Close Brothers drops brewery arm amid operations overhaul July 15, 2025 Close Brothers is set to sell off its specialist service provider division for the beer industry as the banking group continues to overhaul operations. The FTSE 250 listed group established Close Brewery Rentals Limited (CBRL) in 2007, which provides keg and cask rental, leasing, and management services for breweries and beverage producers. The division offers [...]
Rachel Reeves urged to make ‘bold choices’ at Mansion House speech as growth stalls July 14, 2025 Financial services are looking to Rachel Reeves’ Mansion House speech and the launch of her new growth strategy for the sector as a pivotal turning point. The industry has been courted by the Chancellor in hopes of feeding ideas into the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy. Now, firms look to be banking [...]
Which UK banks are next in line for a takeover? July 11, 2025 As the next wave of banking consolidation kicks off, specialist lenders are in the fray to be swallowed up. The industry has seen a flood of mergers and acquisitions in recent years, of which the latest was a landmark tie-up between Santander and TSB Bank. Santander snapped up 12-year old British high street lender TSB [...]
UK’s financial services stronghold slips July 10, 2025 The UK’s position as a financial services leader has cracked as under-investment and staff reductions weigh on the sector. Nearly half of senior financial professionals believe the UK’s dominance is waning, research from the CRIF found. Over 40 per cent said they would no longer consider the country a global leader in the industry. Sara [...]
Banks shut eight branches a week since 2016 July 10, 2025 British banks have accelerated their retreat from the high street, shutting an average of eight branches a week since 2016 in a dash to bulk up digital offerings. Nearly 3,700 sites closed between 2016 and 2024, creating 41 ‘banking deserts,’ which refer to local authorities where at least one branch shut for every 10,000 residents. [...]
Close Brothers to scale back lending after motor finance hit July 9, 2025 Close Brothers is set to scale back its premium finance division in a bid to cut costs and focus on its offerings for businesses. The lender said on Wednesday it would begin to prioritise insurance products designed for businesses in its commercial lines, which the firm said offered better risk-adjusted returns and long-term growth potential. This will [...]
Labour’s Mansion House will be lift-off or letdown for banks July 9, 2025 Britain’s banking sector will be keeping a close eye on Rachel Reeves’ Mansion House speech on July 15 in which the Chancellor will lay out Labour’s roadmap for financial services. Banks are set to take centre stage in the Treasury’s Financial Services Growth & Competitiveness Strategy as Reeves looks to harness the sector to power [...]
Revolut banking licence bid goes down to the wire as key deadline looms July 8, 2025 Revolut is facing a fresh regulatory headache in the UK amid mounting expectations it may miss a key deadline in the ongoing process to become a fully operational bank. The digital banking juggernaut received the green light for its UK banking licence from Britain’s banking watchdog last year after a three-year wait, which triggered a 12-month [...]
British banking chiefs take a leaf from Elon Musk’s DOGE July 4, 2025 The chiefs of the UK’s Big Four banks are taking a leaf out of the Elon Musk playbook in their strident bid to slash costs. Natwest’s Paul Thwaite, Lloyds’ Charlie Nunn, HSBC’s Georges Elhedery and Barclays’ CS Venkatkrishnan are in the midst of major cost-cutting endeavours that bear similarities to Musk’s Department of Government Efficiency [...]
Why did Santander buy TSB? July 3, 2025 Santander might have hoped its takeover of TSB would make waves across the banking industry, but analysts have dubbed it a more modest splash. The deal, which is set to be worth £2.9bn when closed in 2026, will add TSB’s five million customers, £34bn in mortgages and £35bn in deposits to Santander’s portfolio as well [...]