Natwest to launch new fintech accelerator in London in April February 26, 2018 Natwest bank will launch new fintech accelerators in four cities across the UK in April, including one in the capital, it announced today. The bank will launch units in London, Manchester, Bristol and Edinburgh, supporting up to 80 fintech firms with a "technology team mentor" and access to government contacts. The six- to 18-month acceleration [...]
Goldman Sachs mulling sale and leaseback of new London headquarters February 26, 2018 Goldman Sachs is considering selling its massive new headquarters in London and leasing it back. The investment bank’s new London office, which functions as its European headquarters, could fetch as much as £1bn, Bloomberg first reported. Goldman currently employs more than 6,000 staff in London, and has not announced how many, if any, jobs will [...]
Lloyds share price rises after profits increase: Here’s how the analysts reacted February 21, 2018 Lloyds Banking Group today bombarded investors with a rise in profits which nevertheless missed estimates, a £1bn share buyback, and a £3bn investment programme as it unveiled its new three-year strategy. Shares rose by two per cent at the time of writing. Read more: Lloyds profits jump despite increased PPI bill Read more: Lloyds announces [...]
Metro Bank reveals first ever annual profit as deposits grow by almost half February 21, 2018 Metro Bank today announced its first ever full-year profit, with a strong expansion seeing its assets and loans both grow by more than 60 per cent. The challenger bank reported a statutory profit before tax of £18.7m, while the underlying figure was £20.8m compared to an £11.7m loss the year before. Shares fell by more [...]
Royal Bank of Scotland teeters on edge of profit for first time in a decade as British big bank results season begins February 18, 2018 Investors will be on tenterhooks this week to see if Royal Bank of Scotland (RBS) has returned to profit for the first time after a decade in the cold, as Britain’s biggest banks report their full-year results. City analysts expect a net income loss of £984m, according to an average of estimates from S&P Global [...]
Starling Bank announces partnerships with mortgage broker, investment and pensions firms and insurer in open banking push February 13, 2018 Starling Bank will today unveil four new partners for its in-app marketplace, raising the prospect of customers buying insurance and even gaining a mortgage through the bank's app within weeks. The digital-only bank will launch an integration with Pensionbee in its app from today, with digital investing service Wealthsimple, mortgage broker Habito and Kasko travel [...]
Metro Bank says it will create 900 new jobs in 2018 February 9, 2018 Metro Bank today said it will create almost 900 new jobs over the course of 2018 as it swims against the tide of big bank branch closures. The challenger bank's plans contrast with those of Lloyds, the largest UK retail banking operation, which this week said it will cut 900 jobs, moving half that number [...]
TSB warns of 2018 profit dent from increasing Lloyds outsourcing fees February 2, 2018 Challenger bank TSB today warned that increasing fees to Lloyds for running their computer systems will dent 2018 profits. Statutory profits before tax fell by more than 10 per cent to £162.7m, from the £182m seen last year mainly because of increased outsourcing fees, TSB reported today in a full-year update. The bank, which spun [...]
TV presenter Noel Edmonds secures Therium litigation funding for Lloyds HBOS legal battle January 31, 2018 TV presenter Noel Edmonds has secured millions of pounds of litigation funding for a legal battle with Lloyds Banking Group over the actions of HBOS before it was acquired. Therium Capital Management, which specialises in funding expensive legal cases, has agreed a "seven-figure" funding package for Edmonds' claim. The former Top of the Pops and [...]
Chinese investment into UK doubles despite lower global spend January 17, 2018 Chinese investment into the UK doubled during 2017 to a record high as investors jumped at the chance to buy coveted British assets at cheaper prices, according to a study to be published today. Foreign direct investment (FDI) into the UK from China reached $20.8bn (£15bn) during the year, up from $9.2bn in 2016, according [...]
