Aldermore puts jobs at risk in retreat from invoice finance market Banking Aldermore is weighing a round of layoffs as it consults on plans to scale back its invoice finance business ahead of a sale, City AM can reveal. The Reading-headquartered lender is discussing plans to shrink its invoice finance division and slash the amount of customers it serves in the market, sources told City AM. The [...]
Nationwide rebel claims he was offered sweetener to drop boardroom bid Banking A rebel Nationwide customer vying for a board seat at Britain’s biggest building society claimed it offered to help him land a directorship at another firm if he dropped his boardroom bid. James Sherwin-Smith, who is on the ballot at next week’s annual general meeting to join Nationwide’s board, told City AM he had a [...]
Nationwide fires starting gun on mortgage deals ahead of interest rate decision Banking Nationwide has slashed its mortgage rates for the second time in the space of a week, ahead of the Bank of England’s interest rate decision on Thursday. The building society has taken the chop to its home loan prices, with a 0.28 percentage-point reduction. It follows a 0.12 cut on 10 June. The move comes [...]
Nationwide boss Debbie Crosbie banks £4.7m payday after Virgin Money deal June 8, 2026 The boss of Nationwide has seen her pay almost double since the building society’s blockbuster takeover of Virgin Money. Debbie Crosbie, who has steered the mutual since 2022, bagged a £4.7m pay packet in the last financial year, up from £2.5m the year prior. The mammoth uplift was driven by the cash and bonuses from [...]
Natwest to pump £50m into branches after shuttering over a thousand June 5, 2026 Natwest is planning to beef up its branch network after being one of the leading banks to take the axe to its physical presence over the last decade. The blue-chip banking giant will pump £50m into its network over the next 18 months and has pledged not to close any branches until at least 2029. [...]
Nationwide accused of picking ‘unfair fight’ with member board candidate May 28, 2026 Nationwide has been accused of picking an “unfair fight” with one of its members who has sought to clinch a seat on the building society’s board. The mutual has opted not to recommend the candidacy of James Sherwin-Smith, who is running to be the first member to take a seat on Nationwide’s board in nearly [...]
An Inspector Calls at Nationwide’s annual general meeting May 27, 2026 In 49 days An Inspector Calls at the Nationwide annual general meeting and in this week’s column Samuel Norman looks at what he could be asking. Also on the agenda… after annual report season, it’s time for Starling to go full throttle on Engine. Not since the keen-eyed Inspector Goole shattered the comfortable illusions of [...]
Nationwide income soars on consumer lending boost May 21, 2026 Nationwide booked a hefty jump in its annual income as the building society benefited from a boost in consumer lending and clawed out a bigger market share of mortgage balances. The mutual recorded a 22 per cent jump in total income to £6.4bn, which was up from £5.2bn in the previous year, led by a [...]
After Santander’s TSB takeover – who are the top players in UK banking? May 1, 2026 Santander shocked the City last years after beating out its rivals to snap up TSB Bank. Now with the takeover complete, who are the major players in the sector? The near £3bn mega-merger of Santander and TSB has finally reached completion. And with it, Spanish-owned Santander is set to significantly beef up its UK presence [...]
Rachel Reeves to meet Lloyds and Natwest chiefs over Iran war April 20, 2026 Rachel Reeves has called in the bosses of Britain’s top banks for a summit this week to discuss the economic impact of the war in Iran. The Chancellor has invited executives from Barclays, HSBC, Lloyds, Natwest, Santander UK as well as the UK’s biggest building society Nationwide for a meeting this Wednesday. The meeting – as [...]