RBS, Barclays gather information on SME credit worthiness

 Print E-mail
Economy
Written by Roberta Murray   
Monday, 06 September 2010

Morning Business News, Monday 6 September: RBS, Barclays, Banco Santander, Metro Bank.

 

RBS (LON:RBS) and Barclays (LON:BARC) have reportedly taken on pH, a subsidiary of Experian, the research company, to analyse the credit profiles of small businesses that are being refused funding.

The Telegraph reports that Barclays and RBS are amongst six UK banks that have commissioned a report to profile the creditworthiness of their business customers in a bid to break the deadlock with the Government over lending levels.

The data, which will be gathered over the next month and presented to the Treasury in October, will be used by the banks in an attempt to convince the Government not to intervene to force them to lend more to businesses.

Barclays is lower on the FTSE 100 this morning while RBS is higher by 0.78%.

Banco Santander in recruitment drive


Banco Santander (NYSE:STD), the Spanish banking group, is set to launch a recruitment drive that could see it hire 6,000 people as it presses ahead with UK expansion.

The bank, which has come under fire for poor customer service, plans to hire 600 people over the coming months to improve performance, the FT reports.

Santander is finalising the purchase of 318 branches from RBS and last week announced 3500 job losses which are reportedly linked to the sale.

Metro Bank cash raising


Metro Bank may raise more capital to accelerate its branch openings in Britain. The new bank created by the American billionaire Vernon Hill could raise £30m or more on top of the £75m it had in the bank when it opened its doors in July, observers believe. The level of interest so far has dwarfed expectations, the Times reports.

Global economy still facing challenges


The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's deputy managing director, John Lipsky, said yesterday.

Mr Lipsky said that delegates at the G20 meeting of deputy finance and central bank chiefs in South Korea "are mainly confident that there is a moderate recovery underway globally", reports the Independent.


 

 
 
Share this article:
Digg It! Digg it!   Post to del.icio.us del.icio.us   Seed in Newsvine Newsvine   Post to reddit Reddit   Facebook  Stumble It! Stumble It!  

Subscribe to our weekly newsletter for top jobs, news, blogs and more

Get the latest senior finance job roles, news, blogs, features, industry moves and opinion delivered directly to your inbox every week. Sign up here .