Frankfurt winning race with Paris for Brexit bank moves September 24, 2018 Frankfurt is winning the race to attract the banking jobs moving out of London because of Brexit, with 25 lenders having moved operations there ahead of the UK's departure from the EU, new research published today shows. Paris, which has been aggressively courting the City's financial institutions, has attracted nine moves, while Luxembourg and [...]
Digital bank Monzo reaches a million current account customers September 24, 2018 Digital bank Monzo has reached the million-customer milestone just weeks after it was revealed it will join the ranks of Britain's fintech "unicorns". The millionth customer for the app-based bank signed up over the weekend, Monzo announced today. Some 20,000 new customers sign up for the bank per week, an acceleration even from August, [...]
Revolut to bid for fresh European licence as it reveals losses September 24, 2018 Fintech powerhouse Revolut has revealed its post-Brexit strategy amid the publication of its 2017 financial accounts, which put a heavy spotlight on the banking app’s operational losses. Primarily, a spokesperson for the London startup confirmed to City A.M. it had applied for a second e-money licence in Luxembourg, in addition to its 2017 application for a [...]
Bank Pekao backs London as post-Brexit gateway to Poland September 24, 2018 The boss of Poland’s biggest corporate and investment bank has backed the City to remain Europe’s top financial hub as he targets increased investor interest in the growing Polish economy. Michal Krupinski, Bank Pekao’s chief executive, will today unveil a new London office to serve the large British investor community looking for Polish assets, as [...]
PPI scandal turning ‘portions of Britain into fraudsters’, Barclays boss claims September 23, 2018 The PPI scandal has turned “portions of Britain” into fraudsters, Barclays chairman John McFarlane has claimed. McFarlane, said it was “inconceivable” that all the payment protection insurance mis-selling claims that had helped fuel a “flat-screen television” buying spree were genuine. He also accused the government of being complicit in the weakening of the banks by [...]
Danske Bank investigation reaches UK shores ‘as crime agency opens probe’ September 21, 2018 The National Crime Agency (NCA) has launched an investigation into potential ties between a UK organisation and one of the world’s biggest ever money laundering scandals, it is reported. The probe, which is centred around Denmark’s biggest lender Danske Bank, is likely to focus on the role played by customers suspected of illicit activities using [...]
Danske Bank investigation reaches UK shores ‘as crime agency opens probe’ September 21, 2018 The National Crime Agency (NCA) has launched an investigation into potential ties between a UK organisation and one of the world’s biggest ever money laundering scandals, it is reported. The probe, which is centred around Denmark’s biggest lender Danske Bank, is likely to focus on the role played by customers suspected of illicit activities using [...]
RBS, Natwest and Ulster outages: Digital banking comes back online September 21, 2018 Royal Bank of Scotland (RBS), Ulster Bank and Natwest's online banking services were down for around three hours this morning, leaving millions of users without digital access to their accounts. Natwest’s mobile app couldn't establish a connection, and referred users to an online status page, which failed to open, a problem shared by Ulster and [...]
RBS, Natwest and Ulster outages: Digital banking comes back online September 21, 2018 Royal Bank of Scotland (RBS), Ulster Bank and Natwest's online banking services were down for around three hours this morning, leaving millions of users without digital access to their accounts. Natwest’s mobile app couldn't establish a connection, and referred users to an online status page, which failed to open, a problem shared by Ulster and [...]
RBS in talks with the Bank of England over share buyback plans September 20, 2018 The Royal Bank of Scotland has started discussions with the Bank of England over a special share buyback in a bid to speed up the privatisation process. Speaking at a conference in New York RBS deputy chief financial officer Katie Murray confirmed that the bank is in talks with the Prudential Regulation Authority (PRA) over the details of [...]