Latest news with #DouglasGrant
Daily Mirror
02-07-2025
- Business
- Daily Mirror
Santander to buy rival bank TSB for £2.65billion - what it means for you
Once completed, the combined bank will have a total of nearly 28 million customers and will be the third largest UK bank in terms of personal current account deposits Santander has agreed to buy banking rival TSB for £2.65billion - but what does this mean for customers? The deal was announced yesterday and sparks fears that TSB branches could disappear from the high street. Once completed, the combined bank will have a total of nearly 28 million customers and will be the third largest UK bank in terms of personal current account deposits, behind Lloyds and NatWest. Sabadell, the Spanish owner of TSB, confirmed last month it was considering a sale of the UK business. Barclays had also bid for TSB. TSB was owned by Lloyds Banking Group up until 2013, when Lloyds TSB underwent a demerger to separate the two banks. Sabadell then bought TSB for £1.7billion in 2015. What does this mean for TSB customers? Santander said it 'intends to integrate TSB in the Santander Group' as part of the deal, which could mean the TSB name will disappear from the high street in the future. However, no concrete details have been announced yet. This means it is business as normal for both TSB and Santander customers for now. In a presentation to analysts, Santander hinted at future branch closures and said it plans a 'rationalisation' of the overall branch network and structure, with aims to look at 'overlaps' involving properties. But again, nothing will change for customers or branches immediately. The deal needs to be approved by shareholders first and, if given the green light, is expected to conclude in the first three months of 2026. TSB has around 175 physical high street banks across the UK, while rival Santander has 349 branches. Douglas Grant, Group CEO of Manx Financial Group, said: "While it will undoubtedly strengthen Santander's UK presence, endorse the wider market, and deliver cost synergies, these are likely to involve significant branch closures, something the regulator will scrutinise closely.' What does TSB say? Marc Armengol, TSB chief executive, said: 'TSB is a truly special bank, run by a first-class team that deliver trusted service and support for customers, day in and day out. 'Today's announcement represents the next exciting chapter for this successful business, as part of Santander, a highly regarded banking group. I believe this will prove to be an excellent fit for our loyal customers.' What does Santander say? Mike Regnier, CEO of Santander UK, said: "This is an excellent deal for customers combining two strong and complementary banks, creating one of the most substantial banks in the UK and materially enhancing the competitiveness of the industry. 'At Santander UK we have momentum in our strategy to become the best bank for customers in the UK by investing in technology and service and improving our processes and efficiency. "This deal accelerates our transformation allowing us to enhance our customer proposition and invest more in innovative products and our digital offering, supported by the human touch service so many appreciate, not least in our new branch formats and enhancements across the country. 'We are fully committed to ensuring a seamless integration, by leveraging our market leading technology and significant experience. "Maintaining the highest levels of service for customers across both banks will be a key priority and we will support all colleagues through the transition, as we invest in building a stronger bank for the future.'
Reuters
30-04-2025
- Business
- Reuters
Europe's major banks signal caution as ominous outlook tempers profit wins
LONDON, April 30 (Reuters) - Big European lenders are retaining ambitious performance targets after bumper first-quarter profits this week, but beyond the upbeat headline numbers, bank bosses are contemplating a welter of threats to their future earnings prospects. A global trade war unleashed by U.S. tariffs, the highest in a century, has prompted some economists to raise the odds on recession, with about 40 companies worldwide pulling or lowering their forward guidance in the first two weeks of the first-quarter earnings season, a Reuters analysis showed. With only a handful of data points tracking the early impact of U.S. President Donald Trump's tariff plan, most banks have held firm to shareholder payouts and profitability objectives but customers are already showing caution and provisions against bad loans are making a comeback. "While it's too early for lenders to make strategic shifts, the rise in bad loans is a clear warning sign," said Douglas Grant, CEO of financial services company Manx Financial Group. Grant said slowing GDP growth, rising wage costs, and geopolitical instability were already pushing small businesses to cut investment, scale back growth plans and preserve cash. European banks have enjoyed a run of record profits and soaring share prices for the past two years, and investors have quickly pushed their shares back towards multi-year highs after a dramatic dip in early April. Deutsche Bank ( opens new tab produced a 39% rise in first-quarter profit on Tuesday after its investment bank's bond and currency trading revenue surged. But the results included a hit from a large single-loan writedown and provisions for the possible impact of tariffs on clients. Britain's Barclays (BARC.L), opens new tab on Wednesday also highlighted intense financial market activity as a driver of higher investment banking income. At UBS (UBSG.S), opens new tab, trading revenue increased 32% to $2.5 billion in the three months to end-March. 'UNPREDICTABLE' Several banks surpassed analyst expectations in the first three months of the year but future customer appetite for risk is becoming harder to read. "There was some activity in response to the big market catalyst that we saw at the very beginning of April, but there is more and more uncertainty getting priced in," said UBS Chief Financial Officer Todd Tuckner. CEO Sergio Ermotti said the economic outlook was "particularly unpredictable", with corporate dealmaking on hold, although not yet cancelled. Although also beating analyst expectations, HSBC (HSBA.L), opens new tab on Tuesday raised the spectre of lower loan demand and an erosion in credit quality due to the broader tariff fallout. Barclays CEO C.S. Venkatakrishnan struck a similarly sober tone. "...We have to protect ourselves, as we always do with active risk management," Venkat told reporters. "We have long established programmes to transfer and hedge with, and we will continue to do so as warranted by this environment." DOMESTIC LENDING With global trade uncertainty likely to dampen returns from trade finance and lending to multinational corporate customers, some banks are betting on resilient domestic consumer lending businesses to help weather any downturn. Spain's Santander ( opens new tab said profit at its retail business, and its corporate and investment banking division, rose 24% and 13% respectively, offsetting weaknesses in Mexico and Brazil. In France, retail banking and equities trading boosted Societe Generale ( opens new tab. The CEO of BNP Paribas said last week that the bank was preparing to capitalise on opportunities arising from a slowdown such as M&A and restructuring activities as well as Europe's drive to revive economic growth and increase defence spending.
