Secure Trust Bank sells motor finance arm after £21m hit February 5, 2026 Specialist lender Secure Trust Bank has offloaded its motor finance arm, becoming the latest UK bank to retreat from the sector, which has been wrapped up in scandal. The bank sold its remaining vehicle finance loan book to European Alternative Investment Fund Manager LCM Partners in a move expected to increase the bank’s CET1 ratio – a [...]
Santander takes jab at City watchdog as motor finance bill balloons February 4, 2026 Santander has took another major swipe at the City watchdog after the banking giant hiked its provisions for the motor finance scandal. As it reported full-year results, the bank said its bill for the car mis-selling saga had reached £461m, building on a previous £295m provision. It follows the bank’s UK arm missing its third-quarter [...]
Lloyds shares rally after profit boost and £1.8bn buyback January 29, 2026 Shares in Lloyds Banking Group jumped on Thursday as the bank launched a £1.8bn share buyback after breezing past profit expectations in the 2025 financial year. The FTSE 100 banking giant recorded a 12 per cent jump to pre-tax profit in the full-year netting £6.7bn and easily surpassing the £6.4bn pencilled in by internal analysts. [...]
Close Brothers: How the motor finance scandal reshaped one of ‘Europe’s least cost-efficient lenders’ January 18, 2026 Nearly two years ago Close Brothers chief executive said the bank would take “decisive actions” to strengthen its financial standing. The bold overhaul of the lender’s capital structure came amid the Financial Conduct Authority’s (FCA) review into the motor finance industry – a sector which made up 20 per cent of its £9.5bn loan book [...]
Lloyds shares surge past 100p to 17-year high January 6, 2026 Shares in Lloyds Banking Group surged past 100p on Tuesday morning amidst a wider rally in the London stock market’s blue-chips. The FTSE 100 banking giant jumped over one per cent at the opening bell to 101.30p marking a 17-year High before parring back some gains to close 0.8 per cent higher at 100.75. Lloyds’ [...]
Motor finance: What’s next for banks and consumers in 2026? December 29, 2025 The City watchdog wrapped up the consultation on its motor finance redress in December but the two-year long scandal threatens to rumble on into the new year. The Financial Conduct Authority (FCA) pushed the deadline for feedback on its scheme to 12 December after it was originally pencilled in for 18 November. The delay came [...]
FCA: Motor finance lenders ‘very focused’ on negatives of redress December 16, 2025 The boss of the UK’s financial watchdog has taken a swipe at motor finance lenders that are begrudged with the regulator’s redress scheme, stating they are “very focused” on the negatives. In a session with the Treasury Select Committee, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA) opened the door to changing the [...]
Motor finance lenders brace for legal battles amid redress spat December 15, 2025 Motor finance lenders have been sent a major warning over a potential influx of legal battles if the UK’s financial watchdog fails to “genuinely compensate” consumers. Britain’s top banks were thought to have been granted some reprieve earlier this year after the Supreme Court sided with upheld the appeals of two lenders in the landmark [...]
2025: It’s been one hell of a year for UK business December 11, 2025 From political drama to market volatility, cyber attacks, takeovers and trade wars – 2025 has not been plain sailing. January: motor finance and angry farmers We began the year reporting on the exodus from the London stock exchange noting that 2024 had been the quietest year on record for new listings and we suggested that [...]
Rachel Reeves’ Budget was ‘monumentally mishandled,’ says London-listed bank December 11, 2025 A London-listed bank has given its scathing assessment of Rachel Reeves’ second Autumn Budget and warned of the impact it will have on consumer confidence. S&U – which was founded in 1938 and once known as Sports and Utilities – said the performance of its motor finance and property financing arms was “remarkably resilient given [...]