"While consumers are always advised to shop around for the best deals, it is difficult to avoid the conclusion that our biggest banks are taking advantage of their most loyal customers to increase profits and CEO pay," said Harriett Baldwin, chair of the committee. (Reporting by Iain Withers; editing by Sinead Cruise)
LONDON, March 1 (Reuters) - An influential group of
British lawmakers have questioned whether banks are making
excessive profits without passing the benefit of Bank of England
interest rate rises to savers, in a series of letters to bank
bosses sent on Wednesday.
The Treasury Committee noted profit margins at the biggest
British banks - Lloyds Banking Group , NatWest ,
HSBC and Barclays - increased in 2022 earnings
published last month, while some also bumped up boardroom pay.
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