Coventry Building Society sees profit boost from rate hikes as Co-op Bank merger talks continue February 29, 2024 Higher interest rates have boosted Coventry Building Society's annual profits as the lender continues to negotiate a potential merger with the Co-op Bank.
Profit falls at Yorkshire Building Society but lender has record demand for savings products February 29, 2024 A number of lenders have been the beneficiaries of poor savings rates on offer at the high street banks and Yorkshire Building Society reported that a record 693,000 savings accounts were opened last year, up from 537,000 in 2022.
Skipton chief: It’s ‘dangerous’ to wait for the government to help build more houses February 29, 2024 Skipton chief Stuart Haire tells City A.M. how he plans to make the country sit up and take note of the building society.
UK must embrace open finance to be a global fintech leader and boost IPOs, industry chief says February 29, 2024 Open finance is key to making the UK a global leader in fintech and unlocking more public listings, the boss of a government-backed industry hub has told City A.M., as the sector struggles to lure investors.
City minister: Debanking trend is a ‘great business opportunity’ for newer lenders February 28, 2024 City minister Bim Afolami has told MPs that big banks closing high numbers of small firms' accounts offers "great business opportunities" for newer lenders with different risk appetites.
Klarna posts fifth straight annual loss as buy-now pay-later giant eyes up New York listing February 28, 2024 Buy-now pay-later giant Klarna has reported its fifth consecutive annual loss as the fintech gears up for a blockbuster IPO.
Profit slips at the Co-op Bank as Coventry Building Society continues to circle February 28, 2024 Despite seeing an increase in net interest income, thanks to higher interest rates, the bank saw costs increase significantly which dented its bottom line.
Tax cuts don’t ‘cost’ a thing – it’s not the Treasury’s money to begin with February 28, 2024 Tax cuts leave more money with the people that earned it and the Treasury has no God-given right to keep it
More than 140,000 small business accounts were ‘debanked’ last year February 27, 2024 Big banks closed just under 142,000 small business accounts last year, according to the Treasury watchdog, as MPs scrutinise lenders' approaches to "debanking".
FCA urges Brits to ‘make money work harder’ by shopping around for savings rates February 27, 2024 Banks came under intense pressure from politicians and regulators last year for failing to pass through the Bank of England's rate hikes into savings products.