Yahoo
26-04-2025
- Business
- Yahoo
One Manx Financial Group Insider Raised Stake By 228% In Previous Year
Viewing insider transactions for Manx Financial Group PLC's (LON:MFX ) over the last year, we see that insiders were net buyers. This means that a larger number of shares were purchased by insiders in relation to shares sold. While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. The CEO & Director Douglas Grant made the biggest insider purchase in the last 12 months. That single transaction was for UK£245k worth of shares at a price of UK£0.15 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being UK£0.14). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. Douglas Grant was the only individual insider to buy during the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below! See our latest analysis for Manx Financial Group Manx Financial Group is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Manx Financial Group insiders own 36% of the company, worth about UK£6.1m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. The fact that there have been no Manx Financial Group insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. Insiders do have a stake in Manx Financial Group and their transactions don't cause us concern. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Every company has risks, and we've spotted 3 warning signs for Manx Financial Group you should know about. Of course Manx Financial Group may not be the best stock to buy. So you may wish to see this free collection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
17-02-2025
- Business
- Yahoo
Should You Be Adding Manx Financial Group (LON:MFX) To Your Watchlist Today?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story even if these companies are loss-making. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. Loss-making companies are always racing against time to reach financial sustainability, so investors in these companies may be taking on more risk than they should. In contrast to all that, many investors prefer to focus on companies like Manx Financial Group (LON:MFX), which has not only revenues, but also profits. Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide Manx Financial Group with the means to add long-term value to shareholders. View our latest analysis for Manx Financial Group Generally, companies experiencing growth in earnings per share (EPS) should see similar trends in share price. That means EPS growth is considered a real positive by most successful long-term investors. Recognition must be given to the that Manx Financial Group has grown EPS by 43% per year, over the last three years. While that sort of growth rate isn't sustainable for long, it certainly catches the eye of prospective investors. Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. Not all of Manx Financial Group's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers used in this article might not be the best representation of the underlying business. EBIT margins for Manx Financial Group remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 18% to UK£36m. That's encouraging news for the company! In the chart below, you can see how the company has grown earnings and revenue, over time. To see the actual numbers, click on the chart. Since Manx Financial Group is no giant, with a market capitalisation of UK£17m, you should definitely check its cash and debt before getting too excited about its prospects. It's said that there's no smoke without fire. For investors, insider buying is often the smoke that indicates which stocks could set the market alight. This view is based on the possibility that stock purchases signal bullishness on behalf of the buyer. However, insiders are sometimes wrong, and we don't know the exact thinking behind their acquisitions. The first bit of good news is that no Manx Financial Group insiders reported share sales in the last twelve months. But the important part is that CEO & Director Douglas Grant spent UK£245k buying stock, at an average price of UK£0.15. It seems at least one insider thinks that the company is doing well - and they are backing that view with cash. And the insider buying isn't the only sign of alignment between shareholders and the board, since Manx Financial Group insiders own more than a third of the company. Owning 36% of the company, insiders have plenty riding on the performance of the the share price. Those who are comforted by solid insider ownership like this should be happy, as it implies that those running the business are genuinely motivated to create shareholder value. Although, with Manx Financial Group being valued at UK£17m, this is a small company we're talking about. That means insiders only have UK£6.3m worth of shares, despite the large proportional holding. This isn't an overly large holding but it should still keep the insiders motivated to deliver the best outcomes for shareholders. Manx Financial Group's earnings per share growth have been climbing higher at an appreciable rate. To sweeten the deal, insiders have significant skin in the game with one even acquiring more. This quick rundown suggests that the business may be of good quality, and also at an inflection point, so maybe Manx Financial Group deserves timely attention. We don't want to rain on the parade too much, but we did also find 2 warning signs for Manx Financial Group that you need to be mindful of. Keen growth investors love to see insider activity. Thankfully, Manx Financial Group isn't the only one. You can see a a curated list of British companies which have exhibited consistent growth accompanied by high insider ownership. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
