Arbuthnot: Historic bank leans on wealth unit as rate cut hits lending income October 17, 2024 Arbuthnot Banking Group reported growth in its wealth management arm as the historic lender looks to weather a fall in interest rates.
TSB Bank handed huge fine for failing customers in arrears October 10, 2024 The financial watchdog has fined bank TSB almost £11m over its treatment of customers, but the penalty could have been even worse. TSB Bank will have to pay £10,910,500 after the Financial Conduct Authority (FCA) found it had failed to ensure customers in arrears were treated fairly. The FCA said it also didn’t have sufficient [...]
Moody’s upgrades UK banking outlook as lenders weather falling interest rates October 2, 2024 Credit rating agency Moody's has upgraded its outlook for the UK banking system to "stable" from "negative", expecting lenders' balance sheets to stay resilient to falling interest rates.
HSBC to sell German private banking arm to BNP Paribas September 23, 2024 BNP Paribas has struck a deal to acquire HSBC's German private banking arm as the French lender looks to expand in wealth management and the London-based giant continues its pivot to Asian markets.
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.
Profit drops at Santander UK but boss Regnier hopes for brighter second half July 24, 2024 Santander UK reported a sharp drop in profit in the first half of the year but said there were signs of growing tailwinds for the rest of 2024. The Spanish bank’s UK arm reported pretax profit of £804m in the first six months of the year, down from £1.2bn in the same period last year. [...]
HSBC appoints new chief to replace outgoing boss Noel Quinn July 17, 2024 The bank has announced Georges Elhedery will take over the role as the head of the bank from 2nd September.
UK banking complaints hit 10-year high amid surge in third-party claims July 12, 2024 Official UK banking complaints have hit their highest level in a decade, partly driven by claims management companies that the financial ombudsman is trying to clamp down on.
Lenders expect further rise in mortgage defaults in coming months July 11, 2024 UK lenders are expecting a further jump in default rates on home loans in the coming months, according to a Bank of England survey, as mortgage holders face higher refinancing costs.
HSBC to revamp investment bank to look more like Citi July 10, 2024 HSBC is reportedly reshaping segments of its investment banking arm, following in the footsteps of rivals like Citigroup.