Secure Trust Bank: Deposits hit record high as loan book swells August 14, 2025 Specialist lender Secure Trust Bank posted a bumper first half of the year after customer deposits smashed a record high and lending balances swelled. The firm recorded a 8.2 per cent increase in deposits to £3.5bn whilst net landing balances grew 6.1 per cent to £3.8bn. This helped drive an over 30 per cent jump [...]
Zilch hikes provisions amid ‘record year’ for customer growth August 13, 2025 UK fintech Zilch raised its provisions for losses in the last year as demand for buy now, pay later services ballooned. The London-headquartered firm raised provisions for credit losses – funds set aside to cover estimated losses from failed repayments – to £27.4m – a 116 per cent jump from £12.7m the year prior. Credit [...]
A Rachel Reeves and Andrew Bailey clash risks Britain’s stablecoin dream August 13, 2025 A Rachel Reeves and Bank of England clash risks derailing Britain’s stablecoin dream as the country plays catchup in the over £200bn market. The Chancellor referenced plans to drive forward “developments in blockchain technology including… stablecoin” in her 2025 Mansion House speech. But Reeves faces an obstacle to push her plans in the form of [...]
Demand for City lawyers surges amid motor finance scandal August 13, 2025 Lawyers are facing questions after the Supreme Court's motor finance ruling left the door open for consumer claims
S&U shares jump as bank predicts profit ‘resurgence’ August 12, 2025 Shares in specialist lender S&U rallied as markets opened on Tuesday after the bank said its “resurgence in profitability” had begun to materialise. The London-listed firm’s stock was up over three per cent in early trading to 1,940. The jump came after the lender provided an upbeat trading update, anticipating building momentum for the second [...]
Motor finance: Lords sound alarm on FCA’s redress scheme August 8, 2025 The House of Lords’ Financial Services Regulation Committee has sounded the alarm on “market uncertainty” around the UK financial watchdog’s upcoming motor finance redress scheme. In a letter addressed to the Financial Conduct Authority’s chief executive Nikhil Rathi, the committee “considers it of importance” to receive further insight into the forthcoming scheme. The City watchdog [...]
Companies cracking down on investment bank leaks August 8, 2025 Big companies are putting investment banks under pressure to cut back on the number of advisers working on UK takeover deals, as concerns about leaks grows. Several clients have asked banks to review the number of employees that have to be informed about live transactions in recent weeks. This stemmed from rising concerns among regulators [...]
FOS complaints tumbled ahead of motor finance ruling August 7, 2025 Complaints to the Financial Ombudsman Service (FOS) fell to their lowest in more than a year ahead of the motor finance ruling. The FOS received 68,000 new cases in April to June, down from 74,600 complaints in the same period of 2024. Motor finance complaints remained the highest grievance but dropped to 21,500 cases from [...]
Revolut drafts in EY amid banking licence push August 7, 2025 Revolut has tapped accountancy giant EY to replace BDO as its auditor as the firm pushes to secure its UK banking licence. The UK fintech juggernaut said EY will act as the firm’s auditor for the financial year ending December 2026 after a formal bidding process. This comes as Revolut expects to launch as a [...]
Shawbrook expands loan book ahead of mooted London float August 7, 2025 Specialist lender Shawbrook expanded its loan book in the first half of the year helping profit soar. The bank – which is owned by private equity firm Pollen Street Capital – recorded a 35 per cent jump in profit before tax to £168.6m as its loan book grew 14 per cent to £17bn. Deposits were [...]