Mr Gill commented it had “long been” part of the understanding between a client, broker and lender that once an application was submitted, the rate and terms were “secured”.
The release explained that at the time Deutsche Bank processed the transaction for the oil company, it “had reason to know” of this designation, given that it “closely coincided” with the date in which it was listed.
Exits at ABN Amro, including its big operation in commodity trade finance, raise questions about ING, as both firms enjoy much better returns in Dutch retail lending.
Looking to the future he continued: “Although significant uncertainties regarding the broader macroeconomic impact and pace of recovery remain, we are cautiously optimistic in our outlook as we start to see signs of momentum returning to certain of
Revenue at Credit Agricole’s ‘Large Customers’ unit, which includes capital markets and corporate finance activities, rose by 16%.
Mainly corporate and retail vulnerability is what has caused trouble for banks in any given recession, Holman said, which also represents the major reason investors sell down the shares in times of crisis.
Lloyds has seen some signs of recovery, particularly among consumers, although low interest rates and a poor economic outlook are expected to weigh on performance for the rest of the year.