LONDON: British bank Shawbrook reported a jump in first-quarter underlying pretax profit on Thursday, and said it would expand customer loan balances to 8.5 billion pounds ($12.34 billion) by 2020.The lender, which was founded in 2011 and went public last year, said underlying pretax profit rose 20 percent to 22.3 million pounds for the quarter ended March 31.Net loans and advances grew 6 percent to 3.57 billion pounds.
Shawbrook lowered its full-year net interest margin guidance slightly to 5.5 percent.
The bank has been aiming to maintain net interest margin at about 6 percent in the medium term, according to the target set during the initial public offering.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...