No ‘capacity’ for Ed Miliband’s warm homes plan, says British bank boss Property A UK banking chief has warned the government does not have the “capacity” to meet its ambition to transition millions of homes to low carbon-heating technologies. Nigel Terrington, the boss of specialist lender Paragon Bank, said Labour faced an “operational capacity constraint” in its bid to implement its warm home plan. The £15bn initiative, which [...]
As it happened: Stocks shrug off stalling Iran peace talks; OBR warns Reeves Markets Good morning and welcome back to the City AM liveblog. Markets were rocked yesterday after reports emerged from Iranian state media that Tehran was pulling out of peace talks with the US. A proposal that included a 60-day cessation of violence and a play to re-open the Strait of Hormuz has hung in the balance [...]
Optimism picking up after ‘disruptive’ Budget, says Paragon chief Banking Optimism in the UK is beginning to pick up, the boss of FTSE 250 lender Paragon has said, after sentiment was dampened by rampant tax speculation in the second half of 2025. Nigel Terrington, the boss of Paragon bank, told City AM that despite it being the early days of 2026, the mood was beginning [...]
Metro Bank handed capital boost from banking watchdog December 19, 2025 High street lender Metro Bank is set for a major capital boost after a reclassification from the banking watchdog. The FTSE 250 firm said on Friday it has received confirmation from the Prudential Regulation Authority (PRA) that it would be listed as a transfer firm under the newly introduced MREL regime from 2026. Introduced in [...]
Paragon Banking chief eyes acquisitions after capital boost December 3, 2025 The boss of Paragon Banking Group has acquisitions in mind after the lender received a major tailwind from regulatory reforms this year. Nigel Terrington has said the loosening of banks’ capital requirement rules, known as MREL (minimum requirement for own funds and eligible liabilities), will open up further growth prospects for mid-cap lenders. The boss [...]
Motor finance ruling hands City banks £7bn stock boost August 4, 2025 The FTSE 100’s banking giants added billions to their market value on Monday after a hefty boost from the Supreme Court’s motor finance ruling. Lloyds Banking Group bolstered its market capitalisation by over £3.5bn after a seven per cent surge to a five-year high on the back of the top Court’s ruling last Friday. The [...]
Paragon maintains pace as stamp duty changes slow mortgage lending July 29, 2025 Paragon has weathered a shakeup in stamp duty as analysts hailed the FTSE 250 bank’s “excellent momentum” in the first nine months of the financial year. The London-listed business recorded £1.1bn mortgage lending for the first three quarters, but estimated full-year volumes at the lower end of targets at £1.6bn. The firm said subdued activity [...]
The Bank of England is right: £25bn in assets isn’t that much for an SME lender July 17, 2025 Mid-tier banks have long faced regulatory hurdles that hinder growth, especially the minimum requirements once a lender’s assets reach £15-£25bn. Thankfully that’s about to change, but that should be just the start of reforms, says Nigel Terrington Each week, my commute to Paragon’s Solihull headquarters takes me past HS2 construction sites, bustling with heavy machinery [...]
Which UK banks are next in line for a takeover? July 11, 2025 As the next wave of banking consolidation kicks off, specialist lenders are in the fray to be swallowed up. The industry has seen a flood of mergers and acquisitions in recent years, of which the latest was a landmark tie-up between Santander and TSB Bank. Santander snapped up 12-year old British high street lender TSB [...]
Labour’s Mansion House will be lift-off or letdown for banks July 9, 2025 Britain’s banking sector will be keeping a close eye on Rachel Reeves’ Mansion House speech on July 15 in which the Chancellor will lay out Labour’s roadmap for financial services. Banks are set to take centre stage in the Treasury’s Financial Services Growth & Competitiveness Strategy as Reeves looks to harness the sector to power [...]