U.K. Banks to Satisfy BOE and Avoid Share Sales on Earnings
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Britain’s biggest banks said asset sales and funds generated from internal growth mean they won’t need to sell shares to meet the Bank of England’s 13.4 billion pounds ($21 billion) in capital requirements announced today.
Barclays Plc, Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc all said sales of businesses and packages of loans and retained profits mean they won’t need to raise money from equity investors. HSBC Holdings Plc, Standard Chartered Plc and Banco Santander SA’s British division were told no extra capital was required from them by the central bank today.