Santander UK axes jobs and branches in transformation overhaul July 30, 2025 Santander UK recorded a surge in provisions as the bank powered forward with its transformation strategy slashing its branch network and shedding workers. The bank said provisions for other liabilities and charges were up 74 per cent to £249m driven by “higher transformation related charges”. The lender listed losses and provisions as rising 119.8 per [...]
Motor finance: ‘Nothing is certain’ as banks await historic ruling July 30, 2025 The Supreme Court will hand down what could be the “most consequential ruling for lenders” in recent history on Friday in the dramatic culmination of the motor finance saga. In a twist, the highest court in the land surprised the market last Friday evening after updating its system with the information that it will announce [...]
FCA names interim FOS chair after abrupt leadership shake-up July 28, 2025 The Financial Conduct Authority has named a new interim chair of the Financial Ombudsman Service after its initial recruitment campaign “proved unsuccessful”. The City regulator appointed Liam Coleman as the watchdog’s temporary chair, which comes as controversy surrounds the departures of former leadership. Coleman will replace Baroness Zahida Manzoor who abruptly announced in February she [...]
Chancellor exploring route to overturn impending ruling on motor finance July 25, 2025 The Chancellor is reportedly considering overruling the impending Supreme Court ruling on motor finance when it is handed down
Lloyds reports strong growth as UK economic conditions improve July 24, 2025 Lloyds bank has reported a strong financial performance in the first half of the year, achieving income growth and showing continued momentum across the business. The FTSE 100 giant, which includes Lloyd’s, Halifax and Bank of Scotland recorded a statutory profit after tax increase of £2.5bn, up 4 per cent year on year, with a [...]
Caroline Wayman: How I got through tough times at the Financial Ombudsman July 24, 2025 We dig into the memory bank of the City's top brass. Today, Caroline Wayman tells us how she got through tough times as head of the Financial Ombudsman.
FCA urges UK insurers to improve motor insurance claim handling July 22, 2025 UK insurers have been urged to improve their claim handling skills after the UK’s financial watchdog found “concerning evidence” of poor practice in the motor insurance market. The Financial Conduct Authority (FCA) said hikes in motor insurance premiums were down to how claims are handled by insurers, adding that “insufficient management information” was resulting in [...]
Natwest and Lloyds: What to expect from FTSE 100 bank earnings next week July 21, 2025 The FTSE 100’s banking titans, Natwest, Barclays, Lloyds and HSBC are gearing up for what promises to be an interesting half-year reporting season. Lloyds and Natwest will kick off earnings on July 24 and July 25 followed by peers Barclays, HSBC and Standard Chartered the following week. The first quarter was defined by President Donald Trump’s [...]
UK bank profits in focus as lenders await critical motor finance court ruling July 20, 2025 Investors will be hoping UK banks will report solid earnings as lenders await the outcome of a critical court judgment that could unleash a major car finance compensation scheme. Lloyds Banking Group will kick off the sector’s half-year earnings with its results on Thursday, followed by NatWest Group on Friday. It comes at a significant [...]
Paragon Banking MD: ‘There’s a £500bn savings mountain sat in high street banks’ July 17, 2025 Each week, we dig into the memory bank of the City’s great and good. Today, Michael Helsby,managing director of strategic direction at Paragon Banking Group takes us through his career, and his reflections on the City, in Square Mile and Me What was your first job? I left school at 16 to become an apprentice Electrical [...]