Natwest hikes targets again after jump in profit Banking Natwest has upgraded its income targets for a second quarter running as the bank posted better than expected profit and dished out a bumper dividend to investors. The blue-chip lender reported a 20 per cent jump in pre-tax profit in the first six months of 2026 to £4.3bn, up from £3.6bn the year prior and [...]
Bunq: Revolut rival eyeing up UK banking licence bid Fintech Europe’s second largest digital bank is gearing up for a bid for a UK banking licence, City AM can reveal, as the firm puts its hat in the ring in the fight to claw market share from fintech leader Revolut. Bunq – which reached 20 million users in just a decade – is understood to [...]
Jamie Dimon opens door to a $20bn JP Morgan takeover Banking Jamie Dimon has kicked the door open to the prospect of JP Morgan completing a major takeover that would shake-up the global banking landscape. The Wall Street boss raised the idea of the bank spending as much as $20bn (£15bn) as it looks to capitalise on the freed up capital from deregulation reforms. “I do [...]
AI will ‘destroy and create jobs,’ says HSBC boss May 20, 2026 The boss of Europe’s largest bank has warned that the growth of AI will both “destroy” and “create” new jobs as the banking industry continues to be reshaped in the face of new technology. Georges Elhedery, chief executive of HSBC, warned that the bank’s staff must avoid “fighting us” as it unveiled its latest AI [...]
The Square Mile gets its fourth City Minister – could it soon get its fifth? May 20, 2026 Four City minsters later, in this week’s column Samuel Norman takes a look at the blow to the Square Mile from the latest reshuffle. Also on the agenda: Revolut’s plans for the high net worth faces off with ambitions of incumbents. “Look for the girl with the sun in her eyes…” So goes the lyrics [...]
AI in banks? It’s all marketing and FOMO May 13, 2026 As banks are rush to beef up their AI capacity Samuel Norman recounts the sentiment shared across the industry at a conference in Copenhagen last week. Like all sectors, banks are chasing the promises of AI. The industry is shrugging off growing fears around job losses and rushing to beef up their AI credentials. Last [...]
UK chief executives scramble as Anthropic expands London AI hub April 16, 2026 Anthropic is expanding its London footprint with a new office for up to 800 staff, as UK bank bosses ramp up engagement with the firm over concerns about its latest AI models. The US-based company said it will scale up from its current base of more than 200 employees in the capital, with the new [...]
Morgan Stanley and Goldman Space X IPO plan to curb post-float selloff April 14, 2026 The Wall Street banks elected to work on Space X’s anticipated listing are drawing up plans to curb a post-IPO slump that could have detrimental effects to its valuation. Advisers on the deal are exploring whether insiders and early investors could be allowed to sell shares before the standard 180-day lock up has passed, according [...]
Barclays and Deutsche most at risk to private credit ‘profit blow’ April 14, 2026 Fears that private credit could spell trouble for the global financial system have been further amplified following a new report that forecasts losses associated with the sector could slash profits at top European banks. Banking giants Deutsche and Barclays rank among “most exposed” banks to a private credit reckoning due to their north of three [...]
Close Brothers and First Rand look to park motor finance row April 8, 2026 After countless speed bumps, sharp handbreak turns and a fair few false starts, the two banks that took the motor finance scandal to the top finally look to put it in the rearview mirror. Close Brothers and Aldermore owner First Rand have sought to wrap up the over two-year long saga after the financial watchdog [...]