Simon Taylor and Adam Davis host this week's episode of Fintech Insider Insights and are joined by guests to talk all about the latest earning reports and see how the big banks have fared over the past year.
This week's guests are:
Lianna Brinded, Head of Yahoo Finance UK
Sharon Kimathi, Editor at Fintech Futures and Banking Technology
Earnings reports come out on a quarterly and annual basis, and in today's Insights show, we look at how banks from both sides of the Atlantic performed in 2019. In the UK the cost/income ratios for Barclays, Lloyds and RBS all decreased and many banks were hit hard by fines and payouts for PPI claims. Despite this, all the big banks in the UK made a profit. Across the pond, however, US incumbents suffered as Citi Bank saw a net loss of $132 million and Wells Fargo incurred negative growth in consumer banking operations.
But what are the reasons behind these numbers? Is this the consequence of Brexit? Are we seeing the financial implications of coronavirus? Could it be that challenger banks are impacting big banks' bottom lines?
Tune in to this week's Insights show to find out more as we dig into the good, the bad and the ugly of the big banks' earnings reports.
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Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking.
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Special Guests: Lianna Brinded and Sharon Kimathi.