British banks shed workers at fastest pace since 2018 July 2, 2025 British bankers were on the chopping block in 2024 as UK lenders marked the steepest drop in headcount since 2018 amid an industry-wide digital push. Total employee numbers at British lenders slumped 5.25 per cent to 580,371, falling to the lowest number in a decade. Standard Chartered and HSBC made the biggest culls at 4.5 [...]
City minister doubles down on green finance as firms turn sour June 30, 2025 The City minister has reaffirmed the government’s ambition for a green transition across the financial services sector, despite the industry pivoting on climate priorities. Speaking at City Week on Monday, Emma Reynolds said: “The UK has a world leading financial and related professional services ecosystem and the research that is needed to integrate sustainable finance.” [...]
Will banks be able to escape a Reeves’ tax raid this Autumn? June 27, 2025 As Rachel Reeves watches her fiscal headroom crumble with every Labour U-turn, the Chancellor may return to her budget mantra that those with the “broadest shoulders should bear the heavier burden”. Lenders managed to skirt a tax raid in the 2024 budget after lobbyists warned it could damage the sector’s international competitiveness, but renewed fiscal [...]
Ring-fencing row puts Reeves in midst of Bank of England and City June 25, 2025 Rachel Reeves has found herself in the crosshairs of City chiefs and the Bank of England as she weighs whether to scrap ring-fencing rules. The Chancellor is facing pressure to rip up the rules imposed on British lenders after top banking chiefs branded the system “redundant”. Reeves said she is “open-minded” to ditching the 15-year-old [...]
Natwest executive top choice to lead Reeves’ National Wealth Fund June 24, 2025 A senior Natwest executive is the leading choice to become the next chief of Labour’s National Wealth Fund. Oliver Holbourn is the front-runner to oversee the Treasury’s new body with current boss John Flint set to depart in the summer. Holbourn currently heads up Natwest’s RBS International Arm and previously managed UK Financial Investments – [...]
Saga shares jump after revealing banking tie-up with Natwest June 24, 2025 Shares in over-50s group Saga rose on Tuesday after the firm revealed it was in “final negotiations” with FTSE 100 juggernaut Natwest for a banking partnership. The London-listed company quickly climbed three per cent in early trading to 176.80p. The firm posted the update ahead of their AGM on Tuesday, confirming it had “agreed heads [...]
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 [...]
Challenger banks scout exit routes as giants circle Metro and TSB June 19, 2025 Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]
Natwest rules out TSB takeover June 19, 2025 Natwest has ruled out a takeover of UK high street bank TSB. The FTSE 100 juggernaut was viewed as the “most likely acquirer” by analysts, with the firm hotly anticipated to begin a deal spree after it re-entered private ownership last month. TSB’s Spanish owners, Banco Sabadell, confirmed earlier this week that it had received [...]
Santander interested in TSB takeover June 18, 2025 Santander has approached its Spanish banking peer, Banco Sabadell, regarding a takeover of its UK high street bank, TSB. Britain’s fifth-largest lender is reported to have expressed interest in a deal for TSB, which follows owners Sabadell confirming earlier this week it had been approached regarding acquisitions. A formal offer is yet to be tabled, Sky News [...]