confident that the U.K. will recover its lost economic output fairly swiftly,” the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.