UK fintech investment hits four-year low February 18, 2025 Fintech investment in the UK had another sluggish year with new data showing it sunk to a four-year low in 2024. KPMG’s bi-annual fintech report showed UK fintech investment fell by 27 per cent to £7.9bn last year, down from £10.1bn in 2023. Despite this, the UK managed to scoop up more funding than France, [...]
Lloyds Bank urged to release full HBOS review February 17, 2025 Lloyds Banking Group has been told it must publish a “full copy” of the long-delayed report into the mishandling of the HBOS Reading scandal. Dame Meg Hillier, who chairs the Treasury Committee, has backed campaigners’ calls for Lloyds to be transparent in private correspondence obtained by The Times. This follows Lloyds’ pledge to “fulfil any [...]
Borrowing boom to boost banks February 17, 2025 Banks have been given a boost after new data predicted borrowing growth would rise throughout 2025. After the Bank of England slashed interest rates three times in the last six months, research from EY Item Club anticipates total UK bank lending will rise to 3.7 per cent this year, up from 2.3 per cent in [...]
HSBC set to unveil bigger profits as cost-cutting overhaul in focus February 16, 2025 HSBC is set to unveil bigger profits as investors prepare for an update on the bank’s cost-cutting overhaul, while earnings for Lloyds will be in focus amid a long-running motor finance probe. Rivals Barclays and NatWest set the tone for the banking sector when they reported stronger earnings this week, despite UK interest rates starting [...]
Nigel Farage exploring private prosecution against Natwest February 14, 2025 The reform leader Nigel Farage is reported to have instructed a legal council to explore private criminal proceedings against Natwest Group over the debanking row
Barclays puts aside £90m for motor finance scandal February 13, 2025 Barclays announced in its annual results it had set aside £90m to cover potential motor finance payouts, amidst ongoing disputes over the misconduct row. This follows the landmark Court of Appeal’s October 2024 judgment, ruling in favour of three consumers and determining that lenders were liable for paying undisclosed commission to car dealers who acted [...]
‘Temporary share price glitch’ sends Barclays shares lower February 13, 2025 Shares in Barclays slumped on Thursday morning after the bank posted its annual results. The Big Four bank reported a £8.1bn pre-tax profit, up 24 per cent from 2024, surpassing analyst expectations of £8.07bn. However, its stock dropped five per cent, as low as 290.34p after the market opened. Still, despite the drop, Peel Hunt [...]
Barclays and Natwest to set tone for Big Four banks in year ahead February 12, 2025 As Britain’s Big Four banks prepare to post annual results, analysts expect “strong” performances, but warned of long-term challenges. Barclays and Natwest will lead the first round of results this week, with the pair reporting on Thursday and Friday respectively. This will be followed by HSBC on February 19 and Lloyds on February 20. The [...]
Natwest: FTSE 100 bank’s share price scoops ten-year high February 11, 2025 Shares in Natwest were touching a ten year high on Tuesday morning, ahead of the bank posting its annual results on Friday. At market open, share price was at 442.70p edging towards the high of 445.85p achieved in February 2015. The lender hit its highest share price since 2015 last month, and continued to rally [...]
Lloyds partners with ‘Duolingo of money’ to target Gen Z February 10, 2025 Lloyds Bank has partnered with fintech platform Doshi to improve young people’s financial literacy through “gamified learning”. The Big Four bank is launching a six month pilot, targeting 18 to 24 year-olds to make financial education “fun and accessible”. Doshi’s founder Daniel Rose told City AM high street banks do not have “much time left” [...]