UK Banking Results for 2018 – the sector continues to improve but face Brexit headwinds

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UK Banking Results for 2018

It’s that time of year again when the UK’s largest banks release their annual results. Two common themes emerge:

  1. The UK banking sector is very much in the black
  2. The top 5 banks are undertaking preparations for Brexit and its proving costly

Here is a summary of the 2018 results:

Barclays

Annual profits of £1.39bn for 2018 boosted the share price and neutralise activist shareholders seeking to change the strategic direction of the bank.

Barclays Annual Results 2018

HSBC

As Europe’s largest bank, it failed to meet expectations but still produced a whopping $19.9bn in pre-tax profits.

HSBC Annual Results 2018

Lloyds

Profits hit £4.4bn and is the UK’s most profitable bank based on its dividend returns to investors.

Lloyds UK Annual Results 2018

RBS

The government owned bank continues to make progress with pre-tax profits hitting £3.4bn.

RBS annual report 2018

Santander

Whilst key targets were missed, Santander increased mortgage lending and still managed to achieve pre-tax profits of £1.6bn.

Santander UK Annual Results 2018

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