Challenger banks scout exit routes as giants circle Metro and TSB June 19, 2025 Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]
Brits sound alarm on branch closures as Lloyds and Natwest shutter sites June 9, 2025 Over half of Brits struggle to speak to a real person when they need support, fresh research shows, underscoring the challenge facing banking customers as more top lenders shutter their branches. Research from credit information service CRIF showed six in ten consumers were unable to get the support required due to bank branch closures. This [...]
One in four Brits cling to bank branches as closures soar May 20, 2025 Brits remain keen for in-person banking even as high-street sites shutter, a fresh report from the Financial Conduct Authority has revealed. One in four current account users still opted to use branch services in the year to May 2024 despite their waning availability. The figure marks a steep drop from 63 per cent in 2017, [...]
Exclusive: JP Morgan’s City of London office vandalised May 14, 2025 JP Morgan’s London office was left in ruin on Wednesday morning after a brutal act of vandalism. Victoria Enbankment staff were met with smashed windows and an assault of red paint across building walls upon reaching their office. Security had cordoned off all entrances to the bank, with staff exiting through guarded side doors. JP [...]
Post Office extends banks’ cash deal as MPs call for mandated acceptance May 1, 2025 The Post Office has reached a five-year banking deal with lenders and building societies to keep cash services running amid a continued retreat of banks from the high street. This renewed deal follows research commissioned by the company, which found nine in ten people believe it is important to maintain access to cash. The partnership [...]
Santander UK’s provisions surge after branch closure backlash April 30, 2025 Santander UK was struck with a surge in provisions in its first-quarter report as backlash mounted to its branch closure operation. The Spanish-headquartered lender’s provisions for liabilities and charges rose 69 per cent to £140m. The firm said £42m of this was driven by “charges relating to changes to our branch network”. This comes as [...]
Santander to shut 95 branches – putting 750 jobs at risk March 19, 2025 Santander announced a flurry of branch closures on Wednesday, which will place up to 750 employees at risk of redundancy. The bank, which is one of the UK’s most prominent mortgage lenders, will close 95 of its 444 branches as part of a structural overhaul that will begin in June 2025. Its updated branches network [...]
Pay for Lloyds Bank’s top bosses jumps to £5.6m February 28, 2025 Lloyds Bank’s top executives have received a bumper windfall despite the lender’s rocky results and mass closure of high-street branches. In its annual report published on Thursday, the bank said its top two bosses would receive nearly £2m in bonuses in 2024 in addition to their regular payouts. Chief executive Charlie Nunn will receive a [...]
Over 100 Lloyds, Halifax and Bank of Scotland branches to close January 29, 2025 More than 100 Lloyds, Halifax and Bank of Scotland high street branches are to close, it has been announced. Lloyds Banking Group has confirmed it will shut 136 more high street branches as it accelerates plans to cut costs and digitise. It will close 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between [...]
New access to cash rules kick in for UK banks and building societies September 18, 2024 New rules from the UK's financial regulator to ensure access to cash have come into force, handing new powers to local communities and placing stricter requirements on banks looking to close branches.