By: Samuel Norman

City Reporter Samuel is a City Reporter for City AM covering banking, fintech and more across the City. He is a gold-standard NCTJ qualified journalist who's previously worked at the Daily Mail and Sky News. He can be contacted at samuel.norman@cityam.com and posts at x.com/samnormanwrites.

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Monument Bank looks to the US for possible IPO

February 24, 2025

Monument Bank, one of the UK’s fastest-growing challenger banks, has reportedly told investors it wants to go public in the US before 2027 – marking another blow for the London market. The bank is in talks to raise £200m in private funding before pursuing a flotation on New York’s Nasdaq exchange, as reported by Sky [...]
Motor finance: Bank of Ireland sets aside £143m provision

February 24, 2025

Bank of Ireland joined the UK’s biggest lenders in setting aside a lump sump for potential motor finance payouts as it posted its annual results. The bank recorded a pre-tax profit of €1.86bn (£1.5bn) for 2024, which was four per cent down on the €1.94bn (£1.6bn) reported in 2023. The bank set aside €172m (£143m) [...]
Natwest Boxed launches savings account with The AA

February 24, 2025

Natwest’s financial services platform Natwest Boxed has partnered with The AA to launch an instant savings account. Boxed, which comes from a joint venture between the FTSE 100 lender and European fintech Vodeno, will leverage its embedded finance products for AA customers starting from March 2025. The new savings account will be FSCS-protected and customers [...]
International earnings set to outpace domestic in growing companies

February 24, 2025

The world’s fastest-growing companies’ international earnings are set to eclipse domestic revenue by 2030, according to new research from HSBC. A survey of 1,143 global senior decision makers, in companies with a revenue of between £18m (£14.2m) and $5bn (£3.9bn), found overseas revenue represents less than half of their income at present. However, this is [...]
FTSE 100 lenders pocket record total profit

February 21, 2025

Standard Chartered was the last of the FTSE 100’s biggest banks to release its annual results, as analysts praised the strong performance across all of the Big Five. Barclays, HSBC, Natwest, Lloyds and Standard Chartered booked an all-time high of £50.3bn in profit in 2024 and returned £35bn to investors. Russ Mould, investment director at [...]
Ex-Lloyds executive wants to ‘fintech’ mortgages

February 21, 2025

A former Lloyds executive wants to accelerate the mortgage process by bringing AI into the mix. Stuart Cheetham worked at Lloyds bank for over a decade, spanning senior roles across Asia. He was chief executive in Hong Kong and managing director in Japan. However, since departing the Big Four bank, Cheetham founded his own company [...]
Standard Chartered shares jump after boosting annual profit

February 21, 2025

Standard Chartered shares jumped over four per cent Friday morning after the lender posted its full-year results. It announced an overhaul on executive pay, as the multinational bank missed analysts’ profit estimates for the final quarter. Pre-tax profit fell 30 per cent to $800m (£631m) for the fourth quarter. Analysts had estimated the FTSE 100 [...]
Standard Chartered shares hit ten-year high ahead of results

February 20, 2025

Shares in Standard Chartered climbed to a ten-year high as the bank geared up to post its annual results on Friday. City analysts have pencilled in a full-year profit before tax of $6.2bn (£4.9bn), with the bank expected to pocket $983m (£780m) in the fourth quarter, down on the $1.1bn (£872m) posted in the fourth [...]
Lloyds sets aside over £1.1bn for motor finance claims

February 20, 2025

Lloyds bank announced on Thursday morning that it had set aside an additional £700m in provisions for potential motor finance payouts, on top of the £450m recorded last year. It has become the latest major lender to increase provisions in what’s becoming an increasingly expensive scandal for the UK’s financial sector. Lloyds has announced the [...]
Lloyds shares jump despite profit slump

February 20, 2025

Lloyds Banking Group’s shares jumped three per cent following market open, despite recording a profit hit after the firm set aside additional funds for potential motor finance payouts. The FTSE 100 lender’s pre-tax profit was down 20 per cent at £6bn, compared to £7.5bn in 2023. Analysts estimated the bank’s profit before tax at £6.5bn, [...]

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By: Samuel Norman

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