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United Kingdom

CYBG PLC (CYBGC.L)

CYBGC.L on London Stock Exchange

198.00GBp
17 Jul 2019
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Latest Key Developments (Source: Significant Developments)

Cybg Appoints Lucy Dimes Group Business Transformation Officer
Wednesday, 26 Jun 2019 

June 26 (Reuters) - CYBG PLC ::CYBG PLC - LUCY DIMES TO JOIN AS GROUP BUSINESS TRANSFORMATION OFFICER.CYBG PLC - FRASER INGRAM APPOINTED AS GROUP CHIEF OPERATING OFFICER.  Full Article

CYBG Says Has Seen Stabilisation In Mortgage Market
Wednesday, 15 May 2019 

May 15 (Reuters) - CYBG Plc ::CYBG SAYS HAS SEEN STABILISATION IN MORTGAGE MARKET SINCE BREXIT DELAY - CALL.CYBG PLC SAYS IN THE ENDGAME OF PPI, THREE MONTHS TO GO FOR TIME BAR.CYBG PLC SAYS NOT LOOKING FOR MORE DEALS, WILL CONCENTARTE ON INTEGRATING VIRGIN MONEY.  Full Article

CYBG Says H1 Pro Forma Underlying Pretax Profit 5% Lower, Net Interest Income Down 1%
Wednesday, 15 May 2019 

May 15 (Reuters) - Cybg Plc ::H1 PRO FORMA UNDERLYING PROFIT BEFORE TAX OF £286M IS 5% LOWER YEAR ON YEAR.PRO FORMA UNDERLYING PROFIT BEFORE TAX OF £286M IS 5% LOWER YEAR ON YEAR DUE TO ANTICIPATED INCREASE IN IMPAIRMENTS, BUT UP 2% ON H2 18; UNDERLYING RETURN ON TANGIBLE EQUITY (ROTE) WAS 10.4%.NET INTEREST INCOME WAS DOWN 1% ON H1 18 WITH A LOWER NET INTEREST MARGIN (NIM) OF 171BPS DUE TO MORTGAGE PRICING PRESSURES SEEN IN 2018, ALTHOUGH UP 1% ON H2 18 AFTER PRICING STARTED TO STABILISE.HY PRO FORMA PROFIT BEFORE TAX OF £9M IMPACTED BY SIGNIFICANT ACQUISITION AND INTEGRATION COSTS.UNDERLYING COSTS DOWN 3% YEAR ON YEAR TO £480M; UNDERLYING COST TO INCOME RATIO WAS 2%PTS LOWER AT 57%.IMPAIRMENTS INCREASED TO £77M; COST OF RISK OF 21BPS. IN LINE WITH EXPECTATIONS REFLECTING ADOPTION OF IFRS 9, A RETURN TO MORE NORMAL LEVELS IN SME, AS WELL AS GROWTH AND SEASONING OF OUR CREDIT CARD PORTFOLIO.HY NET INTEREST INCOME WAS DOWN 1% ON H1 18.DISCIPLINED MORTGAGE BALANCE GROWTH OF 2.5% TO £60.5BN.SME GROWTH OF 1.1% TO £7.6BN; STRONG NEW BUSINESS DRAWDOWNS OF £1.1BN OFFSET BY HIGHER REDEMPTIONS.UNDERLYING COSTS DOWN 3% YEAR ON YEAR TO £480M; UNDERLYING COST TO INCOME RATIO WAS 2%PTS LOWER AT 57%.CUSTOMER DEPOSITS UP 1.2% TO £61.7BN WITH AN INCREASE IN RELATIONSHIP SAVINGS BALANCES.AT HY END CET1 CAPITAL RATIO OF 14.5%; C.60BPS REDUCTION COMPARED TO 30 SEP 2018.IMPAIRMENTS INCREASED TO £77M; COST OF RISK OF 21BPS IN HY.  Full Article

CYBG Says Virgin Money And Aberdeen Standard Investments Sign Investment, Pensions JV
Wednesday, 9 Jan 2019 

Jan 9 (Reuters) - CYBG PLC ::CYBG- VIRGIN MONEY AND ABERDEEN STANDARD INVESTMENTS SEAL NEW INVESTMENT AND PENSIONS JOINT VENTURE.CYBG PLC - ABERDEEN STANDARD INVESTMENTS TO ACQUIRE 50 PERCENT (LESS ONE SHARE) OF VIRGIN MONEY UNIT TRUST MANAGERS FOR AT LEAST £40 MILLION.CYBG PLC - JV TO OFFER INVESTMENT SOLUTIONS OVER TIME TO CYBG’S SIX MILLION CUSTOMER BASE FOLLOWING ACQUISITION OF VIRGIN MONEY.CYBG PLC - TRANSACTION IS EXPECTED TO COMPLETE IN (CALENDAR) Q2 2019, SUBJECT TO REGULATORY APPROVAL.  Full Article

