Shawbrook shares jump in biggest City IPO debut of the year October 30, 2025 Shares in specialist lender Shawbrook soared in early trading after the firm made its IPO debut in the City. The bank’s stock was up over six per cent in early trading to 393.43p. Shawbrook kicked off its London Stock Exchange float targeting a valuation just shy of £2bn with a listing price of 370p. “We [...]
Standard Chartered shares hit 12-year high after income upgrade October 30, 2025 Banking giant Standard Chartered has upgraded its income target for the full-year after its booming wealth business powered profit higher. The FTSE 100 lender posted a pre-tax profit of $1.8bn (£1.36bn) in the three months to September, ahead of the $1.5bn pencilled in by analysts. Shares in the bank jumped to a 12-year high after [...]
Barclays and Santander top highest customer exodus after outages October 30, 2025 Barclays and Santander recorded the highest net losses of current account switches in the second quarter of the year after outages disrupted thousands of customers’ online banking. Over 22,000 users switched from Barclays in the three months to June 2025, with just under 4,000 joining, marking a net loss of over 18,000. Santander recorded a [...]
Complaints to banks ombudsman fall after Treasury clamp down October 29, 2025 Complaints to the banking ombudsman have tumbled in the three months to September 2025 after the Treasury launched its own clamp down. The Financial Ombudsman Service (FOS) recorded 46,300 complaints in the quarter, down from 73,700 in the same period last year. In the three months to June, 68,000 complaints were recorded. The fall followed [...]
Santander UK boss: Government must overrule FCA on motor finance October 29, 2025 Santander UK has said it will delay its third-quarter earnings report due to “uncertainty” following the financial watchdog’s motor finance redress scheme. The Spanish banking giant was due to publish its financial report for the third-quarter on Wednesday but has put it on hold “pending greater clarity regarding the [Financial Conduct Authority]’s proposals”. The bank’s [...]
HSBC shares rise as Georges Elhedery’s pivot East beats the noise October 28, 2025 HSBC’s pass through the third quarter was almost identical to the second. Despite another hefty hit to the firm’s bottom line, chief executive Georges Elhedery has quietly and effectively pushed ahead with his bold overhaul of the group. For the three months to September 30, HSBC took a 14 per cent profit beat falling to [...]
Barclays snaps up US personal loans fintech for $800m October 28, 2025 Barclays is set to take control of a US personal loans fintech in a deal that the lending giant hopes will beef up its loans package for its investment bank clients. The FTSE 100 bank said it would use consumer loan platform Best Egg as an “origination engine” after snapping the firm up for $800m [...]
HSBC: FTSE 100 lender’s profit slumps as legal costs jump October 28, 2025 Europe’s biggest lender, HSBC reported better-than-expected revenue in the third quarter, but recorded a double digit decline in profit as it set aside over a billion dollars following a fresh ruling on the Bernie Madoff fraud scheme. HSBC’s pre-tax profit fell to $7.3bn (£5.4bn) in the three months to September 30, a fall of nearly [...]
FTSE 100 live: HSBC takes profit hit, fresh food inflation rises October 28, 2025 Good morning from the City AM liveblog team. It may have been more than 15 years since he was convicted and four years since he died, but legendary fraudster Bernie Madoff is still making headlines. Yesterday it was the turn of British banking giant HSBC to unveil the scale of its exposure to business connected [...]
Reeves’ National Wealth Fund faces ‘very challenging’ growth goal October 28, 2025 Rachel Reeves faces an uphill battle as she looks to use her National Wealth Fund to ramp up the government’s economic growth mission, top MPs have warned. The Chancellor has touted the new unit as a growth-focused initiative that would unlock over £70bn in private investment. But in a new Treasury Select Committee report, the group’s [...]