Nationwide Building Society, the U.K.’s largest customer-owned lender, said full-year pretax profit rose 3.4 percent as higher impairments in its property finance business offset growth at its consumer unit.
Irish Public Expenditure Minister Brendan Howlin said the government and leaders of the main labor unions “virtually ended” talks on a revised plan to shave 1 billion euros ($1.3 billion) from public-sector pay by 2015.
A review of asset quality by euro zone’s banking regulators of the region’s banks may show a capital shortfall of 300 billion euros ($386 billion) to 400 billion euros led by France and Germany, according to analysts at Berenberg Bank.
The European Banking Authority approved a plan that will “significantly increase” the number of bankers whose bonuses are capped under European Union rules, accounting firm PricewaterhouseCoopers said.
Lloyds Banking Group Plc advanced in London trading, exceeding the price at which the government says it will break even on its holding after providing a 20 billion- pound ($30.5 billion) rescue almost five years ago.