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 [...]
Secure Trust bolsters lending as it ‘monitors’ global turbulence May 15, 2025 Specialist lender Secure Trust Bank delivered an upbeat first-quarter trading statement on Thursday with growth across lending and deposits. The London-listed lender posted a 3.2 per cent quarterly increase in its net lending to £3.7bn. This was up 10.5 per cent from the first quarter of 2024. The firm said its business finance and consumer [...]
Vanquis and Barclays lead surge in bank complaints amid motor finance May 7, 2025 Banking complaints rocketed by 76 per cent in the second half of 2024 as the motor finance scandal continued to haunt the sector, according to the Financial Ombudsman Service (FOS). The regulator revealed of the 141,846 complaints made to the FOS, 77 per cent were related to banking and credit at 109,155. This also marked [...]
Lloyds costs soar as lender increases provisions after tariff turmoil May 1, 2025 Lloyds Banking Group’s profit took a hit in the first three months of the year as the domestic-focused bank’s operating costs soared. The FTSE 100 giant, which includes Lloyds, Halifax and Bank of Scotland, met analyst expectations for pre-tax profit at £1.5bn – marking a seven per cent drop from the first quarter of 2024. [...]
Santander to spin off motor finance division from UK business April 22, 2025 Santander is poised to spin off its litigation-hit motor finance division as part of a major overhaul of its UK operations. The Spanish lender has sought permission from regulators to separate its car loan business, which is facing a near-£300m payout as part of the ongoing motor finance scandal, from the rest of its British [...]