Banking bosses universally chimed last week that the vaccine rollout and government support such as furlough had made a huge difference to the country’s chances for recovery. They’ve certainly helped the banks’ own prospects, with profits up sharply across the board in the first three months of the year. The increase was driven by a dramatic drop in bad debt provisions compared with last year, when everyone feared that Covid would have a truly horrifying impact on people’s jobs and livelihoods. SponsoredThe swing in provisions has driven another big change — at least at some institutions — in compensation. Yet while most banks are preparing to pay out more this year, one bank is facing more scrutiny than others.

Source: The Times May 04, 2021 16:03 UTC