Zopa: Fintech bank takes on HSBC and Lloyds with current account June 24, 2025 Digital bank Zopa is parking its tanks on the lawns of the UK’s top lenders – with a new high interest current account. The London-based fintech has launched “Biscuit,” which it said will allow customers to make £256 in cashback and interest per year. The current account offers two per cent AER interest on balances, [...]
HSBC’s return-to-office plans risk boss’ cost-cutting ambitions June 23, 2025 HSBC’s cost-cutting agenda is set to face a major disruption as the lender faces a shortfall of desks in its office move. The banking juggernaut has been reported to be mulling a return-to-office mandate that would force employees back into the office for at least three days a week. This comes as the bank is [...]
High street banks’ SME lending comeback won’t rattle challengers June 20, 2025 High street banks are flocking back to small- and medium-sized enterprise (SME) lending but face a battle against fintechs which have captured their spot. The Big Four banks have shed their market stronghold in SME lending. Research from the British Business Bank in March revealed challenger banks make up around 60 per cent of gross [...]
S&U shake off motor finance woes as verdict looms June 18, 2025 Specialist lender S&U said it remains confident in the group’s turnaround from motor finance woes after a strong start to the financial year. The bank said in a trading update on Wednesday that optimism in their annual report was “clearly being justified” by the firm’s performance since April. S&U’s profit for the financial year ending [...]
Deal fever: Banking giants plot takeovers to ramp up market share June 18, 2025 British banking is poised for a major shake-up as top names go on the hunt for fresh acquisitions. Lenders have been scouting new deals that would send shockwaves across the industry. Much of the prospective dealmaking involves London lender Shawbrook, whose private equity owners have been circling high street bank Metro. Ahead of this, Shawbrook [...]
Financial services firms expected to dump green finance and DEI June 18, 2025 The financial services industry is taking a dramatic step back from green finance and diversity policies. Over half of UK senior financial professionals believe their leadership will place less focus on environmental, social and governance (ESG) policies in the coming years. Meanwhile, a similar proportion, 54 per cent, believe diversity, equality and inclusion commitments will [...]
High street banks ramp up SME lending to highest since 2022 June 16, 2025 High street banks are scaling up their lending to small businesses, with the first quarter of 2022 hitting the highest amount since 2022. Lenders issued £4.6bn worth of loans in the first three months of the year marking a 14 per cent year-on-year jump. The rise was driven by a surge of lending to agriculture, [...]
FCA: Motor finance redress scheme must keep market afloat June 5, 2025 The Financial Conduct Authority has pledged any redress scheme it may implement on the motor finance industry must keep the market afloat. The watchdog said ensuring the integrity of the motor finance market, so it works well for future consumers, would be crucial framework for a redress scheme. The Supreme Court is expected to give [...]
Lloyds Bank boss: No evidence of harm in motor finance scandal May 20, 2025 Lloyds Banking Group’s chief executive faced a grilling from the Treasury Select Committee on Tuesday over the lender’s historical exposure to the motor finance market. Charlie Nunn, the bank’s boss, said there was “no evidence of harm” from the firm’s operations in the car financing market. The scandal in the sector headed to the Supreme [...]
FTSE 100 banks Lloyds and Natwest set to profit despite lower interest rates May 13, 2025 Amidst a backdrop of waning interest rates, FTSE 100 banking giants such as Lloyds and Natwest look set to continue to profit, according to analysts. Lenders’ takings from net interest income (NII) remained steady in the first quarter, even after the Bank of England chopped interest rates four times to 4.5 per cent. Since then, [...]