Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
FTSE 100 close: Credit Suisse turmoil eases as Barclays and NatWest claw back losses March 21, 2023 London’s FTSE 100 today shook off market turmoil sparked by UBS saving Credit Suisse, with the UK’s largest lenders, such as Barclays and NatWest, soaring to the top of the index. The capital’s premier index surged nearly two per cent to 7,536.23 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
NatWest imposes £1,000 daily limit on Crypto spending to protect people against ‘losing life changing sums’ March 14, 2023 NatWest imposed stricter restrictions on cryptocurrency transfers as it seeks to protect its customers after £329m was lost by UK consumers last year. The bank is implementing a daily limit of £1,000 and a 30-day payment limit of £5,000 to cryptocurrency exchanges. It is implementing the rules to “help protect customers losing life changing sums [...]
Record 150,000 new firms founded by women last year, Natwest report reveals February 22, 2023 A record 150,000 new firms were founded by women last year, according to a major review by Natwest chief executive Dame Alison Rose. New figures outlined in the Rose Review Progress Report for 2022 show female entrepreneurs started twice as many companies last year as they did in 2018, despite the challenging economic environment. There [...]
NatWest shares dive six per cent as £1.3bn profits fail expectations and fear grows of banking ‘slump’ February 17, 2023 NatWest became the second FTSE 100 bank to take a beating as its forward guidance disappointed investors and analysts alike. NatWest’s share price was trading more than six per cent lower this afternoon, despite delivering its biggest profits since the financial crisis in 2022, as it forecast a difficult 2023. “The outlook for this year [...]
FTSE 100 live: London’s blue chip index falls as NatWest and Lloyds share prices slump February 17, 2023 London’s FTSE 100 dropped lower on Friday as a share price slump from NatWest and high street rival Lloyds weighed on the index. The capital’s premier index jumped 0.53 per cent to 7,972.29 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.76 per [...]
NatWest quarter profits almost triple to £1.3bn as higher interest rates offset bad loan provision February 17, 2023 NatWest recorded bumper profits in the final quarter of last year as the boost from higher interest rates outweighed funds set aside to cope with bad loans. Profits at the bank increased to £1.3bn in the final quarter, in line with market expectations and doubling compared to last year. This brought yearly profits to £3.6bn, [...]
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
Bank chiefs hit back at accusations of profiteering on higher interest rates February 7, 2023 Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
NatWest boss refuses summons by MPs probing savings rates February 1, 2023 The boss of NatWest has refused a request to appear in front of MPs to answer questions on why banks are being slow to pass on higher interest rates to savers. Chief executive Alison Rose has told MPs on the Treasury Select Committee that she does not have the time to speak to them next [...]