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 [...]
Lloyds apologises after online banking customers unable to log in hours before Christmas December 24, 2021 Lloyds Banking Group apologised this morning after customers were having issues with their online banking system, just hours before Christmas. Users said they were unable to log into their accounts online. The issue reportedly started late last night. A message popped up on their screens instead, which read: “We are sorry that our internet banking [...]
Ex-PM David Cameron lobbied Tory associate at Lloyds to salvage Greensill pharmacy deal November 23, 2021 Former Prime Minister David Cameron lobbied Lloyds bank to change a decision to slash ties with ailing Greensill Capital, it has been reported. Cameron reached out to a board member whom he had ennobled during his Downing Street stint, the Financial Times reported on Tuesday. The newspaper cited “people familiar with the matter” as saying [...]
Lloyds Bank and Halifax to close 48 branches with 178 jobs at risk October 20, 2021 Lloyds Banking Group said this afternoon it plans to close a further 48 branches, blaming declining visits by customers. The Unite union said the closure of 41 Lloyds Bank and seven Halifax branches will deny thousands of customers access to vital services and cash, and could lead to 178 job losses. Vim Maru, retail director [...]
A slice of the pie: UK financial firms target booming fintech market October 11, 2021 As banks and financial services firms in the UK switch their attention from pandemic survival to driving growth, they are increasingly tapping into the booming fintech space as a way to future-proof their business, according to new research. Almost half (46 per cent) of the UK’s financial services firms are targeting acquisitions and partnerships with [...]
UK’s big five banks set to pay out £7bn in dividends as their earnings soar October 10, 2021 The UK’s largest banks are preparing to hand out a collective £7bn in dividends this year, on the back of earnings hitting their highest level for the sector since 2008. The £7bn payout would be more than double the £3.3bn handed out in dividends by the UK’s big five in 2020. The UK’s five largest [...]