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Banks have been on a tear since rates of interest began to climb and Customary Chartered isn’t any exception. Shares within the London and Hong Kong-listed lender have risen by 80 per cent over the previous yr and 170 per cent since Covid struck.
Sunil Kaushal, co-head of company and funding banking at Customary Chartered, has seized the chance to take earnings. On the finish of February he offered 220,000 shares for £12.64 every — or a complete of £2.78mn.
Different banking executives have adopted swimsuit. Final week, Chirantan Barua, chief govt of Scottish Widows and insurance coverage, pensions and investments at Lloyds, offered 362,761 Lloyds shares for a complete of £268,000.
The banking sector delivered a wonderful efficiency final yr and Customary Chartered’s outcomes revealed good income momentum and price management.
