British Business Bank posts second straight loss as tech valuations struggle August 8, 2024 State-owned lender the British Business Bank has recorded a second straight annual loss as a decline in start-up valuations weighed on its financial performance.
Shawbrook: Underlying profit dips as challenger bank’s margins narrow August 8, 2024 Challenger bank Shawbrook has reported a dip in underlying profit for the first half of 2024 as looming interest rate cuts from the Bank of England narrowed its lending margins.
GB Bank: Property finance specialist moves headquarters to London amid rapid expansion August 7, 2024 Property finance specialist GB Bank is moving its headquarters from Middlesborough to London in a bid to grow its presence in the capital and South East.
Exclusive: Tories spent £10m exploring scrapped Natwest retail offer August 7, 2024 The Conservative government spent around £10m exploring a now-scrapped plan to sell part of its stake in Natwest to retail investors, with the bank footing most of the bill, City A.M. can reveal.
UK fintech investment almost triples in first half of 2024 as sector outperforms Europe August 6, 2024 Investment in the UK's fintech sector almost tripled in the first half of 2024, new data shows, as a slew of major deals helped the country retain its title as the centre of European fintech funding.
Biggest UK lenders including Natwest, Lloyds and Nationwide could fail safely in a crisis, Bank of England says August 6, 2024 The Bank of England has said any major UK lender could be safely wound down in a crisis without causing disruption to banking services or forcing a taxpayer bailout.
Principality Building Society’s profit nearly halves as lower rates offset mortgage boost August 6, 2024 Principality Building Society, the largest mutual lender in Wales, has seen its profit nearly cut in half as mortgage price wars and looming interest rate cuts dragged on its lending margins.
Lloyds, Barclays and Natwest: FTSE 100 bank shares slide on fears of US recession August 5, 2024 The UK's biggest banks were among FTSE 100 stocks hit by a global sell-off on Monday as investors were spooked by the prospect of a US recession.
Societe Generale offloads UK and Swiss private banking units in latest sales August 5, 2024 French bank Société Générale has struck a deal to sell its UK and Swiss wealth management businesses to Geneva-based Union Bancaire Privée for €900m (£771m) as part of efforts to offload less profitable divisions.
Is the high street party over for Metro Bank? August 4, 2024 The boss of Metro Bank has said it will begin to shift its focus away from the high street as the lender looks to ramp up its business banking efforts.