Twitter storm after Halifax Bank announces staff can wear badges with pronouns on June 29, 2022 Halifax Bank has caused a social media storm after announcing its employees will have the option to include pronouns on name badges. Twitter users reacted furiously after the bank shared an image on social media showing a staff member’s badge, including ‘she/her/hers” and “Pronouns matter. #ItsAPeopleThing”. The post has had more than 5.5k replies so [...]
Banks boosted by looming BoE interest rate hike June 15, 2022 Strengthening bets on the Bank of England tomorrow hiking interest rates for the fifth meeting in a row boosted the UK’s biggest-listed banks today. The capital’s premier FTSE 100 index surged 1.2 per cent to 7,273.41 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Lloyds Bank to pay staff extra £1,000 each to deal with UK’s cost-of-living crisis June 13, 2022 Lloyds Bank is set to pay £1,000 bonuses to the vast majority of its UK staff to help them deal with the cost-of-living crisis. The UK’s biggest retail bank is set to give one-off, £1,000 bonuses to more than 64,000 of its rank-and-file staff, according to an internal memo seen by City A.M. The bank [...]
UK banks no longer ‘too big to fail’ but sector still has room for improvement June 10, 2022 All of the UK’s top banks would survive a major financial shock, but some have shortcomings in ensuring they fund themselves through a crisis, the Bank of England said today. Britain’s eight biggest high street lenders would be able to fail safely without a repeat of bailouts seen during the financial crisis in 2008, according [...]
Lloyds chair says junior staff will be first in line when bank’s £399m bonus pot is handed out May 12, 2022 The chair of Lloyds Bank has said the company plans to prioritise its junior staff when reviewing pay packages as employees struggle with the rising cost of living. At the bank’s annual general meeting on Thursday, Robin Budenberg said: “Our colleagues, especially at a more junior level, are impacted by the rising cost of living [...]
Exclusive: Cynergy Bank’s new London property director is former head of Lloyds’ capital team March 28, 2022 The former head of Lloyds’ property team in the capital has been unveiled as the new London director of Cynergy Bank. Mitesh Hathi will head the bank’s expanded team of 19, with more than £1.1bn on its balance sheet. They will will focus on small and medium sized firms in the capitals’s £2m-20m bracket, in [...]
Lloyds to close 60 UK bank branches due to rise of online banking March 23, 2022 Lloyds Banking Group has said it is shutting 60 bank branches across the UK, due to customers switching to online banking. The banking conglomerate said it will close 24 Lloyds Bank branches, 19 Bank of Scotland branches, and 17 Halifax branches, on high streets across Britain, in response to record levels of online banking usage. [...]
Property boss launches £1.5bn legal claim against Lloyds over Libor hit March 19, 2022 The former Centre Point owner has tabled a £1.5bn legal claim against Lloyds Banking Group, pointing to the Libor scandal as reason for his property firm’s woes. Founder of property investment firm Targetfollow, Ardeshir Naghshineh, said he would have never taken out certain loans if he had knowledge of the Libor benchmark being manipulated fraudulently. [...]
Lloyds Bank’s profits in the lift as lender’s mortgage book surges to £293bn February 24, 2022 Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul after releasing Covid loan loss provisions thanks to the UK’s economic recovery. The group has reported pre-tax profits surging to £6.9bn in 2021, up from £1.2bn the previous year after releasing Covid loan loss provisions thanks to the UK [...]
Banking star and former Lloyds chief Antonio Horta-Osorio resigns at Credit Suisse after damning probe into personal actions January 17, 2022 Well-known global banker Antonio Horta-Osorio, the former boss of Lloyds Banking Group, has resigned as chairman of Credit Suisse after less than 12 months following an investigation into his personal actions. Antonio Horta-Osorio, who steered lending giant Lloyds back into private ownership after its 2008 financial crisis bailout, said in a statement issued by Credit [...]