UK banks are suffering a torrid time due to the devastating economic impact of the Covid-19 pandemic, yet the Bank of England (BoE) believes they can stomach more pain if necessary.
The five main UK based banks – HSBC, Barclays, Lloyds Bank, NatWest Group and Standard Chartered – reported in their second-quarter earnings loan-loss provisions of around £17bn, which was worse than analysts’ expectations.
