Santander UK turns to more cost-cutting after profit slip Banking Santander UK said it expects to make more “efficiencies” after its profit slipped in the first nine months of the year due to a drag from restructuring costs and motor finance costs. The UK arm of Spain’s Banco Santander reported a £1.2bn pre-tax profit for the nine months ending 30 September, down six per cent [...]
Revolut to take fight to high street banks with UK personal loans Fintech Revolut is ramping up its battle with high street banking giants with the launch of personal loans in the UK market. The digital bank said on Monday it would begin offering loans between £2,000 and £25,000, which will be repayable over one to five years. The firm has insisted loans will have “transparent terms” and [...]
High-cost loans firm Evlo eyes £200m sale in sign of subprime comeback Exclusive High-cost lender Evlo has tapped bankers for a sale which could fetch the company a valuation of more than £200m, City AM can reveal, in signs of a revival of dealmaking in the controversial sub-prime lending market. Evlo, which calls itself ‘the friendly UK lender’ and offers loans at interest rates of up to 252 [...]
Investors risk losing life savings with unregulated services, watchdog warns August 20, 2026 The UK’s financial watchdog has warned everyday investors could lose their life savings if they pump cash into high-risk unregulated investment services. The Financial Conduct Authority (FCA) has said the recent failure of Woodville Consultants, a litigation funder which raised cashed through unregulated loan notes, had revealed the risks facing investors. Woodville collapsed in July [...]
British Business Bank cuts jobs in automation push July 21, 2026 The British Business Bank slashed its headcount in the last year as the government-owned economic development bank underwent a major restructuring. The bank – which backs loans from financial institutions in a bid to drive up UK small business lending – said in its annual report “a number of colleagues were placed at risk under [...]
‘Alarming’ lack of private credit understanding in finance bosses May 5, 2026 The elusive nature of the private credit industry has been called further into question with fresh data revealing less than one in five financial services leaders fully understand their exposure to the sector. A fresh report from Big Four firm KPMG has found just 14 per cent of financial services executives believe they are fully [...]
Barclays shares slide as sour loan provisions balloon to £823m April 28, 2026 Barclays made a mammoth reservation for bad loans in the first quarter led by the hostilities in the global market and a single name charge in its investment banking division. The blue-chip lender set aside £823m for potential loan losses, up from £643m in the same period last year, in a stark sign the firm [...]
JP Morgan marks down private credit loans amid AI jitters March 11, 2026 JP Morgan has marked down the value of specific loans held by private-credit groups, tightening its grip on the sector as boss Jamie Dimon warns of a looming AI reckoning. The bank’s move specifically targets software companies, which it now views as highly vulnerable to being replaced by artificial intelligence. By devaluing these assets, JP [...]
Tories pledge to cut ‘eyewatering’ interest on some student loans February 22, 2026 The Conservative party has pledged to slash some of the interest paid on student loans issued up until 2023 amid growing opposition around the crippling amount of student debt. Tory leader Kemi Badenoch said the Plan 2 loans system – which around 5.8 million took out loans under between 2012 and 2023 – “increasingly feels [...]
Hackney tops London’s entrepreneurial boroughs for startup loans January 12, 2026 Startup founders in Hackney racked up the highest volume of loans in London as fleets of British entrepreneurs launched their business in the capital. Some 1,309 loans were taken out by founders in Hackney through the Start Up Loans initiative since its launch in 2012 topping £11.4m in value. The borough has benefitted from being [...]