CYBG Updates On Offer By Co For Virgin Money
Sunday, 14 Oct 2018 

Oct 15 (Reuters) - CYBG PLC ::UPDATES ON OFFER BY CYBG FOR VIRGIN MONEY.VIRGIN MONEY CONFIRMS THAT SCHEME RECORD TIME FOR SCHEME WILL BE 6.00 P.M. ON 12 OCTOBER 2018.  Full Article

CYBG Plc says FY ‍underlying pretax profit up 33 pct to 293 mln pounds​
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - CYBG PLC ::‍FY18 GUIDANCE FOR NIM OF C.220BPS AND UNDERLYING COSTS 650M; MEDIUM-TERM GUIDANCE REITERATED.‍STATUTORY PROFIT INCLUDES IMPACT OF A CONDUCT CHARGE OF £58M PRIMARILY DUE TO HISTORICAL PAYMENT PROTECTION INSURANCE (PPI) MIS-SELLING​.‍HY STABLE NET INTEREST MARGIN OF 2.27%​.‍LENDING MARKET WILL, WE EXPECT, REMAIN COMPETITIVE, ESPECIALLY FOR HOME LOANS​.‍FY CORE SME LENDING UP 6% TO £6.8BN​.I‍T IS LIKELY THAT WE WILL SEE FUTURE PRICE PRESSURE IN MORTGAGE AND UNSECURED PERSONAL LOAN MARKET​.EXPECT TO SEE MODEST PRESSURE ON NET INTEREST MARGIN AND OUR NIM GUIDANCE FOR FY2018 IS 220BPS​.FY ‍UNDERLYING PROFIT BEFORE TAX UP 33% TO £293M​.‍FY CET1 RATIO OF 12.4%​.‍RECOMMENDING PAYMENT OF AN INAUGURAL DIVIDEND OF 1P PER SHARE​.  Full Article

CYBG bumps up provisions over legacy conduct costs
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - CYBG PLC ::‍NAB HAS RECOGNISED A CHARGE IN CONNECTION WITH CLAIMS THAT HAVE BEEN, OR ARE EXPECTED TO BE, MADE BY CYBG​.CLAIMS ‍IN CONNECTION WITH CONDUCT INDEMNITY DEED BETWEEN CYBG AND NAB​.‍CYBG WILL INCREASE ITS PROVISIONS FOR LEGACY CONDUCT COSTS AS AT 30 SEPTEMBER 2017 BY £403 MILLION​.‍UNDER TERMS OF CONDUCT INDEMNITY DEED CYBG IS REQUIRED TO FUND 9.7 PCT OF THIS PROVISION INCREASE​.‍CYBG WILL RECOGNISE A FURTHER CHARGE OF £39 MILLION (PRE-TAX) IN ITS INCOME STATEMENT FOR TWELVE MONTH PERIOD ENDED 30 SEPTEMBER 2017​.‍THIS WILL IMPACT CYBG'S CET1 CAPITAL RATIO BY APPROXIMATELY 20 BPS AS AT 30 SEPTEMBER 2017​.  Full Article

CYBG says on track to deliver guidance for FY2017
Tuesday, 1 Aug 2017 

Aug 1 (Reuters) - Cybg Plc :Trading in three months to 30 june 2017 has been in line with its expectations.Solid mortgage growth of 5.8% (annualised) for nine months to 30 june.Nim increased to 2.29% (annualised) in nine months to 30 june.Management now expect underlying operating costs for full year to be below £680 million.Cybg plc - remain on track to deliver guidance for fy2017.Cet1 ratio of 12.4% at 30 june compared to 12.5% at 31 march.Cybg plc - now expect underlying operating expenses for fy17 to be below £680 million.Cybg plc - continue to target a modest inaugural dividend with respect to fy17.Unsecured personal lending balances grew 3.1% (annualised) in nine months to june to £1.2 billion.Continue to target a modest inaugural dividend with respect to fy17.  Full Article

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UK banks say business investment slowing further ahead of Brexit

LONDON Britain's major banks have seen a growing number of business customers delay decisions on investments and borrowing in recent weeks, as the probability of a disorderly exit from the European Union inches higher.