Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Metro Bank bosses summoned for meeting with City watchdogs after share price slump October 5, 2023 The bosses of Metro Bank have been called in to emergency meetings with the UK's financial watchdogs after its shares slumped over 20 per cent this morning.
Metro Bank shares tumble on reports it needs £600m to shore up balance sheet October 5, 2023 Metro Bank shares tumbled by more than 20 per cent this morning after reports that the challenger is in talks to raise hundreds of millions of pounds in an effort to shore up its balance sheet. Metro has reportedly hired bankers at Morgan Stanley and Moelis to raise £600m in extra financing, which includes £250m [...]
Six high-street banks including Santander, Barclays, HSBC, NatWest and Lloyds given ‘red’ warning over eco policies October 5, 2023 Six of the UK’s biggest high-street banks have been placed in a “red” warning category by consumer champion Which? over their fossil fuel investments and commitments to tackling climate change. JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were exposed for having too weak green credentials. Just three of the UK’s [...]
Financial services firms optimistic for remainder of the year despite dip in output October 5, 2023 Financial services activity dipped in the third quarter but firms were hopeful that volumes would pick up again in the last quarter of the year.
Metro Bank drafts in investment bankers to explore capital raise October 4, 2023 Metro Bank has reportedly drafted in a top team of investment bankers to explore ways to boost its capital position.
Jane Fraser’s Citigroup overhaul hits London with 250 roles up for review October 4, 2023 Citigroup is putting 250 jobs in the UK under review as boss Jane Fraser kicks off her plans to overhaul the US investment banking giant.
Revolut comes one step closer to UK licence after entering deal with SoftBank October 4, 2023 Fintech Revolut has moved one step closer to securing a UK banking license, as it signed a share deal with its Japanese investor SoftBank to break down a major barrier. The Bank of England ordered Revolut to collapse its six classes of shares into one as a requirement for a full licence, the Financial Times [...]
Former Co-op Bank boss appears in court accused of £196,000 fraud October 4, 2023 Former Co-op Bank boss Paul Flowers has appeared in court accused of a £196,000 fraud by abusing his position.
UK banks’ increasing reliance on short term funds is concerning, experts warn October 3, 2023 Banks in the UK are increasing their reliance on short-term funding, with experts warning that regulators need to prevent financial stability risks from emerging.