Saga shares jump after revealing banking tie-up with Natwest June 24, 2025 Shares in over-50s group Saga rose on Tuesday after the firm revealed it was in “final negotiations” with FTSE 100 juggernaut Natwest for a banking partnership. The London-listed company quickly climbed three per cent in early trading to 176.80p. The firm posted the update ahead of their AGM on Tuesday, confirming it had “agreed heads [...]
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 [...]
Natwest rules out TSB takeover June 19, 2025 Natwest has ruled out a takeover of UK high street bank TSB. The FTSE 100 juggernaut was viewed as the “most likely acquirer” by analysts, with the firm hotly anticipated to begin a deal spree after it re-entered private ownership last month. TSB’s Spanish owners, Banco Sabadell, confirmed earlier this week that it had received [...]
Natwest top pick to acquire TSB June 17, 2025 British banking juggernaut Natwest Group has been pegged as the “most likely acquirer” of TSB Bank. Natwest returned to private ownership last month, ending a nearly two-decade-long banking saga and setting the lender up for a deals spree. The bank has purchased over £5bn worth of shares from the Treasury as part of its directed buyback [...]
Barclays calls in McKinsey to find savings in investment arm June 17, 2025 Barclays has tapped global consultancy giant McKinsey in a bid to identify cost-saving areas across its investment banking arm. The FTSE 100 bank is looking to simplify its investment bank, with consultants examining the front office, finance, risk and technology divisions. The consultants will be looking at duplication of work and whether tasks can be [...]
Secure Trust Bank taps Labour donor tied to cronyism scandal as new boss June 17, 2025 An ex-Treasury director who was at the heart of Labour’s “cronyism” scandal has been tapped to take the helm at specialist lender Secure Trust Bank. Ian Corfield, who also spent nearly a decade as chief commercial officer of New Day, will replace retiring chief executive David McReadie. Corfield stepped down from his civil servant role [...]
Banco Sabadell weighing sale of TSB Bank June 17, 2025 Banco Sabadell is mulling the sale of its British high street bank TSB after receiving expressions of interest. The Spanish lender confirmed last night that it has been approached regarding a potential takeover. Sabadell is reportedly working with advisers to examine the sale of the high street lender and has been in contact with potential [...]
Paragon Bank: Stamp duty boost offsets motor finance provision June 4, 2025 Specialist lender Paragon Banking Group bolstered its profit in the first half of the financial year as increased lending managed to offshore a motor finance provision. The FTSE 250 bank’s pre-tax profit surged 26.7 per cent to £149.4m, up from £146.4 in the first half of 2024. This was driven by 4.9 per cent expansion [...]
Monzo: The rockstar fintech setting the City abuzz June 3, 2025 Monzo has dominated City chatter in recent months with its hotly anticipated IPO, and now the fintech unicorn’s latest financial results indicate the talk is only going to get louder. The UK fintech veteran broke another milestone in the last 12 months after topping £1bn in annual revenue. Behind the surge in takings was a [...]
Natwest returns to private ownership May 30, 2025 Natwest has finally re-entered private ownership ending one of British banking’s longest-running sagas. The government sold off its remaining 0.26 per cent stake in the group on Friday marking a full exit from the lender. The Treasury’s share of the FTSE 100 lender dates back to the 2008 financial crisis. Natwest, then under the Royal [...]