Bloomberg Westpac Banking Corp shares dropped more than 5% in Sydney trading after delivering a smaller share buyback than many had expected and amid concern margins remain under pressure. The lender unveiled a record share buyback of up to A$3.5 billion ($2.6 billion), while cash earnings of A$5.35 billion fell short of analyst expectations of A$5.42 billion in the year …

Bloomberg European lenders are boosting shareholder payouts a month after pandemic-related restrictions expired, with more than $5 billion in buybacks. Spain’s Banco Bilbao Vizcaya Argentaria SA said it obtained regulatory approval to repurchase 3.5 billion euros ($4.1 billion) of shares. BNP Paribas SA will start repurchasing 900 million euros of stock next month. In total, the biggest banks in the …

Bloomberg UK high street banks start raising mortgage costs ahead of the Bank of England’s interest-rate decision next week amid signs of resurgent inflation. Barclays Plc is increasing a 2-year fixed rate by 0.35 percentage point, which follows similar moves by lenders including HSBC Holdings Plc, NatWest Plc and Lloyds Banking Group Plc. The increase in borrowing costs threatens